S&P 500 (NYSE:SPY) component Unum Group (NYSE:UNM) reported its results for the second quarter. Unum Group provides group and individual disability products in the US and provides a portfolio of other insurance products, including longterm care insurance, life insurance and employee-paid group benefits.
Unum Group Earnings Cheat Sheet for the Second Quarter
Results: Net income for Unum Group rose to $229.8 million (75 cents per share) vs. $209.7 million (63 cents per share) in the same quarter a year earlier. This marks a rise of 9.6% from the year earlier quarter.
Revenue: Rose 2.1% to $2.56 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: UNM beat the mean analyst estimate of 72 cents per share. Analysts were expecting revenue of $2.56 billion.
Quoting Management: “The second quarter was another good quarter for Unum, with our solid operating and investment results being enhanced by our share repurchase program,” said Thomas R. Watjen, president and chief executive officer. “Despite the continued soft economic and employment picture, our disciplined approach to our business is continuing to serve us well and positions us to capitalize on market opportunities.”
The company beat estimates last quarter after falling short in the previous two quarters. In the first quarter, it missed the mark by one cent, and in the fourth quarter of the last fiscal year, it fell short by 3 cents.
The increase in profit last quarter comes after net income fell in the previous quarter. In the first quarter, net income declined 1.9% to $225.4 million.
Competitors to Watch: Principal Financial Group, Inc. (NYSE:PFG), AFLAC Incorporated (NYSE:AFL), CNO Financial Group, Inc. (NYSE:CNO), CIGNA Corporation (NYSE:CI), WellPoint, Inc. (NYSE:WLP), American Independence Corp. (NASDAQ:AMIC), Universal American Corp. (NYSE:UAM), Humana Inc. (NYSE:HUM), Triple-S Management Corp. (NYSE:GTS), and HealthMarkets, Inc. (NYSE:UCI).
(Source: Xignite Financials)