Chattanooga Occasions Free Press (TN)
Jul. 30--Unum Group reported a four.6% acquire in its after-tax adjusted working earnings throughout the second quarter as premium revenue grew one other 6.eight% in Unum's core enterprise, serving to the corporate to beat analysts' forecasts for the interval by a penny per share.
The Chattanooga-based insurer mentioned right this moment its internet revenue within the three months ended June 30 totaled $281.2 million, or $1.33 per share, in comparison with $285.5 million, or $1.29 per share, a 12 months earlier.
Excluding after-tax realized funding beneficial properties and losses, Unum's adjusted working revenue this spring was $286.9 million, $1.36 per share. Analysts who observe Unum had predicted the corporate would have adjusted earnings of $1.35 per share within the three-month interval.
Buoyed by the continued upturn in earnings, Unum additionally mentioned right this moment it repurchased one other 2.9 million shares for about $100 million within the second quarter beneath its inventory buyback program.
"We're more than happy with our monetary outcomes for the second quarter and the sturdy premium development we're producing in our core enterprise segments," Richard P. McKenney, president and chief government officer, mentioned in an announcement right this moment. "We're persevering with to make sturdy progress as we execute on our strategic priorities and ship on our goal to supply important monetary safety to hundreds of thousands of staff and households."
Forward of the earnings announcement after the shut of buying and selling, Unum's inventory rose Tuesday by 30 cents per share, or zero.92%, to $32.80 per share. Though nonetheless beneath the height ranges reached in February, Unum shares have elevated 14.2% to this point this 12 months.
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