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CNO beats 1Q profit forecasts

CARMEL, Ind. (AP) _ CNO Financial Group Inc. (CNO) on Wednesday reported first-quarter net income of $62.3 million.

On a per-share basis, the Carmel, Indiana-based company said it had net income of 36 cents. Earnings, adjusted for non-recurring gains, were 34 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The insurance holding company posted revenue of $1.07 billion in the period.

CNO shares have climbed roughly 8 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.60, a climb of almost 5 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CNO at https://www.zacks.com/ap/CNO

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Keywords: CNO Financial, Earnings Report