Compared to Estimates, Globe Life (GL) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Globe Life (GL) reported revenue of $1.39 billion, up 5% over the same period last year. EPS came in at $2.71, compared to $2.15 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.39 billion, representing a surprise of +0.07%. The company delivered an EPS surprise of +2.26%, with the consensus EPS estimate being $2.65.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Globe Life performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Total premium: $1.12 billion versus $1.12 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +4.2% change.
Revenue- Net investment income: $266.93 million versus $264.63 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +8.7% change.
Revenue- Health premium: $331.24 million versus the four-analyst average estimate of $331.20 million. The reported number represents a year-over-year change of +3.7%.
Revenue- Life premium: $788.10 million compared to the $787.32 million average estimate based on four analysts. The reported number represents a change of +4.4% year over year.
Revenue- Other income (loss): $0.05 million compared to the $0.26 million average estimate based on three analysts. The reported number represents a change of -87.4% year over year.
Insurance Underwriting Income- Life: $300.09 million compared to the $295.47 million average estimate based on three analysts.
Insurance Underwriting Income- Annuity: $2.08 million versus the three-analyst average estimate of $2.25 million.
Insurance Underwriting Income- Health: $96.70 million versus $92.86 million estimated by three analysts on average.
View all Key Company Metrics for Globe Life here>>>
Shares of Globe Life have returned +1.4% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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