Earnings Review and Free Research Report: Torchmark's Q2 Results Outshined Forecasts

Research Desk Line-up: Principal Financial Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 7, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Torchmark Corp. (NYSE: TMK), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=TMK, following the Company's release of its second quarter fiscal 2017 (Q2 FY17) on July 26, 2017. The McKinney, Texas-based Company's quarterly EPS from continuing operations grew 7% y-o-y, outperforming market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Life Insurance industry. Pro-TD has currently selected Principal Financial Group, Inc. (NYSE: PFG) for due-diligence and potential coverage as the Company announced on July 27, 2017, its financial results for Q2 2017. Register for a free membership today, and be among the early birds that get access to our report on Principal Financial when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on TMK; also brushing on PFG. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

During Q2 FY17, Torchmark reported total revenues of $1.03 billion, up from $991.88 million in the previous year's comparable quarter. Total revenues topped market expectations of $1.01 billion for the reported quarter. Total insurance premium revenues were up by 4% to $816.61 million in Q2 FY17 compared to $785.86 million in Q2 FY16.

The life and health insurance Company reported net income of $140.27 million, or $1.18 per share in Q2 FY17, which came in above the $138.43 million, or $1.13 per share, reported in Q2 FY16. The Company's net operating income from continuing operations grew during Q2 FY17 to $142.18 million, or $1.19 per share, from $138.75 million, or $1.11 per share, in Q2 FY16. Wall Street had expected the Company to report net operating income from continuing operations of $1.17 per share.

Operating Metrics

The Company reported total benefits and expenses of $827.15 million in Q2 FY17 compared to $792.54 million in Q2 FY16. The Company spent $51.41 million as administrative expenses in Q2 FY17 compared to $48.41 million in the last year's same quarter.

The Company's net income as a ROE came in at 11.4% for Q2 FY17 compared to 11.8% in Q2 FY16. Net operating income as a ROE stood at 14.3% in Q2 FY17 versus 14.6% in Q2 FY16. Furthermore, book value per common share was $42.55 as on June 30, 2017, compared to $39.87 as on June 30, 2016.

Segment-Performance

The Life insurance segment's operating revenues increased to $573.84 million in Q2 FY17 from $548.59 million in Q2 FY16. Insurance underwriting margins for the segment were $147.33 million, or 26% of premium, compared to $143.60 million, or 26% of premium, in the prior year's corresponding quarter.

In Q2 FY17, Health insurance premium revenue was $242.78 million compared to $237.25 million in the prior year's same quarter. The segment's insurance underwriting margins increased to $55.26 million, or 23% of premium, versus $52.62 million, or 22% of premium, in the prior year's comparable quarter.

Share Buyback

During Q2 FY17, Torchmark repurchased $1.1 million shares at an average price of $75.89 for $81 million. In July 2017, the Company further bought back 65,000 shares at an average price of $77.45 worth $5 million.

Outlook

In its guidance for FY17, Torchmark's management is expecting net operating income from continuing operations to be in the range of $4.70 per share to $4.80 per share. Furthermore, the guidance midpoint of $4.75 was $0.05 higher than the previous guidance.

Stock Performance

At the closing bell, on Friday, August 04, 2017, Torchmark's stock was slightly up 0.29%, ending the trading session at $79.07. A total volume of 213.52 thousand shares have exchanged hands. The Company's stock price surged 2.92% in the last three months, 6.49% in the past six months, and 29.11% in the previous twelve months. Moreover, the stock gained 7.20% since the start of the year. The stock is trading at a PE ratio of 17.54 and has a dividend yield of 0.76%. The stock currently has a market cap of $9.22 billion.

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SOURCE: Pro-Trader Daily