MCKINNEY, Texas (AP) _ Globe Life Inc. (GL) on Wednesday reported second-quarter net income of $173 million.
The McKinney, Texas-based company said it had net income of $1.62 per share. Earnings, adjusted for investment costs, came to $1.65 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.
The life and health insurance company posted revenue of $1.18 billion in the period. Its adjusted revenue was $1.19 billion.
Globe Life expects full-year earnings in the range of $6.80 to $7.04 per share.
Globe Life shares have fallen 28% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $75.68, a decline of 17% in the last 12 months.