CNO Financial Group Inc

Latest Results (07.08.2024):

Net Income Growth

CNO Financial Group Inc. reported a significant increase in net income for the second quarter of 2024. The net income was $116.3 million, or $1.06 per diluted share, compared to $73.7 million, or $0.64 per diluted share, in the second quarter of 2023. This represents a 66% increase in earnings per share year-over-year.

Operating Earnings

The company's net operating income also saw a substantial rise. For the second quarter of 2024, net operating income was $114.6 million, or $1.05 per diluted share, compared to $62.3 million, or $0.54 per diluted share, in the same period of the previous year. This marks a 94% increase in operating earnings per share.

Sales Momentum

CNO Financial Group Inc. experienced continued sales growth for the eighth consecutive quarter. Total new annualized premiums (NAP) increased by 4%, with the Worksite Division NAP up 18% and the Consumer Division NAP up 2%. Medicare Supplement NAP grew by 16%, and Medicare Advantage policies sold increased by 78%.

Shareholder Returns

During the second quarter of 2024, CNO Financial Group Inc. returned $77.2 million to shareholders. The company also reported an increase in book value per share, which was $22.80, up 30%, and book value per diluted share, excluding accumulated other comprehensive loss, was $36.00, up 11%.

Outlook and Guidance

Looking ahead, CNO Financial Group Inc. is raising its full-year guidance on earnings and cash flow. The company enters the second half of the year with consistent sales momentum and favorable macro trends, positioning it well to deliver sustainable profitable growth and long-term shareholder value.