05:09 AM EDT, 07/26/2024 (MT Newswires) -- Horace Mann Educators ( HMN ) said late Thursday it now expects 2024 core earnings to be between $2.40 and $2.70 per share, compared with the prior guidance of $3 to $3.30.

Two analysts polled by Capital IQ expect normalized EPS of $2.90 for the year.

The company attributed the lower guidance largely to lower-than-expected net investment income, primarily from valuation adjustments in the company's commercial mortgage loan fund portfolio.

For Q2, the company expects core EPS of $0.18 to $0.20. Two analysts polled by Capital IQ expect $0.42.

Horace Mann is scheduled to release its Q2 results on Aug. 7.

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