11:35 AM EDT, 04/23/2024 (MT Newswires) -- (Updates with the company's latest stock move in the headline and first paragraph.)

Globe Life ( GL ) shares rose more than 6% in recent Tuesday trading, a day after the company reported higher Q1 net operating income and revenue.

Net operating income was $2.78 per diluted share, up from $2.53 a year earlier, the company reported late Monday,.

Analysts polled by Capital IQ expected normalized EPS of $2.79.

Revenue for the quarter ended March 31 rose to $1.42 billion from $1.32 billion a year earlier. Four analysts surveyed by Capital IQ expected $1.42 billion.

For 2024, the company said it now expects net operating income of $11.50 to $12 per share. In February, the company projected $11.30 to $11.80. The consensus was for a normalized EPS of $11.60.

Globe Life ( GL ) said its outlook anticipates $350 million to $370 million of share repurchases for the full year.

The company said it was in a blackout period during most of Q1 due to "a potential acquisition that is no longer being actively considered." Globe Life ( GL ) plans to immediately resume share repurchases once the blackout for Q1 earnings is over, it said.

Price: 69.44, Change: +3.05, Percent Change: +4.59