Overview

* Primerica ( PRI ) Q3 adjusted revenue and EPS beat analyst expectations

* Record ISP sales of $3.7 bln, up 28% yr/yr

* Company repurchased $129 mln of common stock during the quarter

Outlook

* Company did not provide specific guidance for future quarters or full year in the statement

Result Drivers

* ISP SALES GROWTH - Record ISP sales of $3.7 bln, up 28% yr/yr, driven by strong demand and favorable equity markets

* TERM LIFE PREMIUMS - Term Life net premiums increased 3% with adjusted direct premiums growing 5%, despite a 15% decline in new policies issued

* ACTUARIAL ASSUMPTION REVIEW - Annual actuarial assumption review resulted in a net remeasurement gain of $23.1 mln, impacting earnings positively

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $838.90 $825.39

Adjusted mln mln (5

Revenue Analysts

)

Q3 Beat $6.33 $5.54 (9

Adjusted Analysts

EPS )

Q3 EPS $6.35

Q3 Net $206.80

Income mln

Q3 $206.10

Adjusted mln

operatin

g income

Q3 ROE 35.90%

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the life & health insurance peer group is "buy."

* Wall Street's median 12-month price target for Primerica Inc ( PRI ) is $320.00, about 18.6% above its November 4 closing price of $260.41

* The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)