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Globe Life (GL)
NYSE:GL
Holding GL?
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Earnings Data
Report Date
Jan 29, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$3.12Last Year’s EPS
$2.8Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: -0.15%
|Next Earnings Date:Jan 29, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected strong financial performance with significant growth in key segments such as life insurance and investment income. However, challenges in health underwriting margins and direct-to-consumer sales offset some of the positive outcomes. While administrative expenses increased, the company remains optimistic about future sales growth and agent count expansion.Company Guidance
During the Globe Life Third Quarter 2024 Earnings Call, the company provided comprehensive guidance reflecting significant improvements in financial performance. Net income for the third quarter was reported at $303 million, or $3.44 per share, up from $257 million, or $2.68 per share, a year ago. Net operating income increased by 29% from the previous year, reaching $308 million, or $3.49 per share. The return on equity stood at 22.4% on a GAAP basis and 15.3% excluding AOCI, with a book value per share of $54.65 and $83.92, respectively, marking a 13% increase from the previous year. Life insurance premium revenue saw a 4% rise to $819 million, with an underwriting margin up by 29% to $387 million, driven by a remeasurement gain. Health insurance premium revenue grew by 7% to $354 million, though the underwriting margin decreased by 10% to $87 million due to a remeasurement loss. Administrative expenses reached $88 million, attributed to higher IT, employee-related, and legal costs, with an expectation to maintain these expenses at about 7.3% of premiums for the year. Looking forward, Globe Life anticipates life premium revenue growth between 4.0% and 4.5% and a life underwriting margin growth between 12% and 12.5% for the year, with health insurance premium revenue expected to grow approximately 6.5% to 7%.Strong Financial Performance
Net income for the third quarter was $303 million, or $3.44 per share, compared to $257 million, or $2.68 per share, a year ago. Net operating income increased by 29% year-over-year.
Life Insurance Segment Growth
Life insurance premium revenue increased by 4% year-over-year to $819 million, with a life underwriting margin up 29% due to remeasurement gains.
Agent Count and Sales Growth
American Income Life reported a 10% increase in agent count and a 19% increase in net life sales. Liberty National saw a 14% rise in agent count.
Investment Income Growth
Net investment income was up 7% year-over-year, driven by a favorable interest rate environment and growth in invested assets.
Positive Guidance for 2025
The company expects net operating earnings per diluted share to grow by 10% at the midpoint of the range for 2025, with anticipated life sales and health sales growth across various divisions.
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GL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $110.86 | $109.39 | -1.33% |
| Jul 24, 2024 | $88.08 | $88.88 | +0.91% |
| Apr 22, 2024 | $66.04 | $75.37 | +14.13% |
| Feb 07, 2024 | $121.57 | $124.03 | +2.02% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Globe Life (GL) report earnings?
Globe Life (GL) is schdueled to report earning on Jan 29, 2025, TBA Not Confirmed.
What is Globe Life (GL) earnings time?
Globe Life (GL) earnings time is at Jan 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GL EPS forecast?
GL EPS forecast for the fiscal quarter 2024 (Q4) is $3.12.
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