Primerica (PRI) to report earnings tomorrow: here is what to expect
Financial services company Primerica (NYSE:PRI) will be reporting earnings this Wednesday afternoon. Here’s what to look for.
Primerica met analysts’ revenue expectations last quarter, reporting revenues of $863.4 million, up 8.5% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ book value per share estimates but a significant miss of analysts’ net premiums earned estimates.
Is Primerica a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Primerica’s revenue to grow 6.6% year on year, slowing from the 8.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Primerica rarely misses Wall Street’s revenue estimates.
Looking at Primerica’s peers in the life insurance segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Equitable Holdings delivered year-on-year revenue growth of 3.9%, missing analysts’ expectations by 1.8%, and CNO Financial Group reported revenues up 4.5%, falling short of estimates by 15.2%. CNO Financial Group traded up 4.5% following the results.
Read our full analysis of Equitable Holdings’s results here and CNO Financial Group’s results here.
There has been positive sentiment among investors in the life insurance segment, with share prices up 7.5% on average over the last month. Primerica is up 2% during the same time and is heading into earnings with an average analyst price target of $323.67 (compared to the current share price of $283.44).
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