Financial Performance - Total revenues for 2023 reached $4,146.8 million, with a year-to-date (YTD) total of $4,449.5 million for 2024[9]. - Net income for 2023 was $276.5 million, while the YTD net income for 2024 stands at $404.0 million[9]. - The company experienced a significant increase in income before income taxes, reaching $356.8 million in 2023 and $518.3 million in 2024[9]. - Net operating income for Q4 2023 was $138.0 million, compared to $133.9 million in Q4 2022, reflecting a growth of about 3.1%[12]. - Net income for 2023 reached $404.0 million, compared to $276.5 million in 2022, which is an increase of approximately 46.1%[12]. - The company reported a net operating income of $356.1 million for the full year 2023, which is $3.09 per diluted share[56]. Assets and Liabilities - Total assets increased from $33,957.2 million in Mar-23 to $37,852.6 million in Dec-24, reflecting a growth of approximately 11.3%[6]. - Total liabilities rose from $31,925.4 million in Mar-23 to $35,354.2 million in Dec-24, an increase of about 10.4%[6]. - Shareholders' equity decreased from $2,031.8 million in Mar-23 to $2,498.4 million in Dec-24, showing a decline of approximately 22.5%[6]. - Cash and cash equivalents increased significantly from $425.0 million in Mar-23 to $1,656.7 million in Dec-24, a rise of approximately 289.5%[6]. Insurance Products and Premiums - The company reported an increase in collected premiums and insurance policy income, indicating a positive trend in revenue generation[6]. - New annualized premiums for health and life insurance products showed a significant increase, contributing to overall growth in the insurance segment[6]. - Total collected premiums for 2023 reached $4,098.0 million, with a quarterly increase to $1,068.1 million in Q4[22]. - Total insurance policy income for 2023 was $2,505.5 million, with Q4 income at $625.7 million[22]. - Insurance policy income for the year-to-date (YTD) reached $1,618.3 million, showing a steady increase from $1,594.6 million in the previous year[14]. Investment Income - The company reported a net investment income of $1,250.2 million for 2023, increasing to $1,419.4 million in 2024[9]. - Net investment income for 2023 totaled $1,499.7 million, with a quarterly breakdown of $343.0 million in Q1, $399.7 million in Q2, $291.8 million in Q3, and $465.2 million in Q4[35]. - The total net investment income for 2024 is projected to be $1,748.8 million, indicating a growth trajectory from 2023[35]. - Investment income allocated to product lines is based on the book yield of investments backing the business, applied to average net insurance liabilities[65]. Margins and Expenses - Total insurance product margin for 2023 was $1,040.0 million, up from $959.0 million in 2022, representing an increase of approximately 8.5%[12]. - The annuity margin increased to $91.1 million in Q4 2023 from $63.6 million in Q4 2022, marking a significant rise of approximately 43.3%[12]. - Total expenses for the year amounted to $64.0 million, with consistent quarterly expenses of $7.6 million in the first three quarters[38]. - Allocated expenses for 2023 totaled $615.3 million, slightly higher than $599.0 million in 2022, reflecting an increase of about 2.2%[12]. Future Projections - The company anticipates continued growth in 2024, with preliminary amounts indicating a potential increase in net gain from operations[32]. - The forecast for insurance policy income in Q1 2024 is $182.0 million, increasing to $183.3 million in Q4 2024[18]. - The company aims to maintain a consistent growth trajectory in net investment income, targeting $39.6 million in Q1 2024[18]. - The total insurance product margin for 2024 is projected at $1,012.7 million, excluding significant items[48]. Shareholder Information - The weighted average basic shares outstanding decreased from 114,343.1 thousand at the beginning of 2023 to 109,357.5 thousand by the end of 2023[26]. - The diluted shares outstanding at the end of 2023 were 111,750.3 thousand, down from 116,176.0 thousand at the beginning of 2023[26]. - The company repurchased a total of 2,201.3 thousand shares in 2023, with significant repurchases occurring in each quarter[26]. Market Strategy - The company is focusing on market expansion and new product development to enhance its competitive position in the industry[6]. - The company anticipates continued growth in policyholder account balances and new business issuances in the upcoming quarters, driven by market expansion strategies[29].

Exceptional fourth quarter, full-year earnings and sales; Entering 2025 well-positioned for sustainable growth and ROE expansionCARMEL, Ind., Feb. 6, 2025  /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) today announced its financial results for the fourth quarter and full year ended December 31, 2024.  Net income in 4Q24 was $166.1 million, or $1.58 per diluted share, compared to $36.3 million, or $0.32 per diluted share, in 4Q23. Net income for the year ended December 31, 2024 was $404.0 million, or ...

Industry Overview - The insurance industry is expected to benefit from improved pricing, strong retention rates, an active M&A environment, product redesign, and reinsurance agreements [1] - Rising expenses and interest rate cuts are likely to negatively impact performance [1] Earnings Expectations - Total earnings for finance companies in Q4 2024 are anticipated to rise by 22.6% year-over-year, with revenues expected to improve by 6.2% [2] - Rising premiums are expected to contribute positively to top-line growth for insurance companies in Q4 [3] Investment Strategies - Insurers are likely to seek alternative investments such as private equity, hedge funds, and real estate due to interest rate cuts [4] - M&A activity is expected to increase as lower interest rates encourage insurers to seek loans for expansion [4] Market Trends - The growing middle class in emerging markets and declining pension provisions are expected to drive growth in savings products [5] - The bundling of products and redesigning to meet consumer needs are changing the insurance landscape, enhancing product demand and retention [6] Technology Investments - Significant technology investments are anticipated to automate processes and improve operational efficiencies, potentially curbing costs and aiding margins [7] Company-Specific Insights - Reinsurance Group of America (RGA) is expected to report a 10.4% rise in earnings per share (EPS) to $5.22, with revenues of $5.8 billion, reflecting an 11.5% growth [10] - CNO Financial's EPS is estimated at $1.07, indicating a 9.3% decline, while revenues are expected to grow by 18.9% to $949.7 million [12] - Lincoln National's EPS is projected to improve by 20.7% to $1.75, with revenues expected to exceed $4.7 billion, more than doubling from the previous year [15] - Principal Financial's EPS is estimated at $1.95, reflecting a 6.6% growth, while revenues are expected to decline by 5% to $4 billion [17]

Core Viewpoint - CNO Financial (CNO) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for CNO is projected at $3.73 per share for the fiscal year ending December 2024, reflecting a year-over-year increase of 20.7% [9]. - Over the past three months, the Zacks Consensus Estimate for CNO has risen by 3.9%, indicating a trend of increasing earnings estimates [9]. Zacks Rating System - The Zacks rating system is based solely on a company's changing earnings picture, making it a reliable tool for investors to gauge stock performance [2][3]. - The system classifies stocks into five groups, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8]. - CNO's upgrade to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting potential for higher stock prices in the near term [11]. Market Dynamics - The correlation between earnings estimate revisions and stock price movements is strong, with institutional investors often driving price changes based on these revisions [5][6]. - Rising earnings estimates for CNO imply an improvement in the company's underlying business, which could lead to increased buying pressure and a higher stock price [6].

Core Points - CNO Financial Group, Inc. will report its fourth quarter 2024 results on February 6, 2025, after market close [1] - A conference call to discuss the results will take place on February 7, 2025, at 11:00 a.m. Eastern Time [1] Participation Details - Investors can participate in the conference call by registering online, which will provide call details and a registrant ID for attendance tracking [2] - The call will also be available via a live webcast, accessible through the Investors section of the company's website [3] - A replay of the conference call will be available on the company's website after the event [4] Company Overview - CNO Financial Group focuses on securing the future of middle-income America by providing life and health insurance, annuities, financial services, and workforce benefits solutions [5] - The company operates under several brands, including Bankers Life, Colonial Penn, Optavise, and Washington National, managing 3.2 million policies and holding $38 billion in total assets [5] - CNO employs 3,500 associates, 4,800 exclusive agents, and over 5,000 independent partner agents to assist customers with financial decisions [5]

Core Insights - California Nanotechnologies Corp. reported quarterly revenues of US$1,806,205 for the fiscal quarter ending November 30, 2024, marking a 56% increase year-over-year [1] - The company achieved an adjusted EBITDA of US$826,453, a 94% increase compared to the prior year, driven by higher revenue from manufacturing services and improved gross margins [2][6] - Net income for the quarter was US$113,140, a decrease of 78% from US$513,897 in the same period last year, primarily due to non-cash charges related to share purchase warrants [3][4] Financial Performance - Revenues for the three months ended November 30, 2024, were US$1,806,205, up from US$1,159,234 in the same period last year, representing a 56% increase [6] - Gross profit increased to US$1,392,222, a 79% rise from US$778,741 year-over-year, with a gross margin of 77%, up from 67% [6][10] - The company recorded a diluted earnings per share of $0.00, compared to $0.01 in the same period last year [4] Operational Highlights - The increase in revenue was attributed to the ramp-up of manufacturing programs and a Spark Plasma Sintering (SPS) equipment delivery [6] - The new Santa Ana facility began recognizing revenue this fiscal quarter after being commissioned in September 2024, contributing significantly to the revenue growth [8] - The company repaid approximately US$600,000 in borrowings from Omni-Lite Industries, achieving a debt-free status for the first time in 15 years [12] Strategic Initiatives - The company is focused on reducing customer concentration risk by investing in sales and business development capabilities [9] - A new mid-sized SPS2000 machine was installed at the Santa Ana facility, enhancing the range and capacity of SPS manufacturing services [11] - The company anticipates fluctuations in gross margin based on manufacturing service mix and equipment sales [10]

Here are three stocks with buy rank and strong value characteristics for investors to consider today, January 9:G-III Apparel Group, Ltd. (GIII) : This fashion and apparel company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 3.7% over the last 60 days.G-III Apparel Group has a price-to-earnings ratio (P/E) of 7.78 compared with 20.40 for the industry. The company possesses a Value Scoreof A.CNO Financial Group, Inc. (CNO) : This insurance a ...

Core Insights - CNO Financial has consistently beaten earnings estimates, with an average surprise of 38.99% over the last two quarters [1] - In the last reported quarter, CNO earned $1.11 per share, surpassing the Zacks Consensus Estimate of $0.84 by 32.14% [2] - The previous quarter also showed strong performance, with actual earnings of $1.05 per share against an expected $0.72, resulting in a surprise of 45.83% [2] Earnings Estimates and Predictions - Recent estimates for CNO have been increasing, indicating a positive outlook for future earnings [3] - The Zacks Earnings ESP for CNO is currently positive at +1.25%, suggesting analysts are optimistic about the company's earnings prospects [6] - A combination of a positive Earnings ESP and a Zacks Rank of 1 (Strong Buy) indicates a high likelihood of another earnings beat [6] Statistical Insights - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [4] - The Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions [5] - It is crucial for investors to check a company's Earnings ESP before quarterly releases to enhance the chances of successful investments [7]

Here are three stocks with buy rank and strong value characteristics for investors to consider today, January 7:Fresenius Medical Care AG (FMS) : This dialysis services provider carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.3% over the last 60 days.Fresenius Medical Care has a price-to-earnings ratio (P/E) of 11.46 compared with 24.76 for the S&P. The company possesses a Value Scoreof A.Silvercorp Metals Inc. (SVM) : This mineral explorati ...

CARMEL, Ind., Jan. 3, 2025 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) has named Joel Koehneman as Chief Accounting Officer, effective January 21, 2025. He will report to Chief Financial Officer Paul McDonough. Joel Koehneman "Joel brings extensive experience in public accounting to CNO. He spent 16 years in the audit practice of PricewaterhouseCoopers (PwC), primarily focused on life insurance clients, including serving as lead Director on two life insurance company audits," said McDonough. ...