Winners presented a ceremonial check and thanked Mother to Mother for their positive impact on the community. "No child, mother, or family should go without their basic needs being met. I am proud to be part of an organization that gives back where we live, work, visit, and serve," said Agency Owner Jason Everett. Janie Busbee, Founder of Mother to Mother, shared her gratitude saying, "Through the generosity of Globe Life, Mother To Mother continues to serve thousands of low-income families across Middle Te ...

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both. The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens. Zacks Premium includes access to the Zacks Style Scores as well. What are the Zacks Style Scores? ...

Globe Life has supported Operation Gratitude for more than five years, donating over $100,000, crafting paracord lanyards, writing thank you cards, assembling care packages, and hand-filling Battalion Buddy bears for the children of deployed service members. "We're incredibly proud to support Operation Gratitude as part of our purpose-driven mission to help Make Tomorrow Better," said Jennifer Haworth, Executive Vice President and Chief Marketing Officer at Globe Life. "Our deployed military members and fir ...

It has been about a month since the last earnings report for Globe Life (GL) . Shares have added about 11.1% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Globe Life due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Globe Life Q2 Earnings Beat on Solid Underwriting ...

MCKINNEY, Texas, Aug. 15, 2024 /PRNewswire/ -- Globe Life Inc. (NYSE: GL) announced that its $170 million delayed draw term loan has been amended effective August 15, 2024. The principal amount of the loan has been increased from $170 million to $250 million and the maturity date has been extended from November 10, 2024 to August 15, 2027. Globe Life Inc. is a holding company specializing in life and supplemental health insurance for the middleincome market distributed through multiple channels, including d ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being u ...

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both. The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor. Zacks Premium includes access to the Zacks Style Scores as well. What are the Zacks Style ...

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Revenue- Net investment income: $2 ...

Company Overview - Equitable Holdings, Inc. is expected to report revenues of $3.82 billion, reflecting a 14.5% increase from the same quarter last year [2] - Globe Life reported revenues of $1.45 billion for the quarter ended June 2024, slightly missing the Zacks Consensus Estimate by 0.01%, compared to $1.37 billion in the previous year [4] - Globe Life's quarterly earnings were $2.97 per share, surpassing the Zacks Consensus Estimate of $2.90 per share, and up from $2.61 per share a year ago [9][10] Earnings Expectations - Globe Life is projected to post quarterly earnings of $1.43 per share, indicating a year-over-year increase of 22.2%, although the consensus EPS estimate has been revised 1.2% lower in the last 30 days [8] - The current consensus EPS estimate for Globe Life is $3 on revenues of $1.47 billion for the upcoming quarter and $11.75 on revenues of $5.83 billion for the current fiscal year [13] Performance Metrics - Globe Life has exceeded consensus EPS estimates three times over the last four quarters [10] - Despite the positive earnings surprises, Globe Life shares have declined approximately 26.4% since the beginning of the year, contrasting with the S&P 500's gain of 16.5% [11] Industry Context - The Financial - Miscellaneous Services industry, to which Globe Life belongs, is currently ranked in the top 42% of over 250 Zacks industries, indicating a favorable outlook [7] - The Zacks Rank for Globe Life is 1 (Strong Buy), suggesting that the stock is expected to outperform the market in the near future [6]

Globe Life Inc. Q2 2024 Results [Q2 2024 Financial Highlights](index=1&type=section&id=Q2%202024%20Financial%20Highlights) Globe Life Inc. reported strong Q2 2024 growth, with net income up 20% and net operating income rising 8%, alongside active share repurchases | Metric | Q2 2024 | Q2 2023 | Change | | :--- | :--- | :--- | :--- | | Net Income per Diluted Share | $2.83 | $2.24 | +26% | | Net Operating Income per Diluted Share | $2.97 | $2.61 | +14% | - For the first six months of 2024, net income as a return on equity (ROE) was **20.8%**, while net operating income as an ROE (excluding AOCI) was **14.5%**[4](index=4&type=chunk) - The American Income Life Division saw a **16%** increase in life net sales and a **13%** growth in its average producing agent count year-over-year[4](index=4&type=chunk) - The Liberty National Division experienced an **11%** increase in life net sales and a **16%** growth in its average producing agent count year-over-year[4](index=4&type=chunk) - The company repurchased **3.8 million shares** of its common stock during the second quarter[4](index=4&type=chunk) [Results of Operations](index=2&type=section&id=Results%20of%20Operations) Globe Life's Q2 2024 net operating income rose 8% to $271.2 million, with net income reaching $258.4 million Q2 2024 vs Q2 2023 Operating Summary | Operating Summary | Q2 2024 (in millions) | Q2 2023 (in millions) | % Change | Q2 2024 (Per Share) | Q2 2023 (Per Share) | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Insurance underwriting income | $340.4 | $315.4 | 8% | $3.72 | $3.28 | 13% | | Excess investment income | $42.8 | $31.4 | 36% | $0.47 | $0.33 | 42% | | **Net operating income** | **$271.2** | **$251.5** | **8%** | **$2.97** | **$2.61** | **14%** | | **Net income** | **$258.4** | **$215.3** | **20%** | **$2.83** | **$2.24** | **26%** | Book Value Per Share Comparison | Metric | June 30, 2024 | June 30, 2023 | | :--- | :--- | :--- | | Book value per share | $58.06 | $41.44 | | Book value per share, excluding AOCI | $82.38 | $72.09 | [Insurance Operations](index=3&type=section&id=Insurance%20Operations) Insurance operations showed solid Q2 2024 growth, with total premium revenue up 5% to $1.17 billion [Insurance Underwriting Performance](index=3&type=section&id=Insurance%20Underwriting%20Performance) Total insurance underwriting income increased 8% to $340.4 million in Q2 2024, driven by growth in life and health underwriting margins Insurance Premium Revenue by Product (Q2 2024) | Product | Q2 2024 Revenue (in millions) | Q2 2023 Revenue (in millions) | % Change | | :--- | :--- | :--- | :--- | | Life insurance | $815.5 | $781.7 | 4% | | Health insurance | $351.6 | $329.2 | 7% | | **Total** | **$1,167.1** | **$1,110.9** | **5%** | Insurance Underwriting Income (Q2 2024) | Component | Q2 2024 (in millions) | Q2 2023 (in millions) | % Change | | :--- | :--- | :--- | :--- | | Life Underwriting Margin | $320.3 | $296.1 | 8% | | Health Underwriting Margin | $100.5 | $92.4 | 9% | | **Total Underwriting Margins** | **$422.6** | **$390.7** | **8%** | | Administrative expenses | ($82.2) | ($75.5) | 9% | | **Insurance underwriting income** | **$340.4** | **$315.4** | **8%** | - The ratio of administrative expenses to premium increased slightly to **7.0%** in Q2 2024 from **6.8%** in the year-ago quarter[17](index=17&type=chunk) [Life Insurance Results by Distribution Channel](index=5&type=section&id=LIFE%20INSURANCE%20RESULTS%20BY%20DISTRIBUTION%20CHANNEL) Total life insurance net sales grew 10% year-over-year, led by strong performance in American Income and Liberty National divisions Life Net Sales by Channel (Q2 2024 vs Q2 2023) | Distribution Channel | Q2 2024 (in millions) | Q2 2023 (in millions) | % Change | | :--- | :--- | :--- | :--- | | American Income | $94.7 | $81.9 | 16% | | Liberty National | $25.9 | $23.3 | 11% | | Direct to Consumer | $30.6 | $31.6 | -3% | | **Total** | **$153.5** | **$139.3** | **10%** | Life Premium by Channel (Q2 2024 vs Q2 2023) | Distribution Channel | Q2 2024 (in millions) | Q2 2023 (in millions) | % Change | | :--- | :--- | :--- | :--- | | American Income | $423.5 | $394.6 | 7% | | Liberty National | $92.2 | $86.6 | 6% | | Direct to Consumer | $248.8 | $248.6 | 0% | | **Total** | **$815.5** | **$781.7** | **4%** | [Health Insurance Results by Distribution Channel](index=6&type=section&id=HEALTH%20INSURANCE%20RESULTS%20BY%20DISTRIBUTION%20CHANNEL) Health insurance net sales increased 17% in Q2 2024, driven by a 41% surge in United American division sales and 7% growth in total premiums Health Net Sales by Channel (Q2 2024 vs Q2 2023) | Distribution Channel | Q2 2024 (in millions) | Q2 2023 (in millions) | % Change | | :--- | :--- | :--- | :--- | | United American | $18.2 | $12.9 | 41% | | American Income | $5.8 | $4.7 | 23% | | Family Heritage | $24.6 | $23.0 | 7% | | **Total** | **$57.8** | **$49.4** | **17%** | Health Premium by Channel (Q2 2024 vs Q2 2023) | Distribution Channel | Q2 2024 (in millions) | Q2 2023 (in millions) | % Change | | :--- | :--- | :--- | :--- | | United American | $149.2 | $137.5 | 9% | | Family Heritage | $105.9 | $98.1 | 8% | | **Total** | **$351.6** | **$329.2** | **7%** | [Producing Exclusive Agent Count](index=7&type=section&id=PRODUCING%20EXCLUSIVE%20AGENT%20COUNT%20RESULTS%20BY%20DISTRIBUTION%20CHANNEL) The company's exclusive agent force expanded in Q2 2024, with American Income and Liberty National divisions showing significant agent count growth Quarterly Average Producing Agent Count | Division | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | American Income | 11,869 | 10,488 | 13% | | Liberty National | 3,700 | 3,180 | 16% | | Family Heritage | 1,361 | 1,345 | 1% | [Investment Performance](index=7&type=section&id=INVESTMENTS) The investment segment performed well in Q2 2024, with net investment income up 9% to $285.6 million and a conservative $19.7 billion portfolio Excess Investment Income (Q2 2024 vs Q2 2023) | Metric | Q2 2024 (in millions) | Q2 2023 (in millions) | % Change | | :--- | :--- | :--- | :--- | | Net investment income | $285.6 | $261.2 | 9% | | Interest on policy liabilities | ($242.8) | ($229.9) | 6% | | **Excess investment income** | **$42.8** | **$31.4** | **36%** | | **Per share** | **$0.47** | **$0.33** | **42%** | - As of June 30, 2024, the total investment portfolio was valued at **$19.7 billion**, with fixed maturities comprising **89%** of the total[33](index=33&type=chunk)[34](index=34&type=chunk) - The fixed maturity portfolio is high quality, with **97%** of assets rated as 'investment grade' at amortized cost[36](index=36&type=chunk) Fixed Maturity Acquisitions | Metric | Q2 2024 (in millions) | Q2 2023 (in millions) | | :--- | :--- | :--- | | Amount | $240.7 | $359.5 | | Average annual effective yield | 6.2% | 5.8% | | Average rating | A- | AA | [Capital Management and Corporate Outlook](index=9&type=section&id=Capital%20Management%20and%20Corporate%20Outlook) Globe Life continues its capital return strategy with $314 million in share repurchases, maintaining strong liquidity and projecting full-year 2024 earnings guidance - During Q2 2024, the company repurchased **3.8 million shares** of its common stock for a total of **$314 million**, at an average price of **$81.87 per share**[40](index=40&type=chunk) - The company's operations generate strong and stable cash flows, ensuring sufficient liquidity at the Parent Company level to meet capital needs[41](index=41&type=chunk) - Globe Life projects its full-year 2024 net operating income to be between **$11.80** and **$12.10 per diluted common share**[42](index=42&type=chunk) [Appendix: GAAP Financial Statements](index=12&type=section&id=APPENDIX) The GAAP Condensed Consolidated Statement of Operations for Q2 2024 shows total revenues of $1.44 billion and net income of $258.4 million GAAP Condensed Consolidated Statements of Operations (Three Months Ended June 30) | Metric (in millions) | 2024 | 2023 | | :--- | :--- | :--- | | Total premium | $1,167.1 | $1,110.9 | | Net investment income | $285.6 | $261.2 | | **Total revenue** | **$1,440.2** | **$1,326.4** | | Total benefits and expenses | $1,117.9 | $1,061.9 | | Income before income taxes | $322.3 | $264.5 | | **Net income** | **$258.4** | **$215.3** | | **Diluted net income per common share** | **$2.83** | **$2.24** |