PART I [Item 1. Consolidated Financial Statements](index=3&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) The consolidated financial statements for Q1 2025 reflect a slight asset decrease, significant net income growth, and robust operating cash flow [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) | Balance Sheet Highlights ($ in millions) | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Investments | 7,007.4 | 6,916.4 | | Total Assets | 14,396.1 | 14,487.8 | | Total Liabilities | 13,053.3 | 13,200.3 | | Total Shareholders' Equity | 1,342.8 | 1,287.5 | - Total assets slightly decreased from **$14.49 billion** at the end of 2024 to **$14.40 billion** as of March 31, 2025. Total shareholders' equity increased to **$1.34 billion** from **$1.29 billion** over the same period, primarily due to net income and changes in accumulated other comprehensive income[9](index=9&type=chunk) [Consolidated Statements of Operations and Comprehensive Income (Loss)](index=5&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20%28Loss%29) | Statement of Operations ($ in millions, except per share) | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total Revenues | 416.4 | 386.0 | | Total Benefits, Losses and Expenses | 368.9 | 353.0 | | Income Before Income Taxes | 47.5 | 33.0 | | Net Income | 38.2 | 26.5 | | Diluted EPS | $0.92 | $0.64 | - Net income increased by **44.2%** year-over-year, from **$26.5 million** in Q1 2024 to **$38.2 million** in Q1 2025. This resulted in a diluted earnings per share of **$0.92**, up from **$0.64** in the prior-year quarter[10](index=10&type=chunk) - Comprehensive income for Q1 2025 was **$69.3 million**, an increase from **$48.2 million** in Q1 2024, driven by both higher net income and a positive change in net unrealized investment gains on fixed maturity securities[10](index=10&type=chunk) [Consolidated Statements of Changes in Shareholders' Equity](index=6&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Shareholders%27%20Equity) - Total shareholders' equity increased from **$1,287.5 million** at the beginning of the period to **$1,342.8 million** at the end of Q1 2025[9](index=9&type=chunk)[12](index=12&type=chunk) - The company paid dividends of **$0.35 per share**, totaling **$14.7 million** in Q1 2025, an increase from **$0.34 per share** (**$14.3 million** total) in Q1 2024[12](index=12&type=chunk) [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) | Cash Flow Summary ($ in millions) | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | 140.8 | 74.5 | | Net Cash Used in Investing Activities | (35.1) | (59.5) | | Net Cash Used in Financing Activities | (113.5) | (24.3) | | Net Decrease in Cash | (7.8) | (9.3) | - Net cash from operating activities nearly doubled to **$140.8 million** in Q1 2025 from **$74.5 million** in Q1 2024, indicating stronger operational cash generation[15](index=15&type=chunk) [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) - The company operates in four reporting segments: Property & Casualty, Life & Retirement, Supplemental & Group Benefits, and Corporate & Other[19](index=19&type=chunk) - The most significant critical accounting estimates involve the valuation of hard-to-value fixed maturity securities, credit loss impairments, future policy benefit reserves, and property and casualty unpaid claims reserves[25](index=25&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=42&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations%20%28MD%26A%29) Management's discussion highlights Q1 2025 net income growth from Property & Casualty improvements and investment income, reaffirming full-year core earnings guidance and strong capital [Consolidated Financial Highlights & Results of Operations](index=43&type=section&id=Consolidated%20Financial%20Highlights%20%26%20Results%20of%20Operations) | Key Metrics | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total Revenues ($M) | 416.4 | 386.0 | | Net Income ($M) | 38.2 | 26.5 | | Diluted EPS | $0.92 | $0.64 | | Book Value per Share | $32.79 | $29.57 | - Net income increased by **$11.7 million** (**44.2%**) YoY, primarily due to improved Property & Casualty results from underwriting actions, favorable reserve development, and higher net investment income[110](index=110&type=chunk) - Net premiums and contract charges earned grew **8.4%** to **$298.3 million**, largely from rate and inflation adjustments in the Property & Casualty segment[112](index=112&type=chunk)[113](index=113&type=chunk) - Net investment income rose **10.0%** to **$115.9 million**, driven by strong returns from the fixed income portfolio and higher limited partnership returns[112](index=112&type=chunk)[114](index=114&type=chunk) [Outlook for 2025](index=46&type=section&id=Outlook%20for%202025) - The company estimates full-year 2025 core earnings will be in the range of **$3.85 to $4.15 per diluted share**, targeting a core return on equity of **10%+**[128](index=128&type=chunk) - Key assumptions for the 2025 outlook include: - P&C Auto combined ratio in the **mid-90s** and Property at or below **90** - Life & Retirement net interest spread between **220 and 230 bps** - Supplemental & Group Benefits blended benefit ratio of **39%** - Net investment income between **$470 million and $480 million** pre-tax[131](index=131&type=chunk) [Results of Operations by Segment](index=47&type=section&id=Results%20of%20Operations%20by%20Segment) | Segment Core Earnings ($ in millions) | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Property & Casualty | 26.8 | 10.6 | | Life & Retirement | 7.9 | 9.9 | | Supplemental & Group Benefits | 14.0 | 13.8 | | Corporate & Other (Loss) | (4.0) | (8.5) | - The Property & Casualty segment's net income surged to **$26.8 million** from **$10.6 million**, driven by a significantly improved combined ratio of **89.4%** and **$5.3 million** of favorable prior years' reserve development[139](index=139&type=chunk)[140](index=140&type=chunk)[142](index=142&type=chunk) - The Life & Retirement segment's net income decreased to **$6.8 million** from **$11.7 million**, primarily due to an unfavorable market risk benefit adjustment and higher mortality costs[152](index=152&type=chunk) - The Supplemental & Group Benefits segment's net income was stable at **$11.2 million**. A lower benefits ratio in individual supplemental products was offset by a higher benefits ratio in group benefits due to increased long-term disability claims[161](index=161&type=chunk) [Investment Results](index=55&type=section&id=Investment%20Results) - Net investment income from the managed portfolio increased **14.5%** to **$91.5 million** in Q1 2025, primarily due to higher returns in the limited partnership portfolio[167](index=167&type=chunk) - The total fixed maturity and equity securities portfolio was valued at **$5.52 billion** as of March 31, 2025, with **94.8%** of the portfolio rated investment grade[170](index=170&type=chunk)[171](index=171&type=chunk)[172](index=172&type=chunk) - Pretax net unrealized investment losses on fixed maturity securities decreased to **$400.0 million** from **$442.7 million** at year-end 2024, mainly due to a decrease in US Treasury rates[167](index=167&type=chunk)[168](index=168&type=chunk) [Liquidity and Capital Resources](index=59&type=section&id=Liquidity%20and%20Capital%20Resources) - Total capital was **$1.89 billion** as of March 31, 2025, with long-term debt of **$547.2 million**. The debt-to-total capital ratio was **29.0%**[193](index=193&type=chunk) - Shareholders' equity was **$1.34 billion**, with a book value per share of **$32.79**. The company holds **$1.2 billion** in highly liquid assets (cash, U.S. government securities, public equities)[189](index=189&type=chunk)[194](index=194&type=chunk) - In Q1 2025, the company paid dividends of **$14.3 million** and repurchased **3,240 shares** for approximately **$0.1 million**. **$26.2 million** remains authorized for future share repurchases[195](index=195&type=chunk)[196](index=196&type=chunk)[216](index=216&type=chunk) - The insurance subsidiaries can pay up to **$148.8 million** in dividends to the holding company in 2025 without prior regulatory approval, of which **$22.0 million** was paid in Q1[192](index=192&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=65&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is market value risk on invested assets, managed by aligning asset and liability cash flows and durations, with no material changes from prior year-end - The primary market risk exposure is market value risk, stemming from potential decreases in the value of invested assets[206](index=206&type=chunk) - The company manages risk by matching the projected cash inflows of assets with the projected cash outflows of liabilities, while maintaining reasonable durations and diversification[208](index=208&type=chunk) [Item 4. Controls and Procedures](index=66&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of March 31, 2025, with no material weaknesses or significant changes in internal control - Based on an evaluation as of March 31, 2025, the CEO and CFO concluded that the company's disclosure controls and procedures are effective[210](index=210&type=chunk) - There were no changes in internal control over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[211](index=211&type=chunk) PART II - OTHER INFORMATION [Item 1. Legal Proceedings](index=67&type=section&id=Item%201.%20Legal%20Proceedings) The company is defending against litigation and claims related to legacy commercial lines policies following the 2023 liquidation of R&Q Reinsurance Company, which had assumed these obligations - The company is defending against a lawsuit and various claims related to legacy commercial lines policies (asbestos, environmental, sexual molestation) from the late 1960s and early 1970s[97](index=97&type=chunk) - These issues arose following the March 2023 liquidation of R&Q Reinsurance Company, which had assumed these obligations through a series of transactions. The company recorded **$15.7 million** in after-tax costs related to these matters in Q4 2024[98](index=98&type=chunk)[99](index=99&type=chunk) [Item 1A. Risk Factors](index=67&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the Annual Report on Form 10-K for the year ended December 31, 2024 - There are no material changes from the risk factors disclosed in the Annual Report on Form 10-K for the year ended December 31, 2024[215](index=215&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=67&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2025, the company repurchased 3,240 shares of common stock under its authorized program, with approximately $26.2 million remaining for future repurchases | Period | Shares Purchased | Average Price Paid | Total Value ($) | Remaining Authorization ($M) | | :--- | :--- | :--- | :--- | :--- | | Jan 2025 | 0 | N/A | 0 | 26.3 | | Feb 2025 | 3,140 | $40.01 | 125,631 | 26.2 | | Mar 2025 | 100 | $40.01 | 4,001 | 26.2 | | **Q1 Total** | **3,240** | **$40.01** | **129,632** | **26.2** | [Item 5. Other Information](index=67&type=section&id=Item%205.%20Other%20Information) No director or executive officer adopted, modified, or terminated a Rule 10b5-1 trading arrangement during the first quarter of 2025 - No director or officer required to file Section 16 reports adopted, modified, or terminated a Rule 10b5-1 trading arrangement during the three months ended March 31, 2025[218](index=218&type=chunk) [Item 6. Exhibits](index=68&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including corporate documents, agreements, plans, and certifications by the CEO and CFO - The filing includes certifications from the CEO (Marita Zuraitis) and CFO (Ryan E. Greenier) pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002[224](index=224&type=chunk) - A glossary of selected terms is filed as Exhibit 99.1[224](index=224&type=chunk)

Financial Performance - Total revenues for Q1 2025 increased to $416.4 million, up 7.9% from $386.0 million in Q1 2024[3] - Net income rose to $38.2 million, a 44.2% increase compared to $26.5 million in the same quarter last year[3] - Core earnings for Q1 2025 reached $44.7 million, representing a 73.3% increase from $25.8 million in Q1 2024[3] Segment Performance - The Property & Casualty segment reported a combined ratio of 89.4%, improving by 11 points year-over-year[6] Guidance and Expectations - Full-year 2025 core EPS guidance is updated to a range of $3.85 to $4.15, with expectations for double-digit shareholder return on equity[6] Shareholder Value - Book value per share increased to $32.79, a 10.9% rise from $29.57 in the previous year[3] - Adjusted book value per share was reported at $38.05, up 4.2% from $36.52[3] - Core return on equity (ROE) for the last twelve months (LTM) improved to 10.6%, an increase of 4.9 percentage points from the prior year[3] Investment Performance - Net investment losses after tax were reported at $(2.6) million, compared to gains of $1.7 million in Q1 2024[3] Strategic Focus - The company continues to focus on strategies for sustained, profitable growth and aims to meet its 2025 goals[5]

Wall Street expects a year-over-year increase in earnings on higher revenues when Horace Mann (HMN) reports results for the quarter ended March 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 6. On the ...

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors of ...

Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent trend, with the aim of buying high and selling higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps define momentum characteristics, with Horace Mann (HMN) currently holding a Momentum Style Score of B [2] - The Zacks Rank system complements Style Scores, with HMN rated 2 (Buy), indicating potential for outperformance in the market [3] Group 2: Performance Metrics - HMN shares have increased by 0.5% over the past week, outperforming the Zacks Insurance - Multi line industry, which rose by 0.2% [5] - Over the last quarter, HMN shares rose by 5.02%, and by 16.9% over the past year, while the S&P 500 saw declines of -4.21% and gains of 9.79%, respectively [6] - The average 20-day trading volume for HMN is 218,089 shares, indicating a bullish sign when combined with rising stock prices [7] Group 3: Earnings Outlook - Recent earnings estimate revisions for HMN show one upward revision and no downward revisions, increasing the consensus estimate from $3.82 to $3.87 over the past 60 days [9] - For the next fiscal year, one estimate has moved upwards with no downward revisions, indicating positive earnings momentum [9] Group 4: Conclusion - Given the positive performance metrics and earnings outlook, HMN is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [11]

Company Overview - Horace Mann (HMN) is based in Springfield and operates in the Finance sector, focusing on auto and homeowners' insurance for teachers and educators [3] - Year-to-date, HMN shares have experienced a price change of 6.81% [3] Dividend Information - HMN currently pays a dividend of $0.34 per share, resulting in a dividend yield of 3.34%, which is significantly higher than the Insurance - Multi line industry's yield of 1.58% and the S&P 500's yield of 1.56% [3] - The company's annualized dividend of $1.40 has increased by 2.9% from the previous year, with an average annual increase of 3.06% over the past five years [4] - HMN's current payout ratio is 43%, indicating that it pays out 43% of its trailing 12-month earnings per share as dividends [4] Earnings Growth Expectations - For the fiscal year, HMN anticipates solid earnings growth, with the Zacks Consensus Estimate for 2025 projected at $3.87 per share, reflecting a year-over-year earnings growth rate of 21.70% [5] Investment Appeal - HMN is considered an attractive dividend play and a compelling investment opportunity, currently holding a Zacks Rank of 2 (Buy) [7]

Company Overview - The company serves approximately 1 million households, with about 80% of its customer base being educators[25]. - The company has approximately 1,750 employees across four offices in the U.S.[36]. - The company focuses on a niche market strategy tailored for educators, which allows for precise underwriting and targeted marketing[30]. Acquisitions and Market Share - In 2019, the company increased its market share by acquiring NTA Life Enterprises, LLC, and in 2022, it acquired Madison National Life Insurance Company, Inc.[18]. - The company acquired Benefit Consultants Group, Inc. in 2019, migrating the administration of its retirement platform to the BCG platform, which had $1.0 billion of recordkeeping assets under administration as of December 31, 2024[93]. Employee Engagement and Benefits - In 2024, 74% of employees participated in the biennial employee experience survey, highlighting strengths in manager trust and support[42]. - The Total Rewards strategy includes competitive compensation, comprehensive benefits, and robust employee training, with all employees eligible for benefits with no waiting period[49][50]. - Over 70% of employees have the opportunity to work remotely, with 87% agreeing they have the flexibility needed to balance work and personal responsibilities[53]. - The company offers up to $1,000 annually to employee health savings accounts and provides mental and physical health resources[52]. Financial Performance - The Property & Casualty segment generated $741.5 million in direct premiums for the year ended December 31, 2024, with a total of 345,593 auto risks and 166,991 property risks in force[65][64]. - Direct premiums and contract deposits for the employer-sponsored segment totaled $159.4 million, while the worksite direct segment totaled $121.8 million[107][108]. - The average face amount of individual life insurance policies issued was approximately $204,000, with life insurance in force rising to $21.1 billion at year-end 2024[88]. - Total accumulated fixed and variable annuity cash value on deposit at December 31, 2024, was $5.5 billion, net of reinsurance[89]. Catastrophe and Risk Management - Catastrophe losses for 2024 amounted to $94.9 million, with significant events including Hurricane Helene causing $27.8 million in losses[68]. - The company maintains a catastrophe excess of loss reinsurance coverage with a retention of $35.0 million, providing 89% coverage for losses between $25.0 million and $35.0 million for 2024[74]. - The company is actively monitoring trends in climate-related risks, which are expected to impact insurance claims and costs due to more frequent and severe weather events[147]. - The company utilizes property and casualty catastrophe models and third-party software for cash flow projections to support its risk analysis and capital adequacy evaluations[152]. Investment Strategy - The total investments as of December 31, 2024, amount to $6,916.4 million, with publicly traded securities comprising 72.9% of the total investment portfolio[126]. - The investment strategy focuses on generating income while balancing principal protection and investment risk, primarily through investment grade fixed maturity securities[122]. - The investment grade fixed maturity securities represent 95.1% of the fixed maturity securities portfolio, with an average credit quality of A+ and an average option-adjusted duration of 5.6 years[129]. Regulatory and Compliance - The company is subject to various federal and state laws regarding privacy, data protection, and cybersecurity, which may require additional compliance efforts[141]. - The regulatory landscape for artificial intelligence (AI) is evolving, with the company leveraging AI in underwriting, claims processing, and customer engagement while ensuring compliance with ethical guidelines[142]. - The evolving regulatory environment regarding cybersecurity and data protection may increase compliance costs and expose the company to liabilities in the event of a significant cyber-attack[207]. Challenges and Risks - The company's financial condition and results of operations are significantly affected by volatile financial markets and adverse economic environments, which can lead to increased claims and reduced demand for products[160]. - Interest rate fluctuations could materially impact the company's financial condition, with low rates reducing investment income and high rates increasing borrowing costs[164][167]. - Higher inflation over the past few years has significantly increased loss costs in auto and property businesses, with the potential for further increases if inflation remains elevated[191]. - Climate change presents risks that could lead to increased frequency and severity of weather-related catastrophes, resulting in higher overall losses and potentially higher reinsurance costs[199]. Cybersecurity - Cybersecurity threats have increased in frequency and sophistication, posing risks to the company's information technology systems and potentially leading to operational disruptions and reputational damage[204]. - The company cannot guarantee that its insurance coverage will be adequate for all financial and non-financial consequences from a cybersecurity event[209].

3 Full-year 2024 Investor Presentation February 5, 2025 Information as of December 31, 2024, unless otherwise noted Safe Harbor Statement and Non-GAAP Measures Certain statements included in this presentation, including those regarding our earnings outlook, expected catastrophe losses, our investment strategies, our plans to implement additional rate actions, our plans relating to share repurchases and dividends, our efforts to enhance customer experience and expand our products and solutions to more educat ...

Financial Data and Key Metrics Changes - The company reported record fourth-quarter core earnings of $1.62 per share, a 93% increase over the prior year [9] - Full-year 2024 core EPS was $3.18, more than doubling 2023 earnings, with a core return on equity of 8.8% [9][23] - The full-year combined ratio for property and casualty (P&C) was 98%, a 15-point improvement over the prior year [9] Business Line Data and Key Metrics Changes - P&C net premiums earned increased by 14%, with premiums and contract deposits rising by 8% over the prior year [10][11] - Full-year core earnings for the P&C segment were $49.1 million, an $85 million improvement over the prior year [28] - In the life and retirement segment, core earnings were $56.3 million, down from the prior year due to lower net interest margins [35] Market Data and Key Metrics Changes - The company experienced a 29% increase in annual segment sales, reaching $100.9 million [32] - Net written premiums in auto increased by 11.8% to $490.7 million, while property net written premiums rose by 17.7% to $288.6 million [32][33] - The company reported a pre-tax profit margin of 35.7% in individual supplemental, down one percentage point from the prior year but still above profitability targets [39] Company Strategy and Development Direction - The company aims to achieve a mid-90s combined ratio in P&C while mitigating earnings volatility [14] - Strategic investments will focus on driving profitable growth while maintaining business profitability [13] - The company plans to introduce a next-generation cancer product in the individual supplemental line later this year [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2025 core earnings guidance of $3.60 to $3.90 per share, with a return on equity of at least 10% [13][25] - The company anticipates catastrophe losses of $90 million for 2025, reflecting expected benefits from underwriting actions [26] - Management highlighted the importance of improved weather risk modeling and operational efficiencies in driving future growth [15][20] Other Important Information - The company recorded $18 million in reserves related to non-core legacy commercial exposures [42] - Adjusted book value at year-end 2024 was $37.54, reflecting intrinsic value adjustments [45] - The company plans to host an Investor Day in May to discuss strategic initiatives in detail [50] Q&A Session Summary Question: Confidence in CML returns improving - Management expressed confidence in the direction of the commercial mortgage loan (CML) portfolio, citing improved economic conditions and valuation adjustments [54] Question: Catastrophe losses and business growth impact - Management noted that catastrophe losses are expected to be lower due to effective mitigation efforts and adjustments based on historical averages [57][60] Question: Updates on growth execution across business lines - Management indicated excitement about presenting detailed growth plans at the upcoming Investor Day, emphasizing strong growth numbers in 2024 [64][67] Question: Industry pricing and property side options - Management highlighted the company's long-standing relationship with educators and the importance of product bundling while managing volatility [70][75] Question: Changes to deductibles and roof schedules - Management confirmed positive impacts from changes in deductibles and roof schedules, contributing to improved reserve development [78][81] Question: Impact of lower utilization in supplemental business - Management noted favorable morbidity experience and strong demand for supplemental products, with record sales in the fourth quarter [88][90] Question: Lower auto frequency and pricing strategy - Management acknowledged lower frequency of claims but emphasized a cautious approach to pricing, focusing on maintaining competitive rates [94][95] Question: Confidence in 2025 EPS guidance - Management expressed strong confidence in the 2025 EPS guidance, citing reduced variability in earnings projections due to successful profit restoration efforts [100][102]

Core Viewpoint - Horace Mann (HMN) reported quarterly earnings of $1.62 per share, significantly exceeding the Zacks Consensus Estimate of $0.99 per share, and showing an increase from $0.84 per share a year ago [1][2]. Earnings Performance - The earnings surprise for the quarter was 63.64%, with the company having surpassed consensus EPS estimates two times over the last four quarters [2]. - The company posted revenues of $409 million for the quarter, which was 2.48% below the Zacks Consensus Estimate, and a slight increase from $402.9 million year-over-year [3]. Stock Performance - Horace Mann shares have declined approximately 2.9% since the beginning of the year, contrasting with the S&P 500's gain of 2.7% [4]. - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations of outperforming the market in the near future [7]. Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.98, with projected revenues of $422.55 million, and for the current fiscal year, the estimate is $3.82 on $1.74 billion in revenues [8]. - The trend of estimate revisions for Horace Mann has been favorable leading up to the earnings release, which may influence future stock movements [6][7]. Industry Context - The Insurance - Multi line industry, to which Horace Mann belongs, is currently ranked in the bottom 45% of over 250 Zacks industries, suggesting potential challenges ahead [9].