Financial Performance - The financial supplement for Primerica, Inc. covers the fourth quarter of 2024, providing insights into ongoing business metrics and performance evaluations[5] - Total revenues for Q4 2023 reached 854.74million,reflectingayear−over−yearincreaseof20.4167.071 million, up from 151.935millioninthepreviousquarter,indicatingagrowthofapproximately9.4601 million, which is a 4% increase compared to the previous year[19] - Adjusted net operating income for Q4 2023 was 231,000,reflectinga43.239.08 million, reflecting a 14.2% increase year-over-year[23] - The overall performance indicates a strong financial position with positive trends in revenue and net income growth[19] Adjusted Financial Metrics - Adjusted net operating income and diluted adjusted operating earnings per share exclude the tax effect of pre-tax operating adjustments and non-recurring items, ensuring comparability in financial results[5] - Adjusted stockholders' equity removes the impact of net unrealized gains and losses on invested assets, providing a clearer picture of the company's financial health[6] - The document includes reconciliations of non-GAAP to GAAP financial measures, emphasizing the importance of these metrics in management's decision-making process[8] - Adjusted stockholders' equity per share increased to 65.8,reflectinga1.3850.6 million in Q4 2023, representing a 2.5% year-over-year growth[22] - The company anticipates continued growth in the Term Life Insurance segment, with a projected increase in direct premiums for 2024[22] - Investment & Savings product sales totaled 12,070millioninQ12024,asignificantincreasefrom9,211 million in Q4 2023, marking a growth of 31.1%[61] Asset and Liability Management - Total assets increased from 14,433millioninSeptember2023to15,027 million in December 2023, representing a growth of approximately 4.1%[12] - Total liabilities rose from 12,120millioninSeptember2023to12,961 million in December 2023, an increase of about 6.9%[12] - Stockholders' equity at the end of December 2023 was 2,197.05million,reflectingadecreasefrom2,275.0 million in September 2023[12] - The company’s retained earnings increased from 2,215.3millioninSeptember2023to2,276.9 million in December 2023, reflecting a growth of approximately 2.8%[12] Investment Performance - Primerica's investment portfolio details will be provided, showcasing the company's asset management strategies and performance metrics[2] - Net investment income increased to 38.134millioninQ42023,ariseof1.32,551 million, reflecting a 7.0% increase compared to the previous year[22] - The fixed income portfolio represents 80.5% of total invested assets, with an amortized cost of 3,155,494,000[49]GuidanceandFutureOutlook−ThecompanyprovidedaguidanceforQ12024withexpectedearningspershareintherangeof4.20 to 4.30[15]−Futureoutlookincludescontinuedmarketexpansionandpotentialnewproductlaunches,althoughspecificdetailswerenotprovided[23]−Thecompanyplanstoexpanditsmarketpresenceandinvestinnewproductdevelopmenttodrivefuturegrowth[19]−Thecompanyanticipatescontinuedgrowthinrevenuesandincomefor2024,drivenbynewproductlaunchesandmarketexpansion[37]OperationalMetrics−BasicearningspershareforQ42023was4.36, a decrease of 1.8% compared to Q4 2022[15] - Share count at the end of Q4 2023 was 34.9 million, a decrease of 4.7% year-over-year[15] - Life-insurance licensed sales force increased from 139.0 thousand in Q4 2023 to 141.5 thousand in Q1 2024, representing a 1.8% growth[33] - Non-renewal and terminated representatives decreased from 11.06 thousand in Q3 2023 to 10.51 thousand in Q4 2023, a decline of 4.9%[33] Credit Ratings and Financial Stability - Moody's and S&P maintained the company's credit ratings at A1 and AA- respectively, indicating strong financial stability[16] - The company has consistently received an A+ rating from A.M. Best, showcasing its strong insurance financial strength[16]
Primerica(PRI)2025-02-11 21:23