Globe Life(US:GL)2026-02-04 21:45Financial Performance - Net income for Q4 2025 was $3.29 per diluted common share, an increase of 9.3% from $3.01 in Q4 2024[2] - Net operating income for Q4 2025 was $3.39 per diluted common share, up 8% from $3.14 in Q4 2024[2] - For the full year 2025, net income was $14.07 per diluted common share, a rise of 17.8% from $11.94 in 2024[3] - Full year net operating income increased 17% to $14.52 per diluted common share from $12.37 in 2024[3] - Net income for Q4 2025 was $266,083,000, representing a 4.5% increase from $255,196,000 in Q4 2024[61] - Basic net income per common share for Q4 2025 was $3.35, up from $3.04 in Q4 2024, reflecting a 10.2% increase[61] - Total revenue for Q4 2025 was $1,519,621,000, compared to $1,466,277,000 in Q4 2024, marking an increase of 3.6%[61] Insurance Sales and Premiums - Life net sales at the American Income Life Division increased by 10% year-over-year, while life premiums rose by 6%[6] - Health net sales at the Family Heritage Division surged 15%, with premiums increasing by 10% compared to the previous year[6] - Total insurance premium revenue for Q4 2025 was $1.24 billion, a 5% increase from $1.18 billion in Q4 2024[20] - Total life premium for Q4 2025 reached $849.58 million, a 3% increase from $822.96 million in Q4 2024[28] - Life net sales for Q4 2025 were $161.15 million, reflecting an 11% increase compared to $144.93 million in Q4 2024[28] - Health premium for Q4 2025 was $392.34 million, a 9% increase from $358.31 million in Q4 2024[31] - Total health net sales for Q4 2025 were $125.79 million, a 71% increase from $73.64 million in Q4 2024[31] - Total premium revenue for the year ended December 31, 2025, was $4,890,220,000, a 4.8% increase compared to $4,666,272,000 in 2024[61] Investment and Expenses - Excess investment income for Q4 2025 was $30.81 million, down 20% from $38.33 million in Q4 2024[37] - The company reported a net investment income of $281,402,000 for Q4 2025, slightly down from $282,453,000 in Q4 2024[61] - The amortization of deferred acquisition costs for Q4 2025 was $116,770,000, compared to $104,298,000 in Q4 2024, indicating a 12% increase[61] - The ratio of administrative expenses to premium was 7.4%, down from 7.7% in the year-ago quarter[23] Shareholder Actions - The company repurchased 1.3 million shares at a total cost of $170 million during Q4 2025, with an average share price of $134.44[51] Future Projections - Globe Life projects net operating income for 2026 to be between $14.95 and $15.65 per diluted common share, an increase from previous guidance[53] Agent Performance - The average producing agent count at the Liberty National Division grew by 6% year-over-year[6] - The average producing agent count for American Income decreased by 2% to 11,699 in Q4 2025 compared to 11,926 in Q4 2024[33] Investment Portfolio - The investment portfolio at book value as of December 31, 2025, totaled $20.47 billion, with fixed maturities making up 86% of the total[41] - The company’s average invested assets increased by 1% while net investment income remained relatively flat[38] Realized Gains and Losses - The company experienced realized losses of $4,312,000 in Q4 2025, contrasting with realized gains of $2,392,000 in Q4 2024[61]