Primerica
August 7, 2024
DULUTH, Ga., Aug. 7, 2024 --
Primerica reported second-quarter 2024 net income of 1.2 million dollars, or 0.03 dollars per diluted share, as non-cash write-offs from its decision to exit the senior health business weighed on GAAP results. Adjusted operating earnings per diluted share rose 18 percent to 4.71 dollars, and adjusted net operating income rose 12 percent to 162.7 million dollars.
Total revenue rose 17 percent to 803.4 million dollars, including 50 million dollars of insurance claim proceeds. Adjusted operating revenue rose 9 percent to 753.3 million dollars. New life-licensed representatives rose 14 percent to 14,402, lifting the life-licensed sales force to a record 145,789, and investment and savings product sales jumped 29 percent to 3.1 billion dollars.
The company raised its quarterly dividend 20 percent to 0.90 dollars per share and repurchased 143 million dollars of stock during the quarter. CEO Glenn Williams said nearly 40,000 people attended the company's July international convention.