Primerica
August 7, 2023
DULUTH, Ga., August 7, 2023 --
Primerica, Inc. reported second-quarter 2023 GAAP revenue of 688.4 million dollars, up 3 percent from a year earlier, with net income of 144.5 million dollars and diluted EPS of 3.97 dollars, up 20 percent. Diluted adjusted operating EPS was 3.99 dollars, up 18 percent, and adjusted net operating income was 145.4 million dollars, up 11 percent. Return on stockholders' equity was 29.2 percent.
The life-licensed sales force grew 4 percent to 137,806 representatives, with new life licenses up 10 percent. Issued term life face amount rose 16 percent to 32.2 billion dollars. Investment and Savings Products sales were 2.4 billion dollars, down 11 percent, though net client inflows were 542 million dollars.
Chief executive Glenn Williams said distribution strength continued to support middle-income families' financial-security needs. The company repurchased 110.8 million dollars of stock in the quarter and declared a 0.65 dollar dividend payable September 11, 2023.