Torchmark: 2Q Earnings Snapshot
MCKINNEY, Texas (AP) _ Torchmark Corp. (TMK) on Wednesday reported second-quarter earnings of $186.6 million.
On a per-share basis, the McKinney, Texas-based company said it had net income of $1.67.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.
The life and health insurance company posted revenue of $1.13 billion in the period.
Torchmark expects full-year earnings in the range of $6.67 to $6.77 per share.
Torchmark shares have climbed 22% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. In the final minutes of trading on Wednesday, shares hit $90.88, an increase of 7.5% in the last 12 months.