Torchmark: 2Q Earnings Snapshot
MCKINNEY, Texas (AP) _ Torchmark Corp. (TMK) on Wednesday reported second-quarter earnings of $184 million.
The McKinney, Texas-based company said it had net income of $1.59 per share. Earnings, adjusted for non-recurring gains, came to $1.51 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.
The life and health insurance company posted revenue of $1.09 billion in the period. Its adjusted revenue was $1.07 billion.
Torchmark expects full-year earnings in the range of $6.02 to $6.12 per share.
Torchmark shares have dropped nearly 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 6.5 percent. In the final minutes of trading on Wednesday, shares hit $83.82, a rise of slightly more than 6 percent in the last 12 months.