Torchmark: 3Q Earnings Snapshot
MCKINNEY, Texas (AP) _ Torchmark Corp. (TMK) on Wednesday reported third-quarter profit of $179 million.
On a per-share basis, the McKinney, Texas-based company said it had net income of $1.55. Earnings, adjusted for non-recurring costs, came to $1.59 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.
The life and health insurance company posted revenue of $1.08 billion in the period.
Torchmark expects full-year earnings in the range of $6.08 to $6.14 per share.
Torchmark shares have decreased 11 percent since the beginning of the year, while the Standard & Poor’s 500 index has declined nearly 1 percent. In the final minutes of trading on Wednesday, shares hit $80.93, a fall of 3.5 percent in the last 12 months.