Horace Mann Announces Q2 Catastrophe Losses Between $41M-$43M, Pre-Tax, As Weather-Driven Losses Rise Across Industry; Sees Q2 EPS $0.01-$0.03
Portfolio Pulse from Happy Mohamed
Horace Mann Educators Corporation (HMN) expects Q2 2023 core EPS to be between $0.01 and $0.03 due to strong performance of its Worksite and Life & Retirement businesses offsetting the impact of increased weather activity. Catastrophe losses are expected to be between $41M and $43M, pre-tax. The company's longer-term outlook remains largely unchanged due to the accelerating impact of P&C rate actions and the growing significance of its new Worksite business. Full-year 2023 EPS guidance now reflects an increase in the full-year catastrophe loss estimate to $95M to $100M.
July 20, 2023 | 8:41 pm
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Horace Mann's Q2 2023 core EPS is expected to be between $0.01 and $0.03, with catastrophe losses between $41M and $43M. The company's longer-term outlook remains largely unchanged.
The news directly pertains to Horace Mann's financial performance. While the expected Q2 EPS is low, the company's strong performance in other areas and unchanged long-term outlook may offset any potential negative impact. However, the increased catastrophe losses could put some downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100