Globe Life Inc Our Earnings Guidance Anticipates About $350M-$370M Of Share Repurchases For Full Year; Projects Net Operating Income Between $11.50-$12.00 Per Diluted Common Share For Year Ending December 31, 2024; Says During Most Of Q1, Company Was In A "Blackout Period" Due To A Potential Acquisition That Is No Longer Being Actively Considered; Says Globe Life Will Immediately Resume Buybacks Once Blackout For Q1 Earnings Is Over
Portfolio Pulse from Benzinga Newsdesk
Globe Life Inc projects its full-year earnings guidance with $350M-$370M in share repurchases and a net operating income of $11.50-$12.00 per diluted common share for the year ending December 31, 2024. The company was in a blackout period for most of Q1 due to a potential acquisition, which is no longer being considered. Globe Life plans to resume share buybacks immediately after the Q1 earnings blackout period ends.
April 22, 2024 | 9:01 pm
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Globe Life Inc anticipates significant share repurchases and a strong net operating income for 2024, with plans to resume buybacks after a Q1 blackout period.
The announcement of a substantial share repurchase program and a positive earnings guidance for 2024 indicates a strong financial outlook for Globe Life Inc, which is likely to be viewed positively by investors. The resumption of share buybacks after the blackout period could further support the stock price as it reflects the company's confidence in its financial health and commitment to returning value to shareholders. The halted acquisition might have caused uncertainty, but the clarity provided and the focus on share repurchases could offset any negative sentiment.
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