Published on 10 May 2024 on Zacks via Yahoo Finance
Primerica, Inc. PRI shares have lost nearly 1% since it reported first-quarter earnings on May 6, 2024. Investors are concerned about the poor performance in the Senior Health segment due to the high cost of acquisition and lower sales volume. It expects a loss of around $25-30 million in 2024 in this segment. However, an increase in average client asset values, net investment income and rising commissions partially offset the negatives.
Primerica reported a first-quarter 2024 adjusted earnings of $3.91 per share, which missed the Zacks Consensus Estimate by 4.9%. However, the bottom line jumped 12% from the prior-year quarter.