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Torchmark Corp  (TMK)
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    Sector  Financial    Industry Life Insurance
 
 

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Torchmark Corp announced forth quarter 2016 operating income of $692.54 millions, company raises it's earnings guidance.



For the forth quarter 2016 Torchmark Corp earnings grew modestly by 3.75 % of $1.10 per share compare to $1.06 a year ago and profits fell by -11.89 % from $1.25 per share from the previous quarter.

Sales jumped by 37.16 % to $975 millions from $711 millions in the same quarter a year ago and sequentially Sales decreased by -1.46 % from $990 millions.


Torchmark Corp pointed out it's broad-based Sales growth, where sales increased within Life +5.53%, Health +9%, Investment +1.91%, Other +1.8% Company faced declining sales in Annuity -63.39%, Medicare Part D -14.24%, segments.
Torchmark Corp saw earnings improvements across it's entire business, except in Investment division, Income gains were in Life, Health, Annuity, Medicare Part D segments.
This improvement liften company-wide net earnings by 1.87 %, to $135 millions for the forth quarter 2016, $133 millions reported in the same quarter a year before. Torchmark Corp shifted it's focus on improving sales in the forth quarter 2016, as a result net margin eased to 13.89%. Company said it sees now it's eps between $4.25 and $4.55, an improvement by $0.17 compare to previous guidance.
Looking into financial results for the fiscal year 2016, Torchmark Corp reported Sales of $3.93 billions and net income of $550 millions.

Life Insurance Company explained also, that Income improved by 7.93 % to $4.49 per share from $4.16 in the previous fiscal year, while Sales increased by 4.48 % from $3.77 billions a year ago.

Torchmark Corp is expected to report next financial results on April 21, 2017.
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