Torchmark Q2 Profit Misses Estimates; Updates Full Year Earnings Guidance

(RTTNews) - Torchmark Corp. (TMK) reported second-quarter net income of $127.1 million compared to $130.9 million, a year ago. Earnings per share was $1.00 compared to $0.98. Net operating income was $1.05 per share, for the quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $1.06 for the quarter. Analysts' estimates typically exclude special items.

Total revenue was $1.03 billion compared to $991.04 million, a year ago. Total premium increased to $835.57 million from $799.87 million. Analysts expected revenue of $1.00 billion for the quarter.

Torchmark projects that for the year ending December 31, 2015, net operating income per share will be in a range of $4.18 to $4.28. The company said the midpoint of $4.23 is $0.05 lower than previous guidance due to higher than expected direct response benefits expense. Analysts expect the company to report earnings per share of $4.29.