Unum ( NYSE: UNM ) shares are perking up 4.2% in Tuesday afterhours trading after the life and health insurer lifted its full-year operating income guidance after its Q2 earnings breezed past the Wall Street consensus.
The company sees after-tax adjusted operating income per share to advance 40% to 45% from 2021, compared with the prior view of 15% to 20%.
Its stronger than expected Q2 results, meanwhile, reflected improving trends in COVID-related mortality impacts, robust operating performance as well as solid sales and premium trends in core business segments, the company said.
After-tax adjusted operating income of $1.91 per share topped the average analyst estimate of $1.22 and jumped from $1.39 in the year-ago period.
Revenue of $3.04B also beat the consensus of $2.99B and increased from $2.99B in Q1 of last year.
Q2 book value of $48.47 per share, though, fell from $53.57 in Q2 2021.
Unum US adjusted operating income was $295.4M in Q2, up from $179.3M a year ago. Premium income for the segment rose 3.3% to $1.57B, and net investment income fell 8.6% to $167.8M.
Unum International adjusted operating income gained 0.4% to $24.9M Y/Y in Q2, as premium income fell 2.2% to $179.4M and net investment income jumped 42.3% to $50.8M.
Colonial Life Q2 adjusted operating income drifted up 5.5% to $101.1M in Q2 from a year ago; premium income rose 1.9% to $427.6M and net investment income decreased 7.0% to $38.7M.
Closed Block Segment Q2 adjusted operating income of $79.3M fell from $111.2M in the year-ago quarter; premium income fell 4.5% to $238.0M and net investment income fell 1.1% to $291.5M.
Conference call on August 3 at 8:00 a.m. ET.
In mid-July, Unum declared a quarterly dividend of $0.33 per share .
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Unum stock climbs after boosting 2022 operating income outlook, Q2 beat