CNO Financial reports Q3 operating EPS $1.11, consensus 82c

Reports Q3 revenue $1.13B, consensus $945.44M. “CNO delivered another quarter of excellent net operating income and sales performance, reflecting continued agent force growth, and ongoing strength in our underwriting margins and net investment income,” said Gary Bhojwani, chief executive officer. “We posted our ninth consecutive quarter of sales growth, led by record annuity collected premiums and strong Medicare and long-term care sales. Our sustained sales growth is translating into earnings growth, with operating earnings per share up 26%. All Growth Scorecard performance metrics are up once again. As we advance our growth strategy, we continue to optimize the balance between production, profitability and capital management. CNO has a unique and differentiated position to serve the middle-income market through our products, distribution capabilities and proven track record of execution. We enter the fourth quarter with momentum, supported by favorable demographic trends, a supportive macroeconomic environment and our strong financial position.”