CNO FINANCIAL Reports Q2 Earnings Results for FY2023
August 9, 2023
🌥️Earnings Overview
CNO ($NYSE:CNO): Total revenue was USD 1022.8 million, a 19.6% increase compared to the same quarter in the previous year. Unfortunately, net income for the quarter experienced a 45.8% year-over-year decrease, amounting to USD 73.7 million.
Share Price
CNO FINANCIAL recently released their second quarter earnings report for FY2023. On Monday, CNO FINANCIAL stock opened at $25.5 and closed at $25.7, up by 0.7% from the prior closing price of $25.5. This was evidence of the strong performance of the company during the quarter, supported by the positive results in their report. The strong performance of CNO FINANCIAL in the quarter came despite rising costs associated with expanding its reach into new markets and launching new products and services.
These costs, however, were offset partially by lower interest rates and improved operational efficiencies. Overall, CNO FINANCIAL’s financial report was very encouraging and showed strong growth compared to the previous quarter and year. The company’s stock performance is a reflection of its steady growth and investor confidence in the company’s future prospects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cno Financial. More…
| Total Revenues | Net Income | Net Margin |
| 3.91k | 221.3 | 5.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cno Financial. More…
| Operations | Investing | Financing |
| 520.9 | -1.78k | 1.2k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cno Financial. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 34.05k | 32.06k | 17.56 |
Key Ratios Snapshot
Some of the financial key ratios for Cno Financial are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.4% | – | 12.4% |
| FCF Margin | ROE | ROA |
| 13.3% | 15.1% | 0.9% |
Analysis
GoodWhale has made a thorough analysis of CNO Financial‘s fundamentals and concluded that the company is strong in dividends and medium in assets, however weak in growth and profitability. Based on this, CNO Financial is classified as a ‘cow’, a type of company with the track record of consistently paying out sustainable dividends. This company may be of interest to investors who are searching for a reliable source of income. In addition, CNO Financial has a high health score of 7/10, taking into account its cash flows and debt level, which indicates that it is able to ride out any crisis without the risk of bankruptcy. For these reasons, CNO Financial is an attractive option for those investors looking for a long-term dividend yield. More…
Peers
Its competitors are National Western Life Group Inc, Wustenrot & Wurttembergische AG, and iA Financial Corp Inc.
– National Western Life Group Inc ($NASDAQ:NWLI)
National Western Life Group Inc is a holding company that operates through its subsidiaries engaged in the life insurance business. Its products include whole life, term life, universal life, and annuities. The company was founded in 1906 and is headquartered in Austin, Texas.
– Wustenrot & Wurttembergische AG ($LTS:0GJN)
Wustenrot & Wurttembergische AG is a German mutual insurance company headquartered in Stuttgart. As of 2022, it had a market capitalization of €1.44 billion and a return on equity of 14.21%. The company provides a range of insurance products, including life, health, property and casualty, and pension products, as well as banking and investment products.
– iA Financial Corp Inc ($TSX:IAG)
AmeriA Financial Corp Inc has a market cap of 7.68B as of 2022. The company has a Return on Equity of 9.41%. AmeriA Financial Corp Inc is a provider of insurance and financial services. The company offers a range of products and services, including life insurance, annuities, and investments.
Summary
CNO Financial reports a 19.6% increase in total revenue for the second quarter of FY2023 compared to the same quarter last year.
However, reported net income decreased by 45.8%, amounting to USD 73.7 million. Investors in CNO Financial should consider these results when analyzing the company’s performance and future prospects. Factors such as revenue growth, profitability, and cash flow should also be taken into consideration when examining CNO Financial’s investment opportunities. Overall, despite the quarter’s decrease in net income, CNO Financial still presents an attractive investment opportunity given its strong growth in revenue.
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