Fourth Quarter Results Show Sustained Growth at Primerica

Admin   |   12 February, 2015   |   371   |   3980

Strong sales of investment and savings products contributed to a solid fourth quarter at Primerica Inc. (PRI—NYSE). This week the financial services provider posted quarterly revenue of $345.4 million, up 9 percent versus the prior-year period.

Fourth quarter earnings were 84 cents per share, narrowly missing the Zacks Investment Research consensus estimate of 85 cents. The company reported record annual sales of its investment and savings offerings, which increased 14 percent in the fourth quarter to close out the year at $5.68 billion. The quarter also yielded a 13 percent increase in new representatives, primarily due to improved incentive programs and messaging.

The Duluth, Georgia-based company logged another year of growth in 2014, generating revenue of $1.34 billion, a 9 percent year-over-year increase. Net income totaled $182.8 million. Primerica attributes the strong performance to growth in its Term Life net premiums as well as the aforementioned investment and savings category.