Horace Mann Educators reported third-quarter results after the market close on Tuesday, and its stock rose nearly 6% the next day. Revenue was just over $439 million, marginally higher year over year, while core non-GAAP net income rose 50% to more than $85 million, or $2.06 per share, an all-time high. Both figures beat analyst estimates of $323 million in revenue and $1.08 per share. CEO Marita Zuraitis credited strong property and casualty underwriting, higher net investment income and growth across diversified businesses. The company raised its full-year core EPS guidance to $5.75–$5.95 from $4.60–$4.90, its second consecutive raise, and the author says the investor reaction was, if anything, understated.
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Original headline: Why Horace Mann Educators Stock Soared Today
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