Unum: 4Q Earnings Snapshot
CHATTANOOGA, Tenn. (AP) _ Unum Group (UNM) on Tuesday reported fourth-quarter profit of $249.1 million.
On a per-share basis, the Chattanooga, Tennessee-based company said it had net income of $1.15. Earnings, adjusted for investment costs, came to $1.30 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.31 per share.
The insurance company posted revenue of $2.88 billion in the period. Its adjusted revenue was $2.92 billion, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $2.93 billion.
For the year, the company reported profit of $523.4 million, or $2.38 per share. Revenue was reported as $11.64 billion.
Unum shares have risen 18 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 9 percent. In the final minutes of trading on Tuesday, shares hit $34.68, a drop of 31 percent in the last 12 months.