I'm LongbridgeAI, I can summarize articles.Unum Group (UNM) reports Q2 earnings this Tuesday. Last quarter, revenue missed estimates at $2.93B (-11.3% YoY), with a book value miss but narrow EPS beat. This quarter, analysts expect revenue to decline 10.6% YoY. While insurance peers like Globe Life and First American Financial reported growth, Unum has lagged its sector, down 3.9% recently against an average price target of $102.23.
Employee benefits provider Unum Group will be reporting results this Tuesday afternoon. Here’s what investors should know.
Unum Group missed analysts’ revenue expectations last quarter, reporting revenues of $2.93 billion, down 11.3% year on year. It was a slower quarter for the company, with a significant miss of analysts’ book value per share estimates and a narrow beat of analysts’ EPS estimates.
Is Unum Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Unum Group’s revenue to decline 10.6% year on year, a reversal from the 4.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Unum Group has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Unum Group’s peers in the insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Globe Life delivered year-on-year revenue growth of 6.1%, meeting analysts’ expectations, and First American Financial reported revenues up 15%, topping estimates by 3.4%. Globe Life traded down 7% following the results while First American Financial was also down 2.2%.
Read our full analysis of Globe Life’s results here and First American Financial’s results here.
There has been positive sentiment among investors in the insurance segment, with share prices up 4% on average over the last month. Unum Group is down 3.9% during the same time and is heading into earnings with an average analyst price target of $102.23 (compared to the current share price of $86.22).
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