Globe Life | 8-K: FY2026 Q2 Revenue: USD 1.6 B

Revenue: As of FY2026 Q2, the actual value is USD 1.6 B.

EPS: As of FY2026 Q2, the actual value is USD 3.65, beating the estimate of USD 3.6388.

EBIT: As of FY2026 Q2, the actual value is USD 390.94 M.

Second Quarter 2026 Financial Highlights

Overall Performance

For the second quarter ended June 30, 2026, Globe Life Inc. reported net income of $287,747 thousand, compared to $252,749 thousand for the year-ago quarter. Net operating income was $284,685 thousand, up from $271,095 thousand in the prior year quarter. Total premium revenue grew to $1,297,622 thousand, an increase from $1,217,643 thousand in the year-ago quarter. Insurance underwriting income for the quarter was $370,289 thousand, compared to $354,176 thousand in the same period last year. Excess investment income increased to $38,315 thousand from $34,828 thousand year-over-year.

Year-to-Date Performance (Six Months Ended June 30, 2026)

Net income for the six months ended June 30, 2026, was $558,273 thousand, compared to $507,312 thousand in the prior year period. Net operating income for the six months was $558,205 thousand, up from $530,432 thousand. Net income as a Return on Equity (ROE) was 18.4% for the six months ended June 30, 2026, slightly down from 18.8% in the prior year. Net operating income as an ROE excluding accumulated other comprehensive income (AOCI) was 14.3%, a slight decrease from 14.4% in the previous year. Shareholders’ equity stood at $6,155,815 thousand, an increase from $5,419,030 thousand. Shareholders’ equity, excluding AOCI, increased to $7,877,544 thousand from $7,402,898 thousand. Book value per share was $78.18, up from $66.07, and book value per share excluding AOCI was $100.04, an increase from $90.26.

Premium Revenue by Product Type

Life insurance premium revenue for the quarter was $860,767 thousand, up from $839,544 thousand in the year-ago quarter. Health insurance premium revenue increased to $436,855 thousand from $378,099 thousand.

Insurance Underwriting Income

Life underwriting margin for the quarter was $359,350 thousand, compared to $340,074 thousand. Health underwriting margin was $99,285 thousand, up from $98,057 thousand. Annuity and other income totaled $3,100 thousand, an increase from $2,092 thousand. Administrative expenses were - $91,446 thousand, compared to - $86,047 thousand. The ratio of administrative expenses to premium improved slightly to 7.0% from 7.1%.

Life Insurance Results by Distribution Channel

• Life Underwriting Margin: American Income Division reported $213,604 thousand, Direct to Consumer Division $75,876 thousand, Liberty National Division $36,652 thousand, and Other $33,218 thousand.
• Life Premium: American Income Division generated $466,334 thousand, Direct to Consumer Division $244,220 thousand, Liberty National Division $100,516 thousand, and Other $49,697 thousand.
• Life Net Sales: American Income Division recorded $94,733 thousand, Direct to Consumer Division $26,578 thousand, Liberty National Division $26,131 thousand, and Other $2,165 thousand.

Health Insurance Results by Distribution Channel

• Health Underwriting Margin: United American Division reported $10,914 thousand, Family Heritage Division $45,087 thousand, Liberty National Division $23,145 thousand, American Income Division $18,221 thousand, and Direct to Consumer Division $1,918 thousand.
• Health Premium: United American Division generated $211,416 thousand, Family Heritage Division $126,273 thousand, Liberty National Division $47,403 thousand, American Income Division $30,805 thousand, and Direct to Consumer Division $20,958 thousand.
• Health Net Sales: United American Division recorded $27,894 thousand, Family Heritage Division $30,725 thousand, Liberty National Division $6,991 thousand, American Income Division $4,093 thousand, and Direct to Consumer Division $696 thousand.

Producing Exclusive Agent Count

• Quarterly Average Producing Agent Count: American Income Division had 11,391 agents, Liberty National Division 4,194 agents, and Family Heritage Division 1,608 agents.

Investments

Net investment income increased 4% to $293,820 thousand, while required interest on policy liabilities increased 3% to - $255,505 thousand. The investment portfolio at book value totaled $20,789,563 thousand as of June 30, 2026, comprising $17,940,189 thousand in fixed maturities at fair value, $425,513 thousand in mortgage loans, $758,676 thousand in policy loans, $1,466,858 thousand in other long-term investments, and $198,327 thousand in short-term investments. Fixed maturities at amortized cost were $19.3 billion, with 97% rated “investment grade.” The fixed maturity portfolio earned an annual taxable equivalent effective yield of 5.30%. Fixed maturity acquisitions for the quarter amounted to $399,143 thousand with an average annual effective yield of 6.3%. Other investment acquisitions totaled $91,247 thousand, including $63,728 thousand in limited partnerships, $25,179 thousand in mortgage loans, and $2,340 thousand in common stock.

Share Repurchases

Globe Life Inc. repurchased 1.1 million shares of common stock during the quarter at a total cost of $175 million, with an average share price of $154.28.

Outlook / Guidance

Globe Life Inc. increased its full-year 2026 earnings guidance to a range of $15.55 to $15.95 per diluted common share, representing an increase of $0.10 at the midpoint.