Primerica, Inc. reported a 25% rise in second-quarter sales over the same period the previous year. With total revenues of $654.7 million and a net income of $128.2 million, the company had a profit of $128.2 million. The company’s earnings per diluted share (EPS) grew by 28 percent year over year to $3.22. The return on investment (ROI) remained at 26.3 percent.
“Sales performance in our core businesses continue to be quite strong,” said Glenn Williams, CEO. “As the licensing process normalizes and new hires resume their pre-COVID activities, we are delighted by our ongoing progress and remain focused on increasing our sales force.”
Customers exhibited a strong desire for future and retirement planning solutions, and Primerica’s investment goods sales for the quarter surpassed $3 billion, a new high for the firm.
Sales commissions and operational expenditures rose $9.2 million, with $2.1 million of that coming from the company’s acquisition of e-TeleQuote. The company’s cash on hand and investment assets reached $666 million at the end of June. That figure stood at $169.1 million immediately after the transaction was funded.
Term Life Insurance had a 17 percent increase in revenue year over year to $383.5 million. Death claims in the Term Life sector increased due to increased mortality, owing in part to COVID-related fatalities.
The business announced a $0.47 per share dividend, which will be paid on September 14, 2021.