Primerica earnings date
Primerica (PI7) Q3 2026 Earnings Report
DE:PI7 Q3 2026 EPS Results
- Actual EPS
- EUR 6.14
- Consensus EPS
- EUR 5.80
- Beat/Miss
- Beat by +EUR 0.34
- One Year Ago EPS
- EUR 5.74
DE:PI7 Q3 2026 Revenue Results
- Actual Revenue
- EUR 829.13M
- Expected Revenue
- EUR 817.34M
- Beat/Miss
- Beat by +EUR 11.79M
- YoY Revenue Growth
- +6.98%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/04/2026
- Time
- After Close
- Conference Call
- Wednesday, November 4, 2026
Primerica's next earnings date is estimated for February 16, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was broadly positive, led by record Investment business results, 19% growth in investment sales and revenue, 21% growth in Investment pretax income, higher assets under management and client flows, strong capital returns, and a 33.9% return on adjusted equity. These strengths were partly offset by declines in recruiting, licensing, sales-force size and Term Life production, along with lower Term Life pretax income and margin, higher lapse rates, rising expenses and increased unrealized investment losses. Management nevertheless described recruiting and Term Life trends as moderating and provided continued growth expectations for the Investment business.
Primerica expects negative trends to further moderate in the fourth quarter; year-end 2026 sales force size is expected to be down around 3% compared to December 31, 2025, fourth quarter issued policies to be down low single digits, and full year 2026 issued policies down between 8% and 10%. Full year adjusted direct premiums are expected to grow around 3.5%, while fourth quarter benefits and claims ratio is expected to be around 58%, DAC amortization and commissions ratio around 12% to 13%, and operating margin approximately 21%. Fourth quarter investment sales are expected to increase mid-single digits and full year 2026 investment sales to increase mid- to high teens compared to the prior year period; fourth quarter expenses are expected to increase around 10%, full year expense growth is expected to be around 7% to 8%, and the fourth quarter effective tax rate is expected to be around 22%.
- Revenue, Earnings and EPS GrowthThird-quarter adjusted operating revenues were $902 million, up 8% year over year. Adjusted net operating income was $209 million, up 2%, and diluted adjusted operating earnings per share was $6.77, up 7%.
- Strong Capital ReturnsPrimerica repurchased $122 million of common stock and paid $37 million in regular dividends during the third quarter. Year to date, the company returned $511 million of capital to stockholders through share repurchases and dividends.
- Record Investment Business PerformanceThe Investment business delivered another record quarter, supported by record sales, record average client asset values, resilient demand, favorable demographic trends and continued equity market tailwinds. Investment revenue increased 19% and pretax income increased 21% year over year.
- Broad-Based Investment Sales GrowthTotal securities sales increased 19% year over year despite comparison with exceptional results in the prior-year period. Variable annuity sales grew 29%, managed account sales increased 27%, and mutual fund sales increased 8%.
- Growth in Assets and Client FlowsAssets under management ended the quarter at $140 billion, up 10% from September 30, 2025. Net client flows were $407 million, reflecting favorable demand for investment solutions and the ongoing strength of the distribution model.
- Higher-Value Investment Product MixAsset-based revenues increased 21%, outpacing the 14% increase in average client values. The company attributed this performance to strong demand for U.S. managed account advisory solutions and Canada mutual funds sold under the principal distributor model, which generate higher levels of recurring fee-based revenue.
- Investment Sales OutlookThe company expects fourth-quarter investment sales to increase mid-single digits and full-year 2026 investment sales to increase mid- to high teens compared to the prior-year period.
- Durable Investment Client RetentionManagement stated that Primerica's redemption rates run about 2/3 of the industry average and that flows remain positive. It also reported that 74% of client accounts are qualified retirement accounts, which management described as particularly sticky.
- Strong Return on Equity and Financial PositionPrimerica delivered a 33.9% return on adjusted equity. The holding company ended the quarter with $600 million in cash and available-for-sale securities, and Primerica Life's estimated RBC ratio was 445%.
- Term Life Premium Growth and Stable Claims RatioTerm Life adjusted direct premiums increased 3% year over year, and the company continues to expect full-year adjusted direct premiums to grow around 3.5%. Excluding remeasurement gains, the benefit and claims ratio was relatively consistent at 58.7% versus 58.3% in the prior-year period.
- Mortgage Business StabilityU.S. mortgage loan volumes remained steady in the third quarter even as interest rates reached multiyear highs. In Canada, mortgage referrals through the company's strategic lending partner increased.
- Corporate and Other Income ImprovementCorporate and Other Distributed Products generated pretax adjusted operating income of $5.3 million, compared with $3.8 million in the prior-year period, primarily driven by higher net investment income.
- Tax Rate BenefitThe effective tax rate was 23.1% versus 23.9% in the prior-year period, primarily reflecting the benefit of an income tax credit transaction. The company expects a similar tax benefit in the fourth quarter, resulting in an effective tax rate around 22%.
- Continued Investment in Growth and TechnologyPrimerica is continuing to invest in front-end technology, CRM, infrastructure modernization, sales-force support, client experience and tools intended to improve sales-force productivity. Management also plans new growth incentives, expanded strategic messaging and growth-oriented initiatives around the company's 50th anniversary and 2027 convention.
- Positive Term Life Trend ExpectationsManagement expects year-to-date negative Term Life trends to continue moderating and forecasts fourth-quarter issued policies to be down low single digits, resulting in full-year 2026 issued policies down between 8% and 10%.
DE:PI7 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 16, 2027 | 2026 (Q4) | 5.89- | 5.56 | ― | ― |
| Nov 04, 2026 | 2026 (Q3) | 5.806.14 | 5.74 | 6.95% (+0.40) | |
| Aug 05, 2026 | 2026 (Q2) | 5.475.81 | 4.95 | 17.40% (+0.86) | |
| May 06, 2026 | 2026 (Q1) | 4.985.41 | 4.55 | 18.73% (+0.85) | |
| Feb 11, 2026 | 2025 (Q4) | 5.155.56 | 4.56 | 21.87% (+1.00) | |
| Nov 05, 2025 | 2025 (Q3) | 5.035.74 | 5.15 | 11.44% (+0.59) | |
| Jun 30, 2025 | 2025 (Q2) | 4.734.95 | 4.27 | 15.92% (+0.68) | |
| May 07, 2025 | 2025 (Q1) | 4.344.55 | 3.55 | 28.39% (+1.01) | |
| Feb 11, 2025 | 2024 (Q4) | 4.524.56 | 3.86 | 18.35% (+0.71) | |
| Nov 06, 2024 | 2024 (Q3) | 4.365.15 | 3.88 | 32.71% (+1.27) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
