CNO sees smaller profit after paying off debt

Back to TopCommentsE-mailPrintBookmark and Share

CNO Financial Group Inc. saw a major drop in earnings in the first quarter after suffering a $57.2 million loss in the period on the extinguishment of debt.

The Carmel-based parent of insurers Bankers Life, Colonial Penn and Washington National on Wednesday reported quarterly earnings of $11.9 million, or 5 cents a share, compared with $59.1 million, or 21 cents per share, for the same quarter of 2012.

Revenue improved to $1.14 billion in the quarter, from $1.12 billion last year.

Operating earnings of $49.7 million, or 21 cents per share, met analyst expectations.

CNO shares closed at $11.18 each on Wednesday before the earnings announcement and are up 19.8 percent since the beginning of the year.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ