Kansas City Life Announces Third Quarter 2024 Results
Kansas City Life Insurance Company (KCLI) reported Q3 2024 net income of $1.3 million ($0.14 per share), down from $4.6 million ($0.47 per share) in Q3 2023. However, nine-month results improved with net income of $7.6 million ($0.79 per share) compared to $5.8 million ($0.60 per share) in 2023. Q3 performance was impacted by lower insurance revenues and higher policyholder benefits, while benefiting from increased net investment income and gains. The company maintained quarterly dividends at $0.14 per share.
La Kansas City Life Insurance Company (KCLI) ha riportato un reddito netto per il terzo trimestre del 2024 di 1,3 milioni di dollari (0,14 dollari per azione), in calo rispetto ai 4,6 milioni di dollari (0,47 dollari per azione) del terzo trimestre del 2023. Tuttavia, i risultati dei nove mesi sono migliorati con un reddito netto di 7,6 milioni di dollari (0,79 dollari per azione) rispetto ai 5,8 milioni di dollari (0,60 dollari per azione) del 2023. Le performance del terzo trimestre sono state influenzate da minori entrate assicurative e da maggiori benefici per gli assicurati, mentre hanno tratto vantaggio da un aumento del reddito netto da investimenti e guadagni. L'azienda ha mantenuto i dividendi trimestrali a 0,14 dollari per azione.
La Kansas City Life Insurance Company (KCLI) reportó un ingreso neto del tercer trimestre de 2024 de 1,3 millones de dólares (0,14 dólares por acción), lo que representa una disminución con respecto a los 4,6 millones de dólares (0,47 dólares por acción) en el tercer trimestre de 2023. Sin embargo, los resultados de nueve meses mejoraron con un ingreso neto de 7,6 millones de dólares (0,79 dólares por acción) en comparación con 5,8 millones de dólares (0,60 dólares por acción) en 2023. El rendimiento del tercer trimestre se vio afectado por menores ingresos por seguros y mayores beneficios para los asegurados, a la vez que se benefició de un aumento en el ingreso neto por inversiones y ganancias. La compañía mantuvo los dividendos trimestrales en 0,14 dólares por acción.
캔자스 시티 생명보험 회사(KCLI)는 2024년 3분기 순이익이 130만 달러(주당 0.14 달러)로, 2023년 3분기 460만 달러(주당 0.47 달러)에서 감소했다고 보고했습니다. 그러나 9개월 동안의 결과는 760만 달러(주당 0.79 달러)로 개선되었으며, 이는 2023년 580만 달러(주당 0.60 달러)와 비교됩니다. 3분기 실적은 낮은 보험 수익과 증가한 보험 가입자 혜택의 영향을 받았지만, 증가한 순투자 수익과 이익 덕분에 긍정적인 결과를 얻었습니다. 회사는 분기 배당금을 주당 0.14 달러로 유지했습니다.
La Kansas City Life Insurance Company (KCLI) a annoncé un revenu net pour le troisième trimestre de 2024 de 1,3 million de dollars (0,14 dollar par action), en baisse par rapport à 4,6 millions de dollars (0,47 dollar par action) au troisième trimestre de 2023. Toutefois, les résultats des neuf premiers mois se sont améliorés avec un revenu net de 7,6 millions de dollars (0,79 dollar par action) contre 5,8 millions de dollars (0,60 dollar par action) en 2023. Les performances du troisième trimestre ont été affectées par des revenus d'assurance plus faibles et des prestations pour les assurés plus élevées, tout en bénéficiant d'un revenu net d'investissement et de gains accrus. L'entreprise a maintenu les dividendes trimestriels à 0,14 dollar par action.
Die Kansas City Life Insurance Company (KCLI) berichtete von einem Nettoeinkommen im 3. Quartal 2024 in Höhe von 1,3 Millionen Dollar (0,14 Dollar pro Aktie), was einen Rückgang im Vergleich zu 4,6 Millionen Dollar (0,47 Dollar pro Aktie) im 3. Quartal 2023 darstellt. Die Ergebnisse der ersten neun Monate verbesserten sich jedoch mit einem Nettoeinkommen von 7,6 Millionen Dollar (0,79 Dollar pro Aktie) verglichen mit 5,8 Millionen Dollar (0,60 Dollar pro Aktie) im Jahr 2023. Die Leistung im 3. Quartal wurde durch niedrigere Versicherungsumsätze und höhere Leistungen für Versicherte beeinträchtigt, profitierte jedoch von höheren Nettoinvestitionserträgen und Gewinnen. Das Unternehmen hielt die vierteljährlichen Dividenden bei 0,14 Dollar pro Aktie konstant.
- Nine-month net income increased to $7.6M from $5.8M year-over-year
- Improved net investment income and gains in Q3 2024
- Total revenues increased to $375M for nine months from $372.5M year-over-year
- Q3 2024 net income decreased 71% to $1.3M from $4.6M year-over-year
- Lower insurance revenues in Q3 2024
- Higher policyholder benefits and death benefits in Q3 2024
- Increased operating expenses in nine-month period
The results for the third quarter of 2024 reflected lower insurance revenues and higher policyholder benefits, specifically from death benefits, and interest credited to policyholder account balances versus the prior year. Improvements for the quarter included increases in net investment income and net investment gains.
The improvement in the first nine months of 2024 compared to the prior year largely resulted from increases in net investment income and net investment gains and a decrease in policyholder benefits. Partially offsetting these were a decrease in insurance revenues and increases in operating expenses and interest credited to policyholder account balances.
Kansas City Life Insurance Company (OTCQX: KCLI) was established in 1895 and is based in
Kansas City Life Insurance Company Condensed Consolidated Income Statement (amounts in thousands, except share data) | |||||||||||
Quarter Ended | Nine Months Ended | ||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||
Revenues | $ | 125,147 | $ | 122,626 | $ | 374,967 | $ | 372,547 | |||
Net income | $ | 1,321 | $ | 4,599 | $ | 7,610 | $ | 5,821 | |||
Net income per share, basic and diluted | $ | 0.14 | $ | 0.47 | $ | 0.79 | $ | 0.60 | |||
Dividends paid | $ | 0.14 | $ | 0.14 | $ | 0.42 | $ | 0.42 | |||
Average number of shares outstanding | 9,683,414 | 9,683,414 | 9,683,414 | 9,683,414 | |||||||
View original content:https://www.prnewswire.com/news-releases/kansas-city-life-announces-third-quarter-2024-results-302294335.html
SOURCE Kansas City Life Insurance Company
FAQ
What was KCLI's net income for Q3 2024?
How did KCLI's Q3 2024 results compare to Q3 2023?
What dividend did KCLI pay in Q3 2024?
What were KCLI's total revenues for the first nine months of 2024?
