Kemper Announces Second Quarter Preliminary Results and Schedule for Earnings Release
Kemper (NYSE: KMPR) has announced its schedule for releasing second quarter 2024 earnings and provided preliminary results. The company expects to report net income between $70-$80 million and adjusted consolidated net operating income between $85-$95 million for Q2 2024. Kemper will release its earnings report, financial supplement, and Form 10-Q after market close on August 5, 2024, followed by a conference call at 5:00 pm Eastern time.
The company uses non-GAAP financial measures, including Adjusted Consolidated Net Operating Income, which excludes certain items to provide insights into underlying operational performance trends. These measures should not be considered substitutes for GAAP financial measures as they do not fully recognize the profitability of Kemper's businesses.
Kemper (NYSE: KMPR) ha annunciato il suo programma per la pubblicazione dei risultati del secondo trimestre 2024 e ha fornito risultati preliminari. L'azienda si aspetta di riportare un reddito netto compreso tra $70-$80 milioni e un reddito operativo netto consolidato rettificato compreso tra $85-$95 milioni per il Q2 2024. Kemper pubblicherà il suo rapporto sugli utili, il supplemento finanziario e il Modulo 10-Q dopo la chiusura del mercato il 5 agosto 2024, seguito da una conferenza telefonica alle 17:00 ora orientale.
L'azienda utilizza indicatori finanziari non-GAAP, incluso il Reddito Operativo Netto Consolidato Rettificato, che esclude alcuni elementi per fornire approfondimenti sulle tendenze delle prestazioni operative sottostanti. Questi indicatori non devono essere considerati sostituti delle misure finanziarie GAAP in quanto non riconoscono completamente la redditività delle attività di Kemper.
Kemper (NYSE: KMPR) ha anunciado su calendario para la publicación de resultados del segundo trimestre de 2024 y ha proporcionado resultados preliminares. La empresa espera reportar ingresos netos entre $70-$80 millones y ingresos netos operativos consolidados ajustados entre $85-$95 millones para el Q2 2024. Kemper publicará su informe de ganancias, suplemento financiero y el Formulario 10-Q después del cierre del mercado el 5 de agosto de 2024, seguido de una conferencia telefónica a las 5:00 p.m. hora del Este.
La empresa utiliza medidas financieras no-GAAP, incluyendo el Ingreso Neto Operativo Consolidado Ajustado, que excluye ciertos elementos para proporcionar perspectivas sobre las tendencias del rendimiento operativo subyacente. Estas medidas no deben ser consideradas como sustitutos de las medidas financieras GAAP, ya que no reconocen completamente la rentabilidad de los negocios de Kemper.
Kemper (NYSE: KMPR)가 2024년 2분기 실적 발표 일정을 공지하고 preliminarily 결과를 제공했습니다. 이 회사는 2024년 2분기에 대해 순이익이 7000만~8000만 달러 및 조정된 연결 순 운영 수익이 8500만~9500만 달러에 이를 것으로 예상하고 있습니다. Kemper는 2024년 8월 5일 시장 마감 후 실적 보고서, 재무 보충 자료 및 Form 10-Q를 발표하며, 동부 표준시 기준으로 오후 5시에 컨퍼런스 콜이 예정되어 있습니다.
이 회사는 조정된 연결 순 운영 수익을 포함한 비GAAP 재무 지표를 사용하며, 이는 특정 항목을 제외하여 기본 운영 성과 추세에 대한 통찰력을 제공합니다. 이러한 지표는 GAAP 재무 지표의 대안으로 간주되어서는 안 되며, Kemper의 비즈니스 수익성을 완전히 인식하지 않습니다.
Kemper (NYSE: KMPR) a annoncé son calendrier pour la publication des résultats du deuxième trimestre 2024 et a fourni des résultats préliminaires. L'entreprise prévoit de rapporter un revenu net compris entre 70 et 80 millions de dollars et un revenu net consolidé d'exploitation ajusté compris entre 85 et 95 millions de dollars pour le deuxième trimestre 2024. Kemper publiera son rapport sur les bénéfices, son supplément financier et le formulaire 10-Q après la clôture du marché le 5 août 2024, suivi d'une conférence téléphonique à 17h00, heure de l'Est.
L'entreprise utilise des mesures financières non-GAAP, y compris le revenu net d'exploitation consolidé ajusté, qui exclut certains éléments pour fournir des informations sur les tendances de la performance opérationnelle sous-jacente. Ces mesures ne doivent pas être considérées comme des substituts des mesures financières GAAP, car elles ne reconnaissent pas pleinement la rentabilité des entreprises de Kemper.
Kemper (NYSE: KMPR) hat seinen Zeitplan für die Veröffentlichung der Ergebnisse des zweiten Quartals 2024 angekündigt und vorläufige Ergebnisse bereitgestellt. Das Unternehmen erwartet, einen Nettogewinn zwischen 70 und 80 Millionen Dollar sowie eine bereinigte konsolidierte Nettobetriebseinnahme zwischen 85 und 95 Millionen Dollar für Q2 2024 zu berichten. Kemper wird seinen Ergebnisbericht, finanzielle Ergänzungen und das Formular 10-Q nach Marktschluss am 5. August 2024 veröffentlichen, gefolgt von einer Telefonkonferenz um 17:00 Uhr Eastern Time.
Das Unternehmen verwendet nicht-GAAP-Finanzkennzahlen, darunter den bereinigten konsolidierten Nettobetriebsertrag, der bestimmte Posten ausschließt, um Einblicke in die zugrunde liegenden Trends der operativen Leistung zu geben. Diese Kennzahlen sollten nicht als Ersatz für GAAP-Finanzkennzahlen angesehen werden, da sie die Rentabilität von Kemers Geschäften nicht vollständig erfassen.
- Projected net income of $70-$80 million for Q2 2024
- Adjusted consolidated net operating income expected between $85-$95 million
- None.
Insights
Kemper 's preliminary Q2 2024 results offer a mixed picture for investors. The company projects net income between
The use of non-GAAP financial measures, particularly the 'Adjusted Consolidated Net Operating Income,' warrants careful consideration. While this metric aims to provide insight into underlying operational trends by excluding certain items, investors should be aware that it may not fully capture the company's financial reality. The exclusions, such as changes in fair value of securities and realized investment gains/losses, can significantly impact the bottom line in the insurance industry.
Kemper's decision to exclude results from its Preferred Insurance business, which it plans to exit, is noteworthy. This exclusion could potentially mask the full picture of the company's current operations and the potential impact of this business exit on future performance.
Investors should pay close attention to the upcoming earnings release and conference call for a more comprehensive understanding of Kemper's financial health, including key metrics like combined ratio, premium growth and investment portfolio performance. The preliminary results provide a snapshot, but the devil will be in the details of the full earnings report.
Kemper's preliminary Q2 2024 results highlight the complexities of evaluating insurance company performance. The projected net income and adjusted net operating income ranges suggest a profitable quarter, but without context, it's difficult to assess whether this represents improvement or decline.
The company's use of adjusted consolidated net operating income as a key metric is common in the insurance industry. By excluding items like changes in fair value of equity securities and realized investment gains/losses, Kemper aims to provide a clearer picture of its core insurance operations. However, investors should remember that these excluded items can significantly impact an insurer's overall financial health and risk profile.
Particularly interesting is Kemper's plan to exit its Preferred Insurance business. This strategic move could potentially streamline operations and improve overall profitability, but it also raises questions about the company's growth strategy and market positioning. Investors should seek clarity on the expected timeline and financial implications of this exit during the upcoming earnings call.
The insurance industry is currently navigating challenges including inflation impacts on claims costs, evolving catastrophe risks and a dynamic interest rate environment. Kemper's full earnings release should provide insights into how well the company is managing these industry-wide pressures. Key areas to watch will include loss ratio trends, reserve adequacy and investment portfolio performance in light of recent market volatility.
PRELIMINARY RESULTS
Preliminary results for the second quarter of 2024 include net income between
CONFERENCE CALL DETAILS
Kemper will host its conference call to discuss second quarter 2024 results on Monday, August 5, at 5:00 pm Eastern (4:00 pm Central). The conference call will be accessible via the internet and telephone at 888.259.6580, Conference ID 19792463. To listen via webcast, register online at the investor section of kemper.com at least 15 minutes before the webcast to install any necessary software. A replay of the webcast will be available online at the investor section of kemper.com.
1 Non-GAAP financial measure. All non-GAAP financial measures are denoted with footnote 1 in this release. See below for further explanation on the use of non-GAAP financial measures.
USE OF NON-GAAP FINANCIAL MEASURES
Adjusted Consolidated Net Operating Income1 is computed by excluding from Net Income Attributable to Kemper Corporation the after-tax impact of:
(i) Change in Fair Value of Equity and Convertible Securities;
(ii) Net Realized Investment Gains (Losses);
(iii) Impairment Losses;
(iv) Acquisition and Disposition Related Transaction, Integration, Restructuring and Other Costs;
(v) Debt Extinguishment, Pension Settlement and Other Charges;
(vi) Goodwill Impairment Charges;
(vii) Non-Core Operations; and
(viii) Significant non-recurring or infrequent items that may not be indicative of ongoing operations.
Significant non-recurring items are excluded when (a) the nature of the charge or gain is such that it is reasonably unlikely to recur within two years and (b) there has been no similar charge or gain within the prior two years. The most directly comparable GAAP financial measure is Net Income Attributable to Kemper Corporation. Kemper excluded no applicable significant non-recurring items from the Adjusted Consolidated Net Operating Income calculation for the three months ended June 30, 2024.
Kemper believes that Adjusted Consolidated Net Operating Income provides investors with a valuable measure of its ongoing performance because it reveals underlying operational performance trends that otherwise might be less apparent if the items were not excluded. Change in Fair Value of Equity and Convertible Securities, Net Realized Investment Gains (Losses) and Impairment Losses related to investments included in Kemper’s results may vary significantly between periods and are generally driven by business decisions and external economic developments such as capital market conditions that impact the values of Kemper’s investments, the timing of which is unrelated to the insurance underwriting process. Acquisition and Disposition Related Transaction, Integration, Restructuring and Other Costs may vary significantly between periods and are generally driven by the timing of acquisitions and business decisions unrelated to the insurance underwriting process. Debt Extinguishment, Pension Settlement and Other Charges relate to (i) loss from early extinguishment of debt, which is driven by Kemper’s financing and refinancing decisions and capital needs, as well as external economic developments such as debt market conditions, the timing of which is unrelated to the insurance underwriting process; (ii) settlement of pension plan obligations which are business decisions made by Kemper, the timing of which is unrelated to the underwriting process; and (iii) other charges that are non-standard, not part of the ordinary course of business, and unrelated to the insurance underwriting process. Goodwill impairment charges are excluded because they are infrequent and non-recurring charges. Non-core operations include the results of our Preferred Insurance business, which we expect to fully exit. These results are excluded because they are not relevant to our ongoing operations and do not qualify for Discontinued Operations under Generally Accepted Accounting Principles ("GAAP"). Significant non-recurring items are excluded because, by their nature, they are not indicative of Kemper’s business or economic trends. The preceding non-GAAP financial measures should not be considered a substitute for the comparable GAAP financial measures, as they do not fully recognize the profitability of Kemper’s businesses.
Caution Regarding Forward-Looking Statements
This press release may contain or incorporate by reference information that includes or is based on forward-looking statements within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Such statements involve known and unknown risks, uncertainties, and other factors, including but not limited to:
- changes in the frequency and severity of insurance claims;
- claim development and the process of estimating claim reserves;
- the impacts of inflation;
- changes in the interest rate environment;
- supply chain disruption;
- product demand and pricing;
- effects of governmental and regulatory actions;
- litigation outcomes and trends;
- investment risks;
- cybersecurity risks or incidents;
- impact of catastrophes; and
- other risks and uncertainties detailed in Kemper’s Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission (“SEC”).
Kemper assumes no obligation to publicly correct or update any forward-looking statements as a result of events or developments subsequent to the date of this press release.
About Kemper
The Kemper family of companies is one of the nation's leading specialized insurers. With approximately
View source version on businesswire.com: https://www.businesswire.com/news/home/20240724331341/en/
Investors: Michael Marinaccio, 312.661.4930, investors@kemper.com
News Media: Barbara Ciesemier, 312.661.4521, bciesemier@kemper.com
Source: Kemper Corporation
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