Kansas City Life Insurance Q2 swings to profit on lower operating expenses - KCLI News | RalliesKansas City Life Insurance Q2 swings to profit on lower operating expenses
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KCLI• Outlook
- Company did not provide specific guidance or outlook for future quarters or the full year
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 Revenue | | $125.88 mln | |
| Q2 Net Income | | $7.77 mln | |
| Q2 Basic EPS | | $0.80 | |
Result drivers
- Lower operating expenses - Co said Q2 operating expenses fell sharply from prior year, which included a large legal settlement accrual
- Higher investment revenues - Co said Q2 net income benefited from an 8% increase in investment revenues
- Higher policyholder benefits - Co said Q2 results were partially offset by a 4% increase in policyholder benefits
Quarterly results
- US life insurer's Q2 net income returns to profit from prior-year loss
- Q2 revenue rose 3% yr/yr to $125.9 mln
- Earnings improvement driven by lower operating expenses and higher investment revenues
KCLI
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