Kansas City Life Insurance Q3 net income falls on lower insurance, investment revenues
KCLI•Kansas City Life Insurance reported Q3 net income of $1.74 million, revenue of $121.86 million and EPS of $0.18, as lower insurance and investment revenues drove a year-over-year decline. It raised its quarterly dividend to $0.18 per share from $0.14 last year.
1. Quarterly results
Kansas City Life Insurance said lower insurance and investment revenues contributed to a year-over-year decline in Q3 net income, while lower operating expenses partially offset the declines. Q3 revenue was $121.86 million, net income was $1.74 million and EPS was $0.18.
2. Nine-month results and dividend
Net income for the first nine months rebounded from a loss in the prior-year period, helped by lower operating expenses. The company raised its quarterly dividend to $0.18 per share from $0.14 last year and did not provide specific financial guidance for upcoming quarters or the full year.
