Q4 Revenue Hits $1.01B, Adjusted EPS Jumps 21.9% on Medicare Supplement Surge
CNO Financial Group’s Q4 2025 revenue rose 2.4% year-on-year to $1.01 billion, beating expectations by $11.6 million, while adjusted EPS of $1.47 topped estimates by 21.9%. Record new annualized premium, a 49% surge in Medicare Supplement sales and sustained agent productivity underpinned robust growth.
1. Q4 Financial Results
CNO Financial Group delivered Q4 revenue of $1.01 billion, up 2.4% year-on-year and $11.6 million above consensus. Adjusted operating income stood at $173.5 million (17.1% margin), while non-GAAP EPS of $1.47 exceeded estimates by 21.9%, driving a 5.3% stock gain on earnings day.
2. Growth Drivers
The quarter’s growth was fueled by a record new annualized premium across Consumer and Worksite divisions and a 49% year-over-year increase in Medicare Supplement sales. Producing agent count rose for the 12th consecutive quarter, with focus on productivity gains through the captive agent distribution model and expanded digital channels.
3. Outlook and Guidance
Management plans $75 million in technology modernization to enhance agent efficiency and expects continued Medicare Supplement momentum given demographic tailwinds. It cautions that macroeconomic uncertainty and shifting consumer spending may pressure discretionary lines, while maintaining disciplined capital deployment and a strong balance sheet.