Unum Group Q4 EPS Misses by 9% as Premiums Rise 2% to $2.7 B
Unum Group reported fourth-quarter operating net income of $1.92 per share, missing estimates by 9% and declining 5.4% year over year. Total revenues were $3.2 billion, flat annually, while premiums rose 2% to $2.7 billion and book value per share climbed 9.3% to $67.11.
1. Fourth-Quarter Financial Results
Unum Group posted Q4 operating net income of $1.92 per share, down 5.4% from a year ago and 9% below consensus. Total operating revenues reached $3.2 billion, essentially flat year over year, while premiums increased 2% to $2.7 billion. The company experienced an 8% rise in benefits and expenses driven by higher policy benefits, commissions and other costs.
2. Segment Performance
In the U.S. segment, premium income grew 1.6% to $1.7 billion but adjusted operating income fell 13.1% to $289.7 million. International premiums jumped 17.1% to $283.9 million, although adjusted income declined 11.7%. Colonial Life saw a 3.2% premium increase to $463.2 million with income down 7.2%, and the Closed Block segment’s income slid 23.8% as premiums fell 10.1%.
3. Capital and Book Value
As of Dec. 31, 2025, Unum’s risk-based capital ratio stood at approximately 440%, with $2.3 billion in holding company liquidity. Book value per share rose 9.3% year over year to $67.11, and the company repurchased $1 billion of its shares in the quarter.
4. 2026 Outlook
Unum projects premium growth of 4%–7% and adjusted operating income per share of $8.60–$8.90, implying 8%–12% growth versus the prior year.