StanCorp Financial Group Inc. (SFG) Tuesday said first-quarter earnings increased to $46.8 million or $1.05 per share from $35.2 million or $0.79 per share in the same period last year.
Adjusted earnings for the quarter was $1.07 per share. On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.80 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $722.5 million, down from $741.4 million last year. Analysts expected revenues of $725.63 million.
Total premiums decreased to $536.2 million from $553.3 million last year. Net-investment income totaled $159.2 million, compared to $159.7 million last year.
Benefits and expenses for the quarter amounted to $662.2 million, compared to $693.7 million last year.
Looking ahead, the company expects to report full-year earnings in the range of $3.70 to $4.10 per share. Analysts currently expect full-year earnings of $3.61 per share.
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