{"id":810239,"date":"2025-02-06T17:16:00","date_gmt":"2025-02-06T22:16:00","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cno-financial-group-reports-fourth-quarter-and-full-year-2024-results\/"},"modified":"2025-02-06T17:16:00","modified_gmt":"2025-02-06T22:16:00","slug":"cno-financial-group-reports-fourth-quarter-and-full-year-2024-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cno-financial-group-reports-fourth-quarter-and-full-year-2024-results\/","title":{"rendered":"CNO Financial Group Reports Fourth Quarter and Full Year 2024 Results"},"content":{"rendered":"
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\n Exceptional fourth quarter, full-year earnings and sales; <\/i>
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\n Entering 2025 well-positioned for sustainable growth and ROE expansion<\/i>
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\n CARMEL, Ind.<\/span>
\n <\/span>, Feb. 6<\/span>, 2025\u00a0<\/span> \/PRNewswire\/ — CNO Financial Group, Inc. (NYSE: CNO) today announced its financial results for the fourth quarter and full year ended December 31<\/span>, 2024.\u00a0 Net income in 4Q24 was $166.1 million<\/span>, or $1.58<\/span> per diluted share, compared to $36.3 million<\/span>, or $0.32<\/span> per diluted share, in 4Q23. Net income for the year ended December 31, 2024<\/span> was $404.0 million<\/span>, or $3.74<\/span> per diluted share, compared to $276.5 million<\/span>, or $2.40<\/span> per diluted share, in 2023. Non-economic accounting impacts due to market volatility increased net income in 4Q24 and full year 2024, and decreased net income in 4Q23 and full year 2023.<\/p>\n

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Net operating income (1)<\/sup>, which excludes these non-economic accounting impacts, was $138.0 million<\/span>, or $1.31<\/span> per diluted share, in 4Q24 compared to $133.9 million<\/span>, or $1.18<\/span> per diluted share, in 4Q23.\u00a0 Net operating income (1)<\/sup> for the year ended December 31, 2024<\/span> was\u00a0$429.3 million, or $3.97<\/span> per diluted share, compared to $356.1 million<\/span>, or $3.09<\/span> per diluted share, in 2023.<\/p>\n

In 4Q24, both net income and net operating income (1)<\/sup> were unfavorably impacted by significant items of $3.1 million<\/span>, or $0.03<\/span> per diluted share, compared to a favorable impact in 4Q23 of $26.4 million<\/span>, or $0.23<\/span> per diluted share.\u00a0 For the year, both net income and net operating income (1)<\/sup> were favorably impacted by significant items of $18.8 million<\/span>, or $0.17<\/span> per diluted share, in 2024 and $43.3 million<\/span>, or $0.37<\/span> per diluted share, in 2023.<\/p>\n

“CNO delivered an exceptional quarter and full-year financial performance, demonstrating our ability to grow the franchise while also growing earnings and improving profitability,” said Gary C. Bhojwani<\/span>, chief executive officer. “Building on 10 consecutive quarters of sales growth and strong agent force metrics, 2024 represented one of CNO’s best operating performances of the past several years, highlighted by production records across both divisions.”<\/p>\n

“Operating earnings per share excluding significant items were up 41% for the quarter and 40% for the year, as sustained sales growth continued to translate into earnings growth. Significant improvement in operating earnings per share and operating return on equity reflect ongoing strength in our underwriting margins and net investment income coupled with expense and capital discipline. Our capital position and free cash flow generation remained robust, while returning $349 million<\/span> to shareholders, a 50% increase from 2023.”<\/p>\n

“As we enter 2025, CNO continues to be well-positioned to continue profitable growth, capitalize on the favorable macro and demographic environment, and drive long-term ROE expansion.”<\/p>\n

\n Full Year 2024 Highlights <\/b>(as compared to the corresponding period in the prior year where applicable)<\/p>\n