CNO Financial Group, Inc. (CNO) Earnings
CNO Financial Group, Inc. is expected to report next earnings on July 27, 2026 (in NaN days), with a consensus EPS estimate of $0.99. CNO has beaten EPS estimates in 9 of its last 12 reported quarters (average surprise +30.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 1, 2026 | $0.91 | $1.29 | +41.8% | $1.0B | +2.6% |
| Feb 5, 2026 | $1.20 | $1.47 | +22.5% | $1.1B | +16.3% |
| Feb 6, 2025 | $1.06 | $1.31 | +23.6% | $1.1B | +13.1% |
| Oct 31, 2024 | $0.84 | $1.11 | +32.1% | $1.1B | +18.0% |
| May 1, 2023 | $0.65 | $0.51 | -21.5% | $1.0B | +8.6% |
| Feb 7, 2023 | $0.56 | $0.56 | +0.0% | $974M | +7.0% |
| Oct 31, 2022 | $0.48 | $0.49 | +2.1% | $905M | +1.3% |
| Aug 1, 2022 | $0.48 | $0.85 | +77.1% | $855M | -5.6% |
| May 2, 2022 | $0.57 | $0.42 | -26.3% | $843M | -8.6% |
| Feb 8, 2022 | $0.61 | $0.87 | +42.6% | $1.1B | +18.6% |
| Jul 28, 2021 | $0.56 | $0.66 | +17.9% | $1.1B | +11.7% |
| Apr 28, 2021 | $0.49 | $0.55 | +12.2% | $1.0B | +13.3% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 1, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- CNO off to strong start in 2026, building on 2025 performance. First quarter operating earnings per diluted share up 33% to $1.05 and up 42% excluding significant items. 15th consecutive quarter of sales growth and 13th consecutive quarter of producing agent count growth. - Focused on growing earnings, improving profitability, and reinvesting in the business. Sales results strong across both divisions with total new annualized premiums up 11%. - Consumer business delivered strong start to year, 14th consecutive quarter of sustained sales growth, life and health NAP up 9%, total health NAP up 20%, supplemental health up 10%, Medicare policies sold up 24%, LifeNAP up 1%, annuity collected premiums down 2% but account values up 7%, brokerage and advisory growth. - Worksite business started year strong, life and health NAP up 22%, life insurance, hospital indemnity, and accident insurance had strong growth, NAP from new clients increased 65%, producing agent count and agent recruiting up. - Investments in technology, data, and artificial intelligence underway, e.g., Colonial Penn Call Center using AI to help answer and route customer calls.
Guidance
- Affirming original guidance for 2026 at this time, will refine projections later in the year. - Recent ROE results make it likely to increase 2027 ROE ambitions, but won't update 2027 ROE target less than halfway through the three - year cycle.
Segment performance
Consumer Division: Life and health NAP up 9% for the quarter, total health NAP up 20% (15 consecutive quarters of growth), supplemental health up 10%, Medicare policies sold up 24% (Medicare supplement NAF up 53%), LifeNAP up 1% (more than half live production from direct sales, non - television lead sources generated nearly 65% of DSC life sales for the quarter), annuity collected premiums $434 million down 2% (account values up 7%), brokerage and advisory growth: 12th consecutive quarter, client assets up 27% to new record, total accounts up 13%, clients entrust over $18 billion of assets (up 12%), producing agent count up 3% (13th consecutive quarter of growth), registered agent count grew 7%. Worksite Division: Life and health NAP up 22% (16th consecutive quarter of sales growth, 20% four - year compound annual growth rate), life insurance up 56%, hospital indemnity insurance up 121%, accident insurance up 18%, NAP from new clients increased 65% (largely driven by geographic expansion and penetration into existing markets), producing agent count up for 15th quarter, agent recruiting up 8%.
Analyst Q&A
Q: Flesh out MedSupp business pricing plans and timing of premium kick - in.
A: Started seeing increased MedSupp claims last year. Filed rate increases in two buckets: closed block with January 1, 2026 effective date asking for 10.5% increase, received approvals for 10.2%; closed block with July 1, 2026 effective dates filed for 16.8%, expecting approvals for around 14.5%. Rate increases earn in over time, full quarterly impact evident by fourth quarter of 2026.
Q: Color on consumer segment product levels, health strong but life, DTC, annuities less so.
A: No particular anomalies in first quarter, all forces for growth still there, demand for products expected to continue robust, 1% or 2% fluctuations are quarter - to - quarter and irrelevant.
Q: On expenses, normalization during rest of year.
A: Always some variability across quarters, first quarter expense ratio 18.9% due to lower - than - planned spending, expect expenses for full year to come in around original plan, growth in business will drive favorability in denominator of expense ratio.
Q: Perspective on credit markets and new money deployment.
A: Asset allocation model predicated on being capital efficient and storing dry powder, credit market pretty well behaved in first quarter with IG and high yield spreads relatively flat, worked shorter on curve due to ALM need, not lunge at market, will wait for better entry points.
Q: Biggest drivers of recent ROE outperformance sustainable.
A: Combination of growth, expenses, and other actions across value chain, focusing on entire business to improve effectiveness, efficiency, growth, and risk - adjusted returns in investment portfolio.
Q: Long - term care experience and expectations.
A: Long - term care continues to perform exceptionally well, claims experience reasonably stable and favorable, will revise assumptions in third quarter.
Q: ROE target and normalization.
A: Operating earnings continue to drive growth, denominator (shareholders equity) impacted by non - operating income which is volatile but evens out over long periods, aim to continue improving ROE beyond 12%.
Q: RBC ratio and impact of lower equity markets.
A: S&P down 5% in quarter impacted RBC ratio, but as equity markets recover, impact unwinds, assume neutral impact in year and over time.
Q: FAA band market and mortality expectations.
A: Financials widened out relative to industrials in first quarter, moderating since quarter end, will reassess in June; mortality in trad life business within normal range of expectations, will monitor and revisit assumptions in third quarter.