Globe Life Inc. (GL) Earnings
Globe Life Inc. is expected to report next earnings on July 22, 2026 (in NaN days), with a consensus EPS estimate of $3.66. GL has beaten EPS estimates in 7 of its last 12 reported quarters (average surprise +0.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $3.46 | $3.43 | -0.9% | $1.6B | -0.3% |
| Feb 4, 2026 | $3.44 | $3.39 | -1.5% | $1.5B | -0.5% |
| Oct 22, 2025 | $4.60 | $4.81 | +4.6% | $1.5B | -0.4% |
| Jul 23, 2025 | $3.25 | $3.27 | +0.6% | $1.5B | -1.6% |
| Apr 30, 2025 | $3.23 | $3.07 | -5.0% | $1.5B | -0.5% |
| Feb 5, 2025 | $3.12 | $3.14 | +0.6% | $1.5B | -0.7% |
| Oct 23, 2024 | $3.06 | $3.49 | +14.1% | $1.5B | -0.6% |
| Jul 24, 2024 | $2.91 | $2.97 | +2.1% | $1.4B | -0.6% |
| Feb 7, 2024 | $2.73 | $2.80 | +2.6% | $1.4B | +1.2% |
| Oct 25, 2023 | $2.65 | $2.71 | +2.3% | $1.4B | -0.1% |
| Jul 26, 2023 | $2.57 | $2.61 | +1.6% | $1.3B | -3.7% |
| May 3, 2023 | $2.47 | $2.53 | +2.4% | $1.1B | -19.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 23, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Frank mentioned net income was $271 million, or $3.39 per share in Q1, net operating income $274 million, or $3.43 per share, up 12% y - ago. Matt discussed strong first quarter sales results with total life net sales up 6% and total health net sales up 58%. Different distribution channels had varying performance, like American Income Life life premiums up 5%, Liberty National life premiums up 4%, Family Heritage health premiums up 10%, direct - to - consumer life premiums down ~1% but underwriting margin up 15%, United American General Agency health premiums up 22%. Investment operations: Excess investment income $37 million, up ~$1 million y - ago, net investment income $290 million, up 3%, expected net investment income and required interest to grow ~4% full year, expected to invest ~$800 - $900 million in fixed maturities full year.
Guidance
Full year 2026 net operating earnings per diluted share estimated in range of $15.40 - $15.90, 8% growth at midpoint. Life premium revenue expected to grow 3% - 3.5% full year. Health premium revenue expected to grow 14% - 17% full year. Expected investment income growth 4% - 4.5% full year.
Segment performance
Insurance operations: Total premium revenue grew 6% in Q1 over year - ago, expected to grow ~7% full year. Life premium revenue in Q1 increased 3% to $853 million, life underwriting margin was $349 million, up 3% y - ago, 41% of premium in Q1, expected 42% - 45% full year 2026, ~41% in Q2 and Q4, higher in Q3. Health premium revenue grew 13% to $417 million, health underwriting margin up 12% to $95 million, expected 14% - 17% full year, 23% of premium in Q1, expected 23% - 27% full year. Administrative expenses were $94 million in Q1, up ~8% y - ago, 7.4% of premium, expected 7.3% of premium full year.
Risks & headwinds
Lapse rates expected to remain elevated in 2026 due to macroeconomic environment. Threat of new entrants in direct - to - consumer channel with different distribution strategies.
Analyst Q&A
Q: Jack Madden with BMO Capital Markets asked about lapse rate trends.
A: Matt said lapse rates expected to remain elevated in 2026 due to economic stress, considered AIL first quarter lapse rates as fluctuation, mix of business and macroeconomic factors involved.
Q: Wilma Burtis with Raymond James asked about higher buybacks in 2026.
A: Matt said excess cash flows finalized were higher than last call range, opportunity to accelerate share repurchases due to favorable market conditions in Q1.
Q: Wes Carmichael with Wells Fargo asked about life sales, agent count, and premium growth.
A: Matt broke down by distribution channels, Liberty growing as expected, American Income Life compensation structure driving sales but agent count growth behind, direct - to - consumer sales growth tempered but still pleased.
Q: Pablo Sington with JP Morgan asked about anti - selection risk in health business and remeasurement gains.
A: Matt said not a function of anti - selection, seasonality and rate increases driving first quarter health margins, remeasurement gains on life largely from mortality claims, on health from future rate increases.
Q: Randy Binner with Texas Capital asked about qualitative assessment of mortality assumptions and American income agent retention.
A: Matt said mortality trends from lifestyle behavior, non - medical deaths improving, American Income Life agent retention focusing on early days, balance between recruiting and sales in incentive compensation.