Primerica, Inc. (PRI) Earnings
Primerica, Inc. is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $5.95. PRI has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +7.8% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $5.45 | $5.96 | +9.4% | $873M | +2.0% |
| Feb 11, 2026 | $5.69 | $6.13 | +7.7% | $838M | -1.0% |
| Nov 5, 2025 | $5.52 | $6.33 | +14.7% | $840M | +0.0% |
| Feb 13, 2024 | $4.27 | $4.25 | -0.5% | $722M | -0.2% |
| Feb 23, 2023 | $2.93 | $3.49 | +19.1% | $687M | -1.3% |
| May 5, 2022 | $2.73 | $2.11 | -22.7% | $691M | -5.2% |
| Feb 14, 2022 | $3.18 | $2.94 | -7.5% | $724M | +19.4% |
| Aug 5, 2021 | $2.92 | $3.25 | +11.3% | $655M | +6.6% |
| May 5, 2021 | $2.38 | $2.44 | +2.5% | $638M | +4.7% |
| Feb 9, 2021 | $2.49 | $2.45 | -1.6% | $598M | +2.9% |
| Nov 4, 2020 | $2.35 | $2.78 | +18.3% | $568M | +18.3% |
| Aug 5, 2020 | $2.08 | $2.44 | +17.3% | $526M | +23.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
· Primerica's business models show balance and resilience. Investments and savings products key drivers; term life segment stable. · Delivered 9% increase in adjusted operating revenues and 13% in adjusted net operating income. · Generated solid cash flows, returned $179 million to stockholders. · Entrepreneurial business opportunity resonates; adjusted field event schedule for higher attendance. · Demand for investment in savings products at record levels; term life business softer; household budget index shows income growth outpacing cost increases. · Mortgage business strong in US and Canada.
Guidance
· Full-year 2026 term life policies issued expected flat to down approx 2%. · Full-year sales growth for ISP expected in upper single-digit range. · 2026 full-year expense growth expected in 7%-8% range; Q2 outlook up around 10%-12%. · Adjusted direct premiums for term life expected to grow approx 4% on four-year basis; benefits and claims ratio around 58%, DAC amortization and insurance commissions ratio around 12-13%, operating margin around 21%.
Segment performance
Adjusted operating revenues increased 9% and adjusted net operating income increased 13% in Q1 compared to prior year. Income growth driven by 24% increase in earnings from ISP segment. Term life segment: operating revenues up 1% y-o-y, driven by 4% growth in adjusted direct premiums; pre-tax operating income up 6%. ISP segment: operating revenues up 21%, pre-tax operating income up 24%, now represents 40% of consolidated revenues. Corporate and other distributed product segments: pre-tax adjusted operating loss of $6.7 million, better than prior year's $8 million loss.
Risks & headwinds
· Broader market volatility could impact demand for investment products. · Higher interest rates may create headwinds for mortgage business. · Cumulative cost of living pressures on middle-income families could continue to impact term life sales. · Uncertainty in economic environment may disrupt recruiting and licensing efforts.
Analyst Q&A
Q: Given gas prices rise, seen change in consumer behavior or producer's willingness to travel?
A: Not seen noticeable change, household budget index shows earning power outstripping slowed cost of living increases, though gas price jump could disrupt.
Q: Percentage of ISP earnings from AUM vs fees?
A: Currently closer to 60-40, shifting toward AUM-based fees as assets grow.
Q: Term life guidance, confidence in stabilization?
A: Comps get easier, middle-income financial conditions stabilizing, using promotions and product improvements to create momentum.
Q: Term life productivity metric, focus and strategy?
A: Focus on it, efforts in place to improve sales force productivity, growth of sales force and productivity can happen simultaneously.
Q: ISP sales guidance, assumptions?
A: More due to tough comparisons as year goes on and potential market volatility risk.
Q: Annuity sales growth vs industry?
A: Outpace industry due to growing and maturing client base, good products appropriately priced.
Q: RBC ratio, sequential movement?
A: Managing RBC to ideal ratios, keeping strong capital for term life growth and market downturn sustainability.
Q: ISP net revenue fee rate increase, drivers?
A: Mix of products like managed accounts, variable annuities, and PD model from Canada driving growth.