Globe Life (GL) Q4 2023 earnings summary

Executive summary

• Q4 net income per diluted share rose to $2.88 from $2.46 YoY; net operating income per diluted share was $2.80 vs. $2.55.

• FY 2023 net income was $971 million; net operating income exceeded $1.0 billion for the first time.

Financial highlights

• Q4 total revenue was $1.416 billion vs. $1.335 billion YoY; FY total revenue was $5.448 billion vs. $5.227 billion.

• FY net income was $970.8 million vs. $894.4 million; net operating income was $1,026.6 million vs. $961.0 million.

• Q4 net income increased 13% and net operating income increased 6% YoY; FY net income per diluted share was $10.07 vs. $9.04.

Outlook and guidance

• FY 2024 net operating income guidance: $11.30–$11.80 per diluted common share.