Horace Mann Educators (HMN) Q1 2026 earnings summary

Executive summary

• Achieved record first-quarter core earnings of $53 million ($1.28 per share), up 20% year-over-year, with strong performance across all business segments and continued growth momentum.

• Net income for Q1 2026 rose 7.9% year-over-year to $41.2 million, driven by improved Property & Casualty results and lower catastrophe losses.

• Life sales rose 17%, individual supplemental up 11%, and group benefits sales more than tripled year-over-year.

• Book value per share grew 11% to $36.40, with core shareholder ROE for the trailing 12 months reaching 12.7%.

• Multi-line business model and investments in distribution, products, and marketing continue to drive consistent, profitable growth.

Financial highlights

• Core earnings for the quarter were $53 million, or $1.28 per share, up 20% year-over-year; net income increased 7.9% to $41.2 million.

• Total revenues rose 3.1% year-over-year to $429.3 million; premiums, contract charges, and fee revenue increased 6%.

• Property and Casualty (P&C) core earnings were $39 million, up 46% year-over-year; combined ratio improved to 83.3%.

• Tangible book value per share increased 9% year-over-year; book value per share at $36.40, adjusted book value per share at $40.68.

• $18 million in share repurchases and 18th consecutive year of dividend growth.

Outlook and guidance

• Full-year 2026 core EPS guidance maintained at $4.20–$4.50 per share, with core ROE targets of 12–13%.

• Three-year objectives include 10%+ compound annual growth in core EPS and sustained double-digit ROE.

• Property & Casualty segment targets a low-to-mid 90s combined ratio and ~$90 million in catastrophe losses.

• Net investment income expected between $485–$495 million pre-tax.

• No changes to full-year outlook; results tracking in line with expectations.