Unum Group reported an increase in profit for its first quarter, surpassing market estimates. The company's earnings escalated to $395.2 million, which equates to $2.04 per share. This shows gains in comparison to the same quarter last year, which saw earnings of $358.3 million, or $1.80 per share.
Upon excluding certain factors, Unum Group announced the adjusted earnings for the period stood at $409.9 million or $2.12 per share. The company's performance exceeded the average analyst expectation of $1.97 per share, based on data collated by Thomson Reuters. It's important to note that these analysts' estimates generally exclude any special items.
Unum Group also experienced a revenue surge for the quarter, witnessing a rise of 5.3%, from last year's $3.04 billion to $3.20 billion this year.
To recap Unum Group's earnings - in accordance to Generally Accepted Accounting Principles (GAAP) - the earnings for the first quarter were $395.2 million, in contrast to last year's $358.3 million. The earnings per share (EPS) for Q1 were $2.04, as opposed to last year's $1.80. The company's revenue for Q1 increased to $3.20 billion from $3.04 billion last year.
