Horace Mann Educators (HMN) Q4 FY2023 earnings: revenue $403 million, up 16.3% on the year

Horace Mann Educators Corp. (HMN) reported revenue of $403 million for Q4 FY2023, the quarter ended 31 December 2023, up 16.3% on the same quarter a year earlier. Net income was $40 million, and diluted earnings per share $0.96. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.

Revenue$403 millionup 16.3%

Net income$40 million

Diluted EPS$0.96

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	403	379	n/a	n/a
Operating income	47.2	13.6	n/a	n/a
Operating margin	11.7%	3.6%	n/a
Interest expense	8.6	7.5	n/a	n/a
Pre-tax income	47.2	13.6	n/a	n/a
Income tax	7.7	1.9	n/a	n/a
Effective tax rate	16.3%	14.0%	n/a
Net income	39.5	11.7	n/a	n/a
Net margin	9.8%	3.1%	n/a
Diluted EPS	$0.96	$0.28	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	103	45.3	n/a	n/a
Cash from investing	-21.8	-41.0	n/a	n/a
Cash from financing	-85.9	7.1	n/a	n/a
Depreciation and amortisation	6.7	6.6	n/a	n/a
Share-based compensation	2.4	2.6	n/a	n/a
Dividends paid	13.5	13.4	n/a	n/a
Dividend per share	n/a	$0.00	n/a	n/a
Diluted shares, weighted	41m	41m	n/a	n/a
Shares outstanding at period end	41m	41m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	1,175	1,051	n/a	n/a
Short-term borrowings	n/a	0.0	n/a	n/a
Debt	546	546	n/a	n/a
Other liabilities	12,329	11,815	n/a	n/a
Total liabilities and equity	14,050	13,412	n/a	n/a
Fixed assets	68.6	n/a	n/a	n/a
Goodwill	54.3	54.3	n/a	n/a
Intangible assets	170	174	n/a	n/a
Cash and equivalents	29.7	34.5	n/a	n/a
Other assets	13,727	13,150	n/a	n/a
Total assets	14,050	13,412	n/a	n/a

Questions

What was Horace Mann Educators' revenue in Q4 FY2023?

Horace Mann Educators (HMN) reported revenue of $403 million for Q4 FY2023, the quarter ended 31 December 2023, up 16.3% on the same quarter a year earlier.

How much did Horace Mann Educators earn in Q4 FY2023?

Net income for Q4 FY2023 was $40 million, and diluted earnings per share $0.96.

When did Horace Mann Educators report Q4 FY2023 results?

Horace Mann Educators filed its 10-K for the year that ended with the quarter on 27 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	379	403	386	388	412	409	416	412	438	435	429	444
Operating income	13.6	47.2	33.0	4.6	42.7	48.3	47.5	36.5	71.5	45.7	50.2	49.0
Operating margin	4%	12%	9%	1%	10%	12%	11%	9%	16%	11%	12%	11%
Interest expense	7.5	8.6	8.7	8.7	8.7	8.5	8.9	8.6	8.9	10.0	9.5	9.6
Pre-tax income	13.6	47.2	33.0	4.6	42.7	48.3	47.5	36.5	71.5	45.7	50.2	49.0
Tax rate	14%	16%	20%	17%	20%	21%	20%	19%	18%	21%	18%	15%
Net income	11.7	39.5	26.5	3.8	34.3	38.2	38.2	29.4	58.3	36.2	41.2	41.6
Net margin	3%	10%	7%	1%	8%	9%	9%	7%	13%	8%	10%	9%
Diluted EPS	$0.28	$0.96	$0.64	$0.09	$0.83	$0.92	$0.92	$0.71	$1.40	$0.87	$1.00	$1.01
Operating cash flow	45.3	103	74.5	40.2	144	194	141	131	151	130	61.3	224
Dividends paid	13.4	13.5	13.9	13.9	13.9	13.8	14.3	14.3	14.3	14.2	14.6	14.5
Shares outstanding	41m	41m	41m	41m	41m	41m	41m	41m	41m	40m	40m	41m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 27 February 2024, accession 0001628280-24-007168: the filing on EDGAR. All of Horace Mann Educators Corp.'s filings: EDGAR company page.

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