Horace Mann Educators (HMN) FY2024 results: revenue $1.6 billion, up 6.9% on the year

Horace Mann Educators Corp. (HMN) reported revenue of $1.6 billion for fiscal 2024, the year ended 31 December 2024, up 6.9% on the year before. Net income was $103 million, up 128.4%, and diluted earnings per share $2.48. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2025.

Revenue

$1.6 billion

+6.9% on the year

FY2017FY2024

Operating margin

8.1%

3.6% a year earlier

FY2017FY2024

Net income

$103 million

+128.4% on the year

FY2017FY2024

Diluted EPS

$2.48

+127.5% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,595	1,492	1,383	+6.9%
Operating income	129	53.3	17.8	+141.3%
Operating margin	8.1%	3.6%	1.3%
Interest expense	34.6	29.7	19.4	+16.5%
Pre-tax income	129	53.3	16.5	+141.3%
Income tax	25.8	8.3	-3.3	+210.8%
Effective tax rate	20.1%	15.6%	-20.0%
Net income	103	45.0	19.8	+128.4%
Net margin	6.4%	3.0%	1.4%
Diluted EPS	$2.48	$1.09	$0.47	+127.5%

$ million except per share.

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

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	452	302	172	+49.7%
Cash from investing	-136	-107	-215
Cash from financing	-308	-208	-47.8
Depreciation and amortisation	26.4	26.2	27.6	+0.8%
Share-based compensation	9.9	9.5	8.9	+4.2%
Dividends paid	55.5	53.9	52.6	+3.0%
Dividend per share	$1.36	$1.32	$1.28	+3.0%
Diluted shares, weighted	42m	41m	42m	+0.2%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,288	1,175	1,098	+9.5%
Debt	547	546	498	+0.2%
Other liabilities	12,653	12,329	11,710	+2.6%
Total liabilities and equity	14,488	14,050	13,306	+3.1%
Fixed assets	73.4	68.6	69.3	+7.0%
Goodwill	54.3	54.3	54.3	0.0%
Intangible assets	156	170	185	-8.5%
Securities held for sale or to maturity	n/a	n/a	5,185
Cash and equivalents	38.1	29.7	42.8	+28.3%
Other assets	14,166	13,727	7,770	+3.2%
Total assets	14,488	14,050	13,306	+3.1%

10-K for the year ended 31 December 2024, filed 28 February 2025: the filing.