Primerica (PRI) FY2023 results: revenue $2.7 billion, up 3.4% on the year
Primerica, Inc. (PRI) reported revenue of $2.7 billion for fiscal 2023, the year ended 31 December 2023, up 3.4% on the year before. Net income was $577 million, up 22.1%, and diluted earnings per share $15.94. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.
Revenue
$2.7 billion
+3.4% on the year
FY2016FY2023
Operating margin
28.1%
27.0% a year earlier
FY2016FY2023
Net income
$577 million
+22.1% on the year
FY2016FY2023
Diluted EPS
$15.94
+29.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
693
758
657
-8.6%
Cash from investing
-90.1
-200
-923
Cash from financing
-480
-458
108
Depreciation and amortisation
32.0
34.2
29.8
-6.5%
Share-based compensation
18.9
22.4
16.8
-15.4%
Buybacks
375
356
18.8
+5.3%
Dividends paid
93.7
83.8
74.6
+11.9%
Dividend per share
$2.60
$2.20
$1.88
+18.2%
Diluted shares, weighted
36m
38m
40m
-5.5%
Shares outstanding at period end
35m
37m
39m
-5.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,066
2,031
925
+1.7%
Redeemable equity
n/a
n/a
7.3
Debt
594
593
15.0
+0.1%
Other liabilities
12,368
12,017
15,248
+2.9%
Total liabilities and equity
15,028
14,641
16,196
+2.6%
Fixed assets
37.6
52.7
67.0
-28.6%
Goodwill
128
128
179
0.0%
Intangible assets
45.3
186
196
-75.6%
Securities held for sale or to maturity
4,106
3,940
4,082
+4.2%
Cash and equivalents
594
489
393
+21.4%
Other assets
10,117
9,846
11,280
+2.7%
Total assets
15,028
14,641
16,196
+2.6%
10-K for the year ended 31 December 2023, filed 28 February 2024: the filing.