CNO Financial Group (CNO) Company Report

CNO Financial Group reported Operating EPS of $1.29, a 16% increase, and Operating EPS excluding significant items of $0.96, up 4% for Q3 2025. The company also recorded a $96.7 million non-cash goodwill and intangibles impairment during the quarter.
The company demonstrated strong operational growth with total new annualized premiums (NAP) up 26%, direct-to-consumer (D2C) NAP up 56%, and Worksite Division NAP up 20%. Client assets in brokerage and advisory also increased by 28%.
CNO returned $76 million to shareholders in Q3 2025, including $60 million in share repurchases, contributing to an 8% reduction in weighted average diluted shares outstanding. The consolidated Risk-Based Capital (RBC) ratio stood at 380% and holding company liquidity at $194 million, both above target levels.
Management raised its guidance for 2027 operating Return on Equity (ROE) improvement and 2025 excess cash flow to the holding company, with 2025 operating EPS guidance set between $3.75 and $3.85.

Nov 4, 2025, 4:00 PM

CNO Financial Group Reports Strong Q3 2025 Earnings, Exits Fee Services Business, and Raises ROE and Cash Flow Targets

CNO

Earnings

Guidance Update

New Projects/Investments

CNO Financial Group reported Q3 2025 operating earnings per diluted share of $1.29, a 16% increase, and record total new annualized premiums of $125 million, up 26%.
The company announced its decision to exit the worksite fee services business by the first half of 2026, which represented less than 1% of total revenue and contributed an approximate $20 million pre-tax annual loss. This decision resulted in a $96.7 million impairment in Q3 2025 and is expected to incur $15-$20 million in exit charges in Q4 2025.
CNO revised its 2027 operating return on equity (ROE) target to an improvement of 200 basis points (from 150 basis points) compared to a 10% run rate in 2024, and raised its excess cash flow to the holding company guidance to $365-$385 million (from $200-$250 million). These updates are attributed to the fee services exit and a new Bermuda reinsurance treaty.
The company returned $76 million to shareholders in Q3 2025 and $310 million year-to-date, while book value per diluted share (excluding AOCI) increased 6% to $38.10.

Nov 4, 2025, 4:00 PM

CNO Financial Group Reports Strong Q3 2025 Results and Strategic Updates

CNO

Earnings

Guidance Update

Share Buyback

CNO Financial Group reported net income of $23.1 million, or $0.24 per diluted share, and net operating income of $127.2 million, or $1.29 per diluted share, for Q3 2025.
The company announced a decision to streamline its Worksite Division operations by exiting the fee services business, which is expected to reduce annual fee revenue by roughly $30 million and increase annual pre-tax income by roughly $20 million.
Key growth metrics for Q3 2025 include total new annualized premiums (NAP) up 26% and client assets in brokerage and advisory up 28%.
CNO returned $76.4 million to shareholders in Q3 2025 and reported a book value per diluted share, excluding accumulated other comprehensive loss, of $38.10, representing a 6% increase.
The company is increasing its run rate operating return on equity (ROE) target by 50 basis points for a total improvement of 200 basis points through 2027.

Nov 3, 2025, 9:21 PM

CNO Financial Group Reports Third Quarter 2025 Results

CNO

Earnings

Share Buyback

New Projects/Investments

CNO Financial Group reported net income of $23.1 million, or $0.24 per diluted share, and net operating income of $127.2 million, or $1.29 per diluted share, for the third quarter of 2025.
The company achieved 26% growth in total new annualized premiums (NAP) and reported an operating return on equity (ROE) of 12.1% for the quarter.
CNO is increasing its 2027 ROE target by 50 basis points and returned $76.4 million to shareholders during Q3 2025.
Strategic initiatives include exiting the fee services side of its Worksite Division, which is expected to increase annual pre-tax income by roughly $20 million, and executing a second reinsurance transaction for $1.8 billion of inforce supplemental health statutory reserves.
Book value per share was $27.24 at September 30, 2025, with book value per diluted share, excluding accumulated other comprehensive loss, at $38.10, up 6%.

Nov 3, 2025, 9:15 PM

Earnings Transcripts

Quarterly earnings call transcripts for CNO Financial Group.

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