HORACE MANN EDUCATORS CORP /DE/ (HMN) Form 10-Q — Nov 6, 2026
Horace Mann Educators reported Q3 2026 net income of $58.5 million, essentially flat versus $58.3 million a year ago, while nine-month net income rose 12.2% to $141.3 million with diluted EPS of $3.43, up 13.2%. The Property & Casualty segment was the standout with a Q3 combined ratio of 83.6% and net income up 22.3%, helped by favorable prior-year reserve development of $8.0 million. Net investment income rose 16.8% to $139.7 million in the quarter on strong fixed income returns and limited partnership performance, but net investment losses of $26.2 million, driven by the sale of a limited partnership fund, offset much of the gain.
Key figures
- Eps
- Q3 diluted $1.41 (vs $1.40); nine-month diluted $3.43 (vs $3.03, +13.2%)
- Revenue
- Total revenues $439.2M for Q3 2026; $1,312.0M for nine months 2026
- Guidance
- 2026 full year core income of $5.75 to $5.95 per diluted share, core return on equity over 12%+; net investment income $485-495M pre-tax
- Net Income
- Q3 $58.5M; nine months $141.3M (+12.2% YoY)
- Total Debt
- $594.6M long-term debt
- Revenue Yoy
- +0.2% for Q3; +3.6% for nine months
- Total Assets
- $15,400.5M
- Cash Position
- $148.8M cash at September 30, 2026
- Shares Outstanding
- 40518742
- Book value per share
- 35.11
- Pqc combined ratio q3
- 83.6%
- Net investment income q3
- $139.7M (+16.8% YoY)
- Rnic pending acquisition
- Reserve National Insurance Company purchase ~$125M expected to close Q1 2027 plus $7.4M ceding commission
- Esl acquisition completed
- $117.2M all-cash acquisition of Employee Services LLC completed October 1, 2026
- Share repurchases nine months
- $19.2M treasury stock acquired
- Unrealized losses fixed maturity
- $629.1M pretax, up 101.6% from year-end 2025
AI analysis
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