Kansas City Life Announces First Quarter 2024 Results
Kansas City Life Announces First Quarter 2024 Results
PR Newswire
KANSAS CITY, Mo., April 26, 2024
KANSAS CITY, Mo., April 26, 2024 /PRNewswire/ -- Kansas City Life Insurance Company recorded net income of $1.6 million or $0.16 per share in the first quarter of 2024 compared to a net loss of $3.2 million or $0.33 per share in the first quarter of 2023.
The largest factor in the improvement in 2024 over 2023 was a $9.4 million decrease in policyholder benefits, net of reinsurance. In addition, investment revenues increased $2.8 million and contract charges increased $0.9 million compared to one year earlier. Partially offsetting these improvements, premiums, net of reinsurance, decreased $2.3 million, interest credited to policyholder account balances increased $2.1 million, and operating expenses increased $2.6 million versus the prior year.
Kansas City Life Insurance Company (OTCQX: KCLI) was established in 1895 and is based in Kansas City, Missouri. The Company's primary business is providing financial protection through the sale of life insurance and annuities. The Company operates in 49 states and the District of Columbia. For more information, please visit www.kclife.com.
Kansas City Life Insurance Company Condensed Consolidated Income Statement (amounts in thousands, except share data) | |||||
Quarter Ended | |||||
March 31 | |||||
2024 | 2023 | ||||
Revenues | $ | 127,308 | $ | 125,969 | |
Net income (loss) | $ | 1,554 | $ | (3,241) | |
Net income (loss) per share, basic and diluted | $ | 0.16 | $ | (0.33) | |
Dividends paid | $ | 0.14 | $ | 0.14 | |
Average number of shares outstanding | 9,683,414 | 9,683,414 | |||
View original content:https://www.prnewswire.com/news-releases/kansas-city-life-announces-first-quarter-2024-results-302128878.html
SOURCE Kansas City Life Insurance Company
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening In the Markets This Week
-
Can the Fed Declare Victory on Inflation?
-
The Best REITs to Buy
-
3 Hot Stocks to Buy That Still Look Undervalued
-
After Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
Today’s Market Volatility Could Provide Tomorrow’s Opportunities
-
40 of the Best Investment Picks
-
Tech Stock Dividends Are Changing the Face of Dividend Growth Investing
-
Roblox Earnings: Weakening Engagement Has Weighed On Growth
-
The Best Gaming Stocks to Buy