Protective Life Profit Tops Estimate

(RTTNews) - Protective Life Corp (PL) Monday reported third-quarter net earnings of $118.9 million or $1.46 per share, compared with $93.1 million or $1.15 per share last year.

Excluding items, operating earnings for the quarter were $1.33 per share, compared with $0.98 per share a year ago.

Analysts polled by Thomson Reuters estimated earnings of $1.21 per share for the quarter. Analysts' estimates typically exclude special items.

Life Marketing segment pre-tax operating income was $32.8 million in the quarter, an increase of $3.6 million from last year.

Annuities segment pre-tax operating income was $49.3 million in the quarter, compared with $50.9 million in the prior year.

Stable Value Products segment pre-tax operating income was $19.5 million in the quarter, compared with $19.2 million last year.

Asset Protection segment pre-tax operating income was $8.5 million in the quarter, compared with $6.8 million last year.