Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number 001-31792 CNO Financial Group, Inc. Delaware 75-3108137 State of Incorporation IRS Employer Identification No. | --- ...

Shares of CNO Financial Group, Inc. (CNO) gained 15.4% since it reported better-than-expected third-quarter 2024 results on Oct. 31. The quarterly results were driven by increased premiums in annuity, life and health products, as well as a notable rise in net investment income. A hiked operating earnings per share (EPS) guidance may also have intrigued investors. However, the upside was partly offset by an elevated benefits and expense level. CNO reported third-quarter adjusted EPS of $1.11, which outpaced ...

Financial Data and Key Metrics Changes - Operating earnings per diluted share were $1.11, up 26% from the previous year, and $0.94, up 27% excluding significant items [6] - Book value per diluted share excluding AOCI was $35.84, up 6% [9] - The expense ratio was 18.8% for the quarter and 19.2% on a trailing 12-month basis [27] - Operating return on equity was 11.7% as reported and 10.5% excluding significant items [28] Business Line Data and Key Metrics Changes - Total new annualized premium (NAP) was up 1% across the enterprise, with a 7% increase excluding direct-to-consumer [7] - Consumer Division's NAP from field sales was up 9%, and Health NAP was up 11% [12] - Long-Term Care NAP was up 31%, marking the fifth consecutive quarter of double-digit growth [15] - Annuity collected premiums were up 25%, with account values up 6% [18] - Worksite Division's NAP was up 4%, representing the 10th consecutive quarter of growth [21] Market Data and Key Metrics Changes - Client assets in brokerage and advisory were up 35% to a record $3.9 billion [19] - The market value of invested assets grew 21% in the quarter [38] - Approximately 97% of the fixed maturity portfolio was investment-grade rated [39] Company Strategy and Development Direction - The company aims to optimize the balance between production, profitability, and capital management [9] - Focus on expanding the Medicare portfolio and enhancing distribution capabilities [13][14] - Continued emphasis on improving return on equity through various operational efficiencies [30][79] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business's performance and the favorable economic environment for middle-income consumers [45][70] - The company anticipates strong sales growth translating into earnings growth, establishing a solid foundation for future results [45] - Management remains bullish on market opportunities driven by demographic trends and the lack of public solutions for retirement income [70] Other Important Information - The company returned $107 million to shareholders during the quarter [9] - The new money rate exceeded 6% for the seventh consecutive quarter [8] - The company raised and narrowed guidance for operating earnings per share to between $3.50 and $3.60 for the full year [42] Q&A Session Summary Question: Can you talk about the long-term care announcement regarding the reinsurance arrangement? - Management expressed a strong belief in the long-term care business and the decision to retain 100% of new business is a reflection of confidence in its performance [48][49] Question: How will the organizational changes impact the direct expense ratio? - Management indicated that the recent actions taken will improve run rate expenses and contribute to return on equity improvements [52] Question: What is the outlook for free cash flow sustainability? - Management emphasized that the business generates healthy levels of free cash flow, although future capital investments may affect this [56] Question: How sensitive is the company to short-term rate changes? - Management noted that floating rate assets are largely matched against floating rate liabilities, minimizing the impact of short-term rate changes [60] Question: What is the company's strategy for cutting fixed expenses? - Management highlighted a continuous focus on efficiency to free up resources for business growth [63] Question: What are the market opportunities for sales in the near term? - Management remains bullish on market opportunities driven by demographic trends and the lack of public solutions for retirement income [70]

| --- | --- | |---------------------------------------------------------------------------------------------------------------|-------| | | | | | | | | | | Third Quarter 2024 Financial and operating results for the period ended September 30, 2024 | | | | | | October 31, 2024 | | | Unless otherwise specified, comparisons in this presentation are between 3Q23 and 3Q24. | | 1 IMPORTANT LEGAL INFORMATION 2 Forward-Looking Statements Certain statements made in this presentation should be considered forward-looki ...

For the quarter ended September 2024, CNO Financial (CNO) reported revenue of $1.13 billion, up 19.1% over the same period last year. EPS came in at $1.11, compared to $0.88 in the year-ago quarter.The reported revenue represents a surprise of +21.69% over the Zacks Consensus Estimate of $927.27 million. With the consensus EPS estimate being $0.84, the EPS surprise was +32.14%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determi ...

CNO Financial (CNO) came out with quarterly earnings of $1.11 per share, beating the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.88 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 32.14%. A quarter ago, it was expected that this insurance holding company would post earnings of $0.72 per share when it actually produced earnings of $1.05, delivering a surprise of 45.83%.Over the last four quarter ...

Quarterly Financial Supplement - 3Q2024 October 31, 2024 Page 1 | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------|-------| | Table of Contents | Page | | Consolidated balance sheet | 3 | | Consolidated statement of operations | 4 | | Financial summary | 5 | | Insurance operations | 6 | | Margin from insurance products | 7-9 | | Collected premiums and insurance policy income | 10 | | Health and life new annualized prem ...

Strong third quarter production; Record annuity collected premiumsCARMEL, Ind., Oct. 31, 2024 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) today reported net income of $9.3 million, or $0.09 per diluted share, in 3Q24 compared to $167.3 million, or $1.46 per diluted share, in 3Q23. Non-economic accounting impacts due to market volatility affected both periods which reduced net income in 2024 and increased it in 2023. Net operating income,(1) which excludes these non-economic accounting impacts, was ...

Quarterly revenue of US$1,522K representing 122% YOY increase and a record for manufacturing Record quarterly gross profit and Adjusted EBITDA1 while executing growth investments New facility to contribute in Q3/FY2025, debt reduction continuing, recent key sales hire Los Angeles, California--(Newsfile Corp. - October 16, 2024) - California Nanotechnologies Corp. (TSXV: CNO) (OTC Pink: CANOF) ("Cal Nano" or the "Company") is pleased to announce quarterly revenues of US$1,522,185 for the fiscal quarter endin ...

CARMEL, Ind., Oct. 14, 2024 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) will report results for the third quarter of 2024 after the market closes on Thursday, October 31, 2024. The company will host a conference call to discuss results at 11:00 a.m. Eastern Time on Friday, November 1, 2024. Participate by Dial-In To participate, please register here. Upon registering, you will be provided with call details and a registrant ID that is used to track attendance on the conference call. Reminders will ...