HMN FY 2023 Earnings Report — Horace Mann Educators Corporation Revenue & Financial Results | Market Cap Arena

Horace Mann Educators CorporationHMN

FY 2023 Earnings

Reported February 27, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.4B	—	$1.3B	—	6.8%
Op. Income	$53M	—	$17M	—	223.0%
Gross Margin	24.9%	—	24.8%	—	0.1pp
Net Margin	3.1%	—	1.5%	—	1.7pp
EPS (Diluted)	$1.09	—	$0.47	—	131.9%
Free Cash Flow	$302M	—	$172M	—	76.2%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$1.1B
GROSS PROFIT	$357M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$304M
Operating Expenses	$304M
Cost & Expenses	$1.4B
OPERATING INCOME	$53M
Interest Income	$0
Interest Expense	$30M
Other Income/Expenses	$0
INCOME BEFORE TAX	$53M
Income Tax Expense	$8M
Net Income from Continuing Ops	$45M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$45M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$45M
D&A	$26M
EBIT	$83M
EBITDA	$109M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$1.1B
GROSS PROFIT	$357M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$304M
Operating Expenses	$304M
Cost & Expenses	$1.4B
OPERATING INCOME	$53M
Interest Income	$0
Interest Expense	$30M
Other Income/Expenses	$0
INCOME BEFORE TAX	$53M
Income Tax Expense	$8M
Net Income from Continuing Ops	$45M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$45M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$45M
D&A	$26M
EBIT	$83M
EBITDA	$109M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$45M
Depreciation & Amortization	$26M
Stock-Based Compensation	$10M
Deferred Income Tax	$0
Other Non-Cash Items	$10M
Change in Working Capital	$212M
OPERATING CASH FLOW	$302M
Capital Expenditure	$0
Acquisitions (Net)	-$166M
Purchases of Investments	-$639M
Sales/Maturities of Investments	$688M
Other Investing Activities	$9M
NET CASH FROM INVESTING	-$107M
Net Debt Issuance	-$141M
Common Stock Repurchased	-$7M
Common Dividends Paid	-$54M
Other Financing Activities	-$7M
NET CASH FROM FINANCING	-$208M
FREE CASH FLOW	$302M
Net Change in Cash	-$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$29M
Short-Term Investments	$5.5B
Net Receivables	$481M
Inventory	$0
Other Current Assets	-$6.0B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$69M
Goodwill	$54M
Intangible Assets	$170M
Long-Term Investments	$6.7B
Tax Assets	$0
Other Non-Current Assets	-$7.0B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$14.0B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$546M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$546M
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$12.9B
Common Stock	$100.0K
Additional Paid-In Capital	$511M
Retained Earnings	$1.5B
Treasury Stock	-$524M
Accum. Other Comp. Income	-$314M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$14.0B
Total Debt	$546M
Net Debt	$517M