Globe Life Inc. (GL) Q4 2022 Earnings Call Transcript

Globe Life Inc. (NYSE:GL) Q4 2022 Earnings Conference Call February 2, 2023 10:30 AM ET

Company Participants

Stephen Mota - Investor Relations Director

Frank Svoboda - Co-Chief Executive Officers

Matt Darden - Co-Chief Executive Officers

Tom Kalmbach - Chief Financial Officer

Mike Majors - Chief Strategy Officer

Brian Mitchell - General Counsel

Conference Call Participants

Jimmy Bhullar - J.P. Morgan

Erik Bass - Autonomous Research

Ryan Krueger - KBW

John Barnidge - Piper Sandler

Andrew Kligerman - Credit Suisse

Mark Hughes - Truist

Operator

Hello, and welcome to the Globe Life Fourth Quarter 2022 Earnings Call. My name is George. I'll be your coordinator for today's event. Please note, this conference is being recorded, and for duration of the call your lines will be in a listen-only mode. However, you will have the opportunity to ask questions at the end of the call. [Operator Instructions]

I'd now like to hand the call over to your host today, Mr. Stephen Mota, Investor Relations Director. Please go ahead, sir.

Stephen Mota

Thank you. Good morning, everyone.

Joining the call today are Frank Svoboda and Matt Darden, our Co-Chief Executive Officers; Tom Kalmbach, our Chief Financial Officer; Mike Majors, our Chief Strategy Officer; and Brian Mitchell, our General Counsel.

Some of our comments or answers to your questions may contain forward-looking statements that are provided for general guidance purposes only. Accordingly, please refer to our earnings release, 2021 10-K and any subsequent Forms 10-Q on file with the SEC.

Some of our comments may also contain non-GAAP measures. Please see our earnings release and website for a discussion of these terms and reconciliations to GAAP measures.

I will now turn the call over to Frank.

A - Frank Svoboda

Thank you, Stephen, and good morning, everyone.

Before getting started, I want to let you know that due to the ice storms in the DFW area, we are doing this call from multiple locations. So, if there are any issues with connections, please bear with us.

Then, Matt and I would like to quickly take this opportunity to thank Gary Coleman and Larry Hutchison once again and acknowledge their accomplishments as Globe Life's co-CEOs over the last 10 years, including 2022, another good year for Globe Life.

Now to the results of the quarter. In the fourth quarter, net income was $212 million, or $2.14 per share compared to $178 million or $1.76 per share a year ago. Net operating income for the quarter was $221 million or $2.24 per share, an increase of 32% from a year ago.