Horace Mann Educators Corporation (NYSE:HMN) Q2 2024 Results Conference Call August 8, 2024 9:00 AM ET

Company Participants

Brendan Dawal - Vice President, Investor Relations
Marita Zuraitis - President and Chief Executive Officer
Bret Conklin - Chief Financial Officer
Mark Desrochers - Senior Vice President, Property & Casualty, and Chief Corporate Actuary
Ryan Greenier - Deputy Chief Financial Officer and Chief Investment Officer

Conference Call Participants

Meyer Shields - KBW
Wilma Burdis - Raymond James

Operator

Good morning, and welcome to the Horace Mann Second Quarter of 2024 Results Conference Call. All participants will be in a listen-only mode for the duration of the call. [Operator Instructions] After today’s presentation, there also be an opportunity to ask questions. [Operator Instructions] Also, please be aware that today's call is being recorded.

I would now like to turn the call over to Brendan Dawal, Vice President, Investor Relations. Please go ahead.

Brendan Dawal

Thank you. Welcome to Horace Mann's discussion of our second quarter results. Yesterday, we issued our earnings release, 10-Q, investor supplement and investor presentation. Copies are available on the Investors page on our website.

Marita Zuraitis, President and Chief Executive Officer and Bret Conklin, Executive Vice President and Chief Financial Officer will give the formal remarks on today's call. With us for Q&A, we have Matt Sharpe, Steve McAnena, Ryan Greenier and Mark Desrochers.

Before turning it over to Marita, I want to note that our presentation today includes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The company cautions investors that any forward-looking statements include risks and uncertainties and are not guarantees of future performance. These forward-looking statements are based on management's current expectations, and we assume no obligation to update them. Actual results may differ materially due to a variety of factors, which are described in our news release and SEC filings.

In our prepared remarks, we use some non-GAAP measures. Reconciliations of these measures to the most comparable GAAP measures are available in our investor supplement.

I'll now turn the call over to Marita.

Marita Zuraitis

Thanks, Brendan, and good morning, everyone. Yesterday, we reported second quarter core earnings of $0.20 per diluted share, a significant improvement over prior year and in line with our pre announcement. Total revenues were up 9% with net premiums and contract deposits earned up 8%. Our property and casualty profitability restoration strategy remains on track to reach an underwriting profit in 2024 and target profitability in 2025. Our agency force is driving profitable growth in both our retail and worksite divisions.