Citizens, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 02:20 am IST
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Citizens, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 59.39 million compared to USD 56.18 million a year ago. Net income was USD 2.7 million compared to USD 3.41 million a year ago. Basic earnings per share from continuing operations was USD 0.06 compared to USD 0.07 a year ago. Diluted earnings per share from continuing operations was USD 0.05 compared to USD 0.06 a year ago.
For the nine months, revenue was USD 173.83 million compared to USD 165.27 million a year ago. Net income was USD 13.7 million compared to USD 12.35 million a year ago. Basic earnings per share from continuing operations was USD 0.28 compared to USD 0.25 a year ago. Diluted earnings per share from continuing operations was USD 0.27 compared to USD 0.24 a year ago.
Citizens, Inc. is a diversified financial services company. The Company is providing life, living benefits and final expense insurance and other financial products to individuals and small businesses in the United States, Latin America, and Asia. The Company operates through two segments: Life Insurance, and Home Service Insurance. The Life Insurance segment sells United States dollar-denominated ordinary whole life insurance, endowment, and critical illness policies to non-United States residents, located principally in Latin America and the Pacific Rim, internationally. Also, this segment domestically sells whole life insurance, life insurance with living benefits, critical illness, credit life and disability products throughout the United States. Home Service Insurance segment sells final expense life insurance policies to middle- and lower-income households, as well as whole life products with higher allowable face values, in Louisiana, Mississippi and Arkansas.