Horace Mann Educators Corp. (NYSE:HMN) Q2 2020 Earnings Conference Call - Final Transcript

Aug 07, 2020 • 09:00 am ET


Horace Mann Educators Corp. (NYSE:HMN) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning, and welcome to the Horace Mann Second Quarter 2020 Results Conference Call. [Operator Instructions]

Please note, this event is being recorded. I would now like to turn the conference over to Heather Wietzel, Vice President, Investor Relations. Please go ahead.

Heather J. Wietzel

Thank you, and good morning, everyone. Welcome to Horace Mann's discussion of our second quarter results. Yesterday, we issued our earnings release and investor supplement. Copies are available on the Investors page of our website, along with our investor presentation, which was posted this morning. 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 on distribution; Mark Desrochers on P&C; Wade Rugenstein on Supplemental; Mike Weckenbrock on Life and Retirement; and Ryan Greenier on Investment. Before turning 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 news release.

With that, I'll now turn the call over to Marita.

Marita Zuraitis

Thanks, Heather. Good morning, everyone, and welcome to our call. Last night, we reported second quarter core earnings of $0.67 per diluted share. These results clearly reflect the value we bring to the educators we serve through our solutions orientation as well as the positive impact of our long-term profitability initiatives and the transformational actions we took in 2019. They also reflect some unusual pandemic-related effects that make comparisons to other periods challenging. Bret will help distinguish between the positive outcomes of our strategic initiatives and the ways in which the pandemic has influenced our performance later in the call. But at a high level, we are raising our 2020 full year core EPS guidance to a range between $2.80 and $3 to reflect the strong first half results. In my remarks, I want to focus on how we are adjusting and evolving our business practices to better meet the needs of a more physically distant educator workforce. For the past 75 years, what has remained constant at Horace Mann is our commitment to supporting educators. Today, educators are facing immense challenges in their professional lives, on top of the challenges the pandemic has caused in all of our personal lives. Whether educators are in schools, at home or working in a hybrid model in the upcoming school year, we're here to help them protect what they have today and prepare for a successful tomorrow. We delivered on that promise this