Unum earnings flat in fourth quarter

Unum earnings flat in fourth quarter

February 4th, 2014 by Staff Report in Local - Breaking News

Unum Corp., matched its per-share earnings in the fourth quarter and met analysts' expectations after the Chattanooga-based insurer continued to buy back its stock last year.

Unum said today it earned $221.2 million, or 84 cents per share, in the fourth quarter of 2013. A year earlier, Unum earned $233.9 million, or 84 cents per share, with more stock outstanding.

"Overall, it was a very good quarter and yar for us, and you should all be proud of what you've accomplished," Unum CEO Tom Watjen said in a memo to Unum employees Tuesday. "Although profitably growing our buisness remains a challenge, I'm very encouraged by the sales momentum we built in the second half of the year."

Watjen said the company repurchased $50 million of stock in the fourth quarter and $319 million of stock for the entire year.