Unum Group’s headquarters overlook downtown Chattanooga.Chattanooga-based Unum Group grew at a brisk pace in the second quarter, beating Wall Street estimates and brushing aside the memory of previous years that saw rising profit per share but slipping revenues.
But the ride isn’t over for investors. The disability insurer expects its good fortune to continue through 2014, with anticipated earnings growth for the full year of between 5 and 10 percent, according to an earnings statement Wednesday.
In the second quarter alone, the insurance giant grew after-tax retirement income, which excludes certain onetime expenses, to $234.8 million, or 91 cents per share, up from $218.5 million, or 82 cents per share in the second quarter of 2013.
The results were 4 cents per share ahead of analysts’ expectations.
“I’m pleased to report it was a strong quarter, with each of our businesses performing quite well in terms of both profitability and growth,” president and CEO Tom Watjen wrote in a letter to employees.