Full Transcript: Globe Life Q2 2026 Earnings Call

Globe Life (NYSE: GL ) held its second-quarter earnings conference call on Thursday.

Below is the complete transcript from the call.

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Access the full call at Summary Globe Life Inc. reported a 20% increase in net income per share and a 10% increase in net operating income per share for Q2 2026, maintaining strong financial performance across various economic conditions.

Insurance operations saw a 7% growth in total premium revenue, with life and health premiums increasing by 3% and 16%, respectively.

The company expects continued premium growth for the full year.

Administrative expenses increased by 6%, but Globe Life plans to leverage AI to improve efficiency and reduce these costs over time.

Agent count at American Income Life showed sequential growth, and further improvements are expected due to compensation adjustments aimed at boosting recruitment and retention.

Health margins were slightly lower due to various factors, but overall growth remains strong, particularly in the Medicare supplement business.

Investment operations reported a 4% increase in net investment income, with a focus on investing in fixed maturities and long-term debt-like investments.

The company repurchased $175 million in shares during the quarter and anticipates a total of $670 to $700 million in share repurchases for the year.

Progress on the Bermuda subsidiary continues, with an expectation of capital benefits emerging over the next few years.

2026 guidance includes an expected 8.5% growth in net operating earnings per share, with normalized EPS growth projected between 9% and 10%.

Full Transcript Jim, Operator Hello and welcome to Globe Life Inc.

Second Quarter Earnings Release Conference Call.

My name is Jim and I will be your coordinator for today's event.

Please note today's conference is being recorded, and during our presentation all participants will remain in a muted, listen-only mode to prevent any background noise.

After today's prepared remarks, we will conduct a question and answer session, and instructions on how to participate will be shared at that time.

It is now my pleasure to hand over to your host, Stephen Mota, Vice President of Investor Relations, to begin today's conference.

Thank you.

Stephen Mota, Vice President of Investor Relations Thank you.

Good morning everyone.

Joining the call today are Frank Svoboda and Matt Thornton, our Co-Chief Executive Officers, Tom Kalmbach, our Chief Financial Officer, Mike Majors, our Chief Strategy Officer, and Brian Mitchell, our General Counsel.

Some of our comments or answers to your questions may contain forward-looking statements.

They are provided for general guidance purposes only.

Accordingly, please refer to our earnings release, 2025 10-K, and any subsequent Forms 10-Q on file with the SEC.

Some of our comments may also contain non-GAAP measures.

Please see our earnings release and website for discussion of these terms and reconciliations to GAAP measures.

I will now turn the call over to Frank.

Frank Svoboda, Co-Chief Executive Officer Thank you, Stephen, and good morning everyone.

In the second quarter, net income was $288 million or $3.65 per share, an increase of 20% over the $3.05 per share a year ago.

Net operating income for the quarter was $285 million or $3.61 per share, an increase of 10% over the $3.27 per share a year ago.

We are pleased to see continued strong results in our operations.

As we have said many times over the years, our business model is resilient and able to generate earnings growth regardless of the economic environment, as clearly demonstrated by Globe Life, having produced double-digit net operating income per share growth in eight of the last nine quarters on a GAAP reported basis.

Return on equity through June 30 is 18.4% and book value per share is $70.18.