This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

FBL Financial Group Reports Second Quarter 2012 Results

Stocks in this article: FFG

FBL Financial Group, Inc. (NYSE: FFG):

Financial Highlights(Dollars in thousands, except per share data)

    Three months ended June 30,
2012     2011
Net income attributable to FBL $ 20,291     $ 36,239
Net income from continuing operations 20,277 24,224
Operating income 19,917 23,406
Earnings per common share (assuming dilution):
Net income 0.73 1.16
Net income from continuing operations 0.73 0.78
Operating income       0.72       0.75

FBL Financial Group, Inc. (NYSE: FFG) today reported net income attributable to FBL for the second quarter of 2012 of $20.3 million, or $0.73 per diluted common share compared to $36.2 million, or $1.16 per diluted common share, for the second quarter of 2011. Net income from continuing operations for the second quarter of 2012 was $20.3 million, or $0.73 per diluted common share compared to $24.2 million, or $0.78 per diluted common share, for the second quarter of 2011.

Operating Income (1) . Operating income totaled $19.9 million, or $0.72 per common share, for the second quarter of 2012, compared to $23.4 million, or $0.75 per common share, for the second quarter of 2011. Second quarter 2011 operating income included the one-time benefit of $0.15 per share from refinements to actuarial estimates. Operating income differs from the GAAP measure, net income attributable to FBL Financial Group, in that it excludes the impact of realized gains and losses on investments, the change in net unrealized gains and losses on derivatives, the net impact of discontinued operations and the loss on debt redemption. For further information on this non-GAAP financial measure, please refer to Note (1) and the reconciliation provided within this release.

"I am pleased to report a solid quarter with net income of $0.73 per share and operating income of $0.72 per share. We've been addressing the challenges of the low interest rate environment from several aspects, including emphasizing life insurance sales while deliberately reducing annuity sales. Our exclusive Farm Bureau agency force is receptive to the changes this environment brings, as they have a wide portfolio of products with which to meet the needs of their customers. In addition, our balanced life and annuity product mix and in force business provides earnings stability in these challenging times," said James P. Brannen, Chief Executive Officer of FBL Financial Group, Inc. "The valuation of FBL Financial Group stock continues to be compelling, so we repurchased 0.9 million shares of FBL stock during the quarter, making additional progress in deploying excess capital. Year to date we have repurchased thirteen percent of total common shares outstanding as of the beginning of the year."

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs