This Day On The Street
Continue to site
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

FBL Financial Group Reports Third Quarter 2012 Results

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

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


Three months ended September 30,



Net income attributable to FBL $

    $ 27,069
Net income from continuing operations 20,487 15,714
Operating income 18,746 16,250
Earnings per common share (assuming dilution):
Net income 0.76 0.86
Net income from continuing operations 0.76 0.50
Operating income 0.70 0.52

FBL Financial Group, Inc. (NYSE: FFG) today reported net income attributable to FBL for the third quarter of 2012 of $20.5 million, or $0.76 per diluted common share compared to $27.1 million, or $0.86 per diluted common share, for the third quarter of 2011. Net income from continuing operations for the third quarter of 2012 was $20.5 million, or $0.76 per diluted common share compared to $15.7 million, or $0.50 per diluted common share, for the third quarter of 2011.

Operating Income (1) . Operating income totaled $18.7 million, or $0.70 per common share, for the third quarter of 2012, compared to $16.3 million, or $0.52 per common share, for the third quarter of 2011. Third quarter 2012 operating income reflects strong underlying results, increased investment fee income and the unfavorable impact of $0.13 per share from unlocking assumptions used in the calculation of deferred acquisition costs, value of insurance in force acquired and unearned revenue reserves. 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 another quarter of strong financial results with net income of $0.76 per share and operating income of $0.70 per share. This reflects the sound fundamentals of Farm Bureau Life Insurance Company and the execution of our capital management plans. Given the challenges of the macroeconomic environment, we continue to maintain a strong capital position, prudently manage expenses and emphasize life insurance sales, which were up 11 percent during the quarter," said James P. Brannen, Chief Executive Officer of FBL Financial Group, Inc. "The ongoing repurchase of FBL Financial Group stock, with 0.9 million shares repurchased during the third quarter, results in year-to-date repurchases of 5.0 million shares. This is significant as it is 16 percent of our total common shares outstanding as of the beginning of the year."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $37.40 3.90%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs