Horace Mann Profit Slides

Horace Mann Educators(HMN Quote), an insurance holding company, said its first-quarter earnings fell 12.8% from the year-ago period.

The Springfield, Ill.-based company earned $23.2 million, or 50 cents a share, in the quarter, compared with $26.6 million, or 57 cents a share, a year ago. First-quarter earnings includes net realized gains on securities of $1.8 million, or 4 cents a share. Analysts surveyed by Thomson First Call were expecting earnings of 46 cents a share in the most recent quarter.

First-quarter revenue fell 2.4% from a year ago to $215.4 million. ...