Globe Life Inc. (GL) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, and welcome to the Globe Life, Inc. third quarter earnings release call. My name is Jeanne, and I will be your coordinator for today's event. Please note, this call is being recorded. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question at that time, press star, followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. I will now hand you over to your host, Stephen Moda, Senior Director of Investor Relations at to begin today's conference. Thank you. Thank you. Good morning, everyone. Joining the call today are Frank Svoda and Matt Darden, our co-chief executive officers, Tom Kambach, 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 that are provided for general guidance purposes only. Accordingly, please refer to our earnings release 2024-10-K, any subsequent forms 10-Q on file with the SEC. Some of our comments may also contain on gap measures. Please see our earnings release and website for discussion of these terms and reconciliations to gap measures. I will now turn the call over to Frank. Thank you, Stephen, and good morning, everyone. In the third quarter, net income was $388 million or $4.73 per share compared to $303 million or $3.44 per share a year ago. Net operating income for the quarter was $394 million or $4.81 per share, an increase of 38% over the $3.49 per share from a year ago. On a GAAP reported basis, Return on equity through September 30th is 21.9%, and book value per share is $69.52. Excluding Accumulated Other Comprehensive Income, or AOCI, return on equity is 16.6%, and book...