Unum Group Beats Q4 EPS Estimates

Shares of Unum Group

are flat in the after-hours following the release of the company's Q4 earnings results. Shares ended the regular session lower by 0.59%, at $23.65. Unum Group reported Q4 EPS of $0.78 on revenues of $2.6 billion; the Street was looking for $0.75 per share on revenues of $2.59 billion. Revenues increased 0.5% year over year. The company concluded its strategic review of its long-term care business and announced that it will discontinue new sales of group long-term care contracts during the first quarter of 2012 and reclassify the long-term care line of business from the Unum US segment to the Closed Block segment. "I am very pleased with our continued ability to deliver strong underlying operating results," said Thomas R. Watjen, president and chief executive officer. "We remain focused on growing in our targeted markets and generating solid profitability in our core businesses, while at the same time maintaining a strong balance sheet and capital position. Exiting long-term care further sharpens our focus around businesses consistent with the strategic direction we have set for our company. Our disciplined approach is working, as even in this difficult environment we achieved solid operating earnings per share growth in 2011 and finished the year with our highest level of risk-based capital." Unum Group and its insurance and non-insurance subsidiaries, operate in the United States, the United Kingdom, and, to a limited extent, in certain other countries worldwide.