AABP EP Awards 728x90

FBL Financial earnings fourth-quarter earnings down

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FBL Financial Group reported net income for the fourth quarter of $6.4 million, or 26 cents per share, compared to $104 million, or $4.15 per share, for the fourth quarter of 2017. Fourth quarter 2017 net income included a one-time benefit from the Tax Cuts and Jobs Act of 2017 of $81.2 million. Non-GAAP operating income totaled $18.8 million for the fourth quarter, compared to $23.0 million for the fourth quarter of 2017. Full year 2018 net income totaled $4.15 per share and full year 2018 non-GAAP operating income totaled $4.36 per share. Fourth-quarter 2018 results “reflect the impact of several items, including volatile equity markets and a charge related to ongoing expense savings,” said James Brannen, CEO of FBL Financial. Life insurance premiums collected in the fourth quarter were up 5 percent year over year and annuity premiums collected were up 3 percent from a year ago.