Globe Life Inc. · GL · FY2024 Q3 · Calendar Q4 2024

Globe Life: Premium Growth, Capital Actions, and Open Investigations

The supplied analysis supports a constructive but qualified view: premium growth, agent expansion, and capital initiatives are operating supports, while lapse rates, remeasurement volatility, legal exposure, and interest-rate risk remain important tests.

Reported After market closeNYSEFinancial Services $12.97B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $3.49 Consensus $3.06
EPS surprise +14.1% Reported versus consensus
Reported revenue $1.46B Consensus $1.48B
Revenue surprise -1.5% Reported versus consensus

Market reaction

event-close to next-session close
Stock move -1.3% Event window
SPY move +0.2% Same window
Abnormal move -1.5% Stock minus SPY
Volume 2.1× Versus trailing sessions
Subsequent drift -0.4% Up to 20 sessions
GLSPY benchmark

Ask FN2 about GL FY2024 Q3

Transcript, numbers and history already loaded

Free account. Your question opens in FN2 with this report's transcript and numbers attached.

Transcript intelligence

What changed

Relative to the prior-quarter analysis, the current analysis emphasizes Q3 operating improvement, higher 2024 guidance, continued agent expansion, reinsurance-related excess cash flow, and additional capital-allocation initiatives. It also keeps investigations and margin durability as key risks.

Guidance delta

Management raised 2024 EPS guidance in the current-quarter analysis; the supplied prior-quarter analysis also describes 2025 EPS guidance of $13.20-$13.90.

Key takeaways

  • Premium growth and agent expansion supported the current quarter’s stronger operating results.
  • Management highlighted reinsurance, potential Bermuda restructuring, and investment changes as capital priorities.
  • The main counterweights are lapse-rate sensitivity, volatile remeasurement effects, legal costs, and ongoing investigations.
  • The current analysis describes a 29% year-over-year increase in life underwriting margin.

Management priorities

  • Sustain agent recruitment and middle-management expansion
  • Complete reinsurance transactions and assess a Bermuda economic-capital framework
  • Increase exposure to floating-rate commercial mortgage loans and limited partnerships
  • Expand direct-to-consumer lead generation

Follow GL with an agent that reads every filing, transcript, and price print. Free to start.

Try FN2 free

Earnings History

Estimate Beat Miss Match
GL REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 4 future estimate-only quarters. Q4 '23 actual $1B, None Q1 '24 estimate $1B Q1 '24 actual $1B, miss Q2 '24 estimate $1B Q2 '24 actual $1B, miss Q3 '24 estimate $1B Q3 '24 actual $1B, miss Q2 '25 estimate $2B Q2 '25 actual $1B, miss Q3 '25 estimate $2B Q3 '25 actual $2B, miss Q4 '25 estimate $2B Q4 '25 actual $2B, miss Q1 '26 estimate $2B Q1 '26 actual $2B, miss Q2 '26 estimate $2B Q2 '26 actual $2B, beat Q3 '26 estimate $2B Q4 '26 estimate $2B Q1 '27 estimate $2B Q2 '27 estimate $2B
Show less

Analyst Consensus ?

ConsensusHold28 ratings
Bullish1035.7%
Neutral1139.3%
Bearish725.0%

Analyst 52W Price Targets

$167.55Current
$90Low
$156Average
$200High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 19, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
JP Morgan Overweight OverweightMaintainOct 15, 2026
Wells Fargo Overweight OverweightMaintainOct 12, 2026
Morgan Stanley Overweight OverweightMaintainOct 5, 2026
Keefe, Bruyette & Woods Outperform OutperformMaintainJul 24, 2026
TD Cowen Buy BuyMaintainJul 22, 2026
Show 23 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $167.55. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Morgan StanleyAnalyst unavailable$197$165.25 +17.6%Oct 5, 2026
Piper SandlerPaul Newsome$200$178.99 +19.4%Jul 15, 2026
JefferiesAnalyst unavailable$166$178.86 -0.9%Jul 10, 2026
Piper SandlerAnalyst unavailable$175$156.28 +4.4%May 26, 2026
Morgan StanleyAnalyst unavailable$181$155.3 +8.0%May 21, 2026
See 27 more

Track every rating change on GL the moment it posts. Free to start.

Start free

Company context

Snapshot as of publication

Globe Life Inc. delivers diverse life insurance and supplementary health coverage, alongside annuity products, targeting households in the lower-middle to middle-income brackets throughout the United States. The company's operations are structured into four key segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. Its offerings encompass whole life, term life, and other life protection plans; supplemental health benefits like Medicare supplements, critical illness, and accident policies; and both single-premium and flexible-premium deferred annuities. Founded in 1979 and headquartered in McKinney, Texas, the enterprise rebranded from Torchmark Corporation to Globe Life Inc. in August 2019.

Historical context

All GL earnings

Financial Services peers this season

Latest reports in the same sector

Latest beats and misses

Who reports next

Get the GL recap when the next report posts

One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.

Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2024-11-10T18:38:36.707185+00:00
  3. Polygon adjusted daily market bars · 2026-10-19T15:50:43.387244+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-19T15:50:43.384414+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-19. For educational purposes only; not investment advice.