Liberty Corporation Reports Strong Third Quarter Earnings

Strategic Insights -

The Liberty Corporation, a holding company based in Greenville, South Carolina, announced its third quarter operating earnings of $15.3 million, an 11% increase over the previous year. This growth was driven by strong performances in both the insurance and broadcasting operations, with operating earnings in the insurance sector increasing 15% and broadcasting operations reporting a 39% increase in operating income. The company's net income for the third quarter was $15.2 million, with realized investment losses of $0.1 million.

Key Takeaways:

  • The Liberty Corporation reported an 11% increase in third quarter operating earnings, reaching $15.3 million.
  • Operating earnings in the insurance sector increased 15% to $14.5 million, largely driven by improvement in investment income from higher residential real estate lot sales.
  • Broadcasting operations reported a 39% increase in operating income, with revenues increasing by 29%.
  • Net income for the third quarter was $15.2 million, with realized investment losses of $0.1 million.
  • Liberty Life provided $1.1 million of the increase in insurance operations, primarily due to higher investment income.
  • Operating earnings per common share increased 8% to $0.71, up from $0.66 in the prior-year period.
  • The company's net income for the first nine months of 1995 was $41.2 million, compared to $38.1 million for the same period in 1994.
  • Realized investment losses for 1995 were $1.9 million, compared to realized investment gains of $0.5 million in the prior-year period.

Statistics:

  • Third quarter operating earnings: $15.3 million (11% increase over 1994)
  • Operating earnings per common share: $0.71 (8% increase over 1994)
  • Net income for Q3 1995: $15.2 million
  • Realized investment losses for Q3 1995: $0.1 million
  • Operating earnings for the first nine months of 1995: $43.1 million
  • Net income for 1995 (Jan-Sep): $41.2 million
  • Realized investment losses for 1995 (Jan-Sep): $1.9 million

Sources:

  • The Liberty Corporation press release, dated November 6, 1995