Horace Mann Raises 2026 Core EPS Outlook to $5.75-$5.95

Horace Mann Educators Corporation (HMN) raised its 2026 core earnings-per-share outlook to $5.75 to $5.95, while projecting an additional annual earnings contribution from three transactions involving Medical Mutual of Ohio.

Once all three transactions are complete, Horace Mann expects them to contribute $0.40 to $0.50 in annual core EPS. The deals are also expected to increase core shareholder return on equity by about 100 basis points, or 1 percentage point. The estimate is conditional on all three closings and describes an annual contribution.

Horace Mann's third-quarter core EPS was $2.06, up 50% from the prior year's record. Company President and CEO Marita Zuraitis described the quarter as the strongest in the company's history.

Results benefited from lighter catastrophe losses, favorable reserve changes and releases, and strong returns from limited partnerships. The company also pointed to benign weather and lower catastrophe losses in homeowners, along with rate increases, non-rate actions and portfolio optimization. Catastrophe experience was below historical averages, and management flagged a pending California rate increase.

Horace Mann has a separate normalized EPS reference range of $4.25 to $4.45. That range is not 2027 guidance and is distinct from the company's raised 2026 core EPS outlook.

Horace Mann expects the two remaining deals to close during the first three months of 2027.