NYSE$KMPR
Kemper Corporation · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Kemper reported a net loss impacted by catastrophe losses, prior year adverse development, and higher-than-anticipated frequency. Rate actions continue to earn in at an accelerated pace.
Kemper Corporation reported a net loss of $80.1 million for the first quarter of 2023, compared to a net loss of $86.3 million for the first quarter of 2022. Adjusted Consolidated Net Operating Loss was $65.2 million, compared to $51.6 million in the prior year. The results were impacted by elevated catastrophe losses, prior year adverse development, and higher-than-anticipated frequency.
- Profitability impacted by catastrophe losses, prior year adverse development, and higher-than-anticipated frequency.
- Excess mortality at or near pre-pandemic levels, albeit sequentially; claims increased in first quarter.
- Rate actions continue to earn in at an accelerated pace.
- Declared dividend of $0.31 per share
Headline financials
Revenue & EPS history
Kemper · Revenue · Quarterly
$1.29B
Revenue by segment
Kemper · $1.13B total across 2 segments · Q1 2023
- Specialty Property & Casualty Insurance$984M-6.3%86.9%
- Life Insurance$149M-27.9%13.1%
Forward guidance
Kemper expects a return to underwriting profitability by the end of 2023 and to achieve their financial targets in 2024.
Tailwinds
- Increased rates earning in
- Incremental rate filings
- Tightened underwriting
- Targeted expense reductions
- Relentlessly focused on taking actions intended to make the necessary improvements and deliver long-term value to our shareholders.
Headwinds
- Profitability impacted by catastrophe losses
- Prior year adverse development
- Higher-than-anticipated frequency
- Weather was a significant contributor to the frequency increase and episodic in nature.
- First quarter results were below expectations.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-0.2%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+2.3%
Avg return
30 days after
53%
36 / 68 earnings
Positive
+16.3%
Q3 2015
Best reaction
-20.1%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -8.8% | -6.2% | -24.7% | |
| Q4 2025 | -13.1% | -15.6% | -17.5% | |
| Q3 2025 | -0.8% | -3.4% | -10.1% | |
| Q1 2025 | +1.6% | +5.4% | +3.7% | |
| Q4 2024 | +1.4% | -2.1% | -2.9% | |
| Q3 2024 | -2.0% | -1.4% | +12.5% | |
| Q2 2024 | -9.1% | -5.3% | -2.1% | |
| Q1 2024 | +0.1% | +3.7% | +2.6% | |
| Q4 2023 | -4.5% | +12.0% | +2.8% | |
| Q3 2023 | -3.4% | +1.9% | +4.8% | |
| Q2 2023 | -6.6% | -6.3% | -7.4% | |
| Q1 2023 | +1.8% | -2.9% | +2.3% | |
| Q4 2022 | +5.9% | +4.2% | +10.3% | |
| Q3 2022 | +4.5% | +17.7% | +20.1% | |
| Q2 2022 | -8.8% | -6.6% | -1.7% | |
| Q1 2022 | +12.1% | +5.5% | +12.0% | |
| Q4 2021 | -10.7% | -10.7% | -12.2% | |
| Q3 2021 | -7.9% | -7.2% | -15.4% | |
| Q2 2021 | -2.5% | -7.3% | +3.8% | |
| Q1 2021 | -4.7% | -3.2% | -8.6% | |
| Q4 2020 | -0.9% | +1.9% | +10.2% | |
| Q3 2020 | +5.4% | +5.1% | +24.0% | |
| Q2 2020 | +3.8% | +8.1% | -0.9% | |
| Q1 2020 | +3.3% | -5.2% | +15.9% | |
| Q4 2019 | +0.8% | -0.1% | -14.0% | |
| Q3 2019 | +1.4% | +2.1% | +1.9% | |
| Q2 2019 | -10.2% | -7.9% | -17.8% | |
| Q1 2019 | +3.9% | +4.9% | -2.0% | |
| Q4 2018 | +4.1% | +7.3% | +6.2% | |
| Q3 2018 | +2.2% | +1.4% | -3.2% | |
| Q2 2018 | +6.5% | +6.5% | +8.7% | |
| Q1 2018 | +12.9% | +16.7% | +29.6% | |
| Q4 2017 | -7.3% | +1.9% | -1.9% | |
| Q3 2017 | +5.5% | +5.8% | +14.9% | |
| Q2 2017 | +13.4% | +21.3% | +22.0% | |
| Q1 2017 | -1.6% | -2.4% | +4.2% | |
| Q4 2016 | +5.5% | +4.5% | -2.8% | |
| Q3 2016 | -1.5% | +0.8% | +13.0% | |
| Q2 2016 | +12.2% | +15.1% | +10.4% | |
| Q1 2016 | +1.5% | — | — | |
| Q4 2015 | -20.1% | — | — | |
| Q3 2015 | +16.3% | — | — | |
| Q2 2015 | -1.9% | — | — | |
| Q1 2015 | -1.7% | — | — | |
| Q4 2014 | +3.3% | — | — | |
| Q3 2014 | +0.1% | — | — | |
| Q2 2014 | +0.1% | — | — | |
| Q1 2014 | -7.3% | — | — | |
| Q4 2013 | +1.7% | — | — | |
| Q3 2013 | +3.1% | — | — | |
| Q2 2013 | +1.5% | — | — | |
| Q1 2013 | +2.6% | — | — | |
| Q4 2012 | -3.7% | — | — | |
| Q3 2012 | +0.9% | — | — | |
| Q2 2012 | -2.0% | — | — | |
| Q1 2012 | -0.5% | — | — | |
| Q4 2011 | +0.3% | — | — | |
| Q3 2011 | +8.3% | — | — | |
| Q2 2011 | -7.5% | — | — | |
| Q1 2010 | -3.0% | — | — | |
| Q1 2011 | +1.5% | — | — | |
| Q4 2010 | +7.3% | — | — | |
| Q4 2008 | +7.3% | — | — | |
| Q3 2009 | -0.4% | — | — | |
| Q3 2010 | -0.4% | — | — | |
| Q4 2009 | -8.9% | — | — | |
| Q2 2009 | -8.9% | — | — | |
| Q2 2010 | -8.9% | — | — |
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