Shares of Unum Group (UNM) soared 5.26% on Tuesday, October 30th, 2024, following the company's better-than-expected third-quarter earnings and upbeat outlook. The insurance giant reported adjusted earnings per share of $2.13 for the quarter ended September 30th, surpassing analysts' consensus estimate of $2.10. While revenue of $3.22 billion came in slightly below expectations, the earnings beat fueled investor optimism in Unum's prospects.

The company's strong operating performance across various business segments, including disability insurance and group life, was a key driver behind the earnings beat. Unum reported historically high margins and persistency levels, with management expressing confidence in sustaining these favorable trends in the near term.

Additionally, Unum raised its earnings per share growth expectations for the full year 2024 to 10-15%, higher than its original outlook. The company cited robust premium growth and anticipated strong sales momentum in the crucial fourth quarter as contributing factors to the improved guidance.