Kansas City Life Announces First Quarter 2026 Results

Rhea-AI Summary

Kansas City Life (OTCQX: KCLI) reported Q1 2026 net income of $9.6 million ($0.99 per share), versus $4.2 million ($0.43) in Q1 2025. Results reflected a $3.0 million (5%) decrease in policyholder benefits and a $1.8 million (5%) rise in investment revenues. Insurance revenues fell $2.1 million (3%). The company recorded income tax benefits of $5.5 million in Q1 2026 versus $3.6 million a year earlier. Average shares outstanding remained 9,683,414 and dividends paid rose to $0.18 from $0.14.

Positive

• Net income up to $9.6M in Q1 2026 from $4.2M
• EPS increased to $0.99 in Q1 2026 from $0.43
• Income tax benefits of $5.5M in Q1 2026
• Dividend raised to $0.18 from $0.14

Negative

• Insurance revenues declined $2.1M (3%) year-over-year
• Policyholder account reserves increased (press release note)

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KANSAS CITY, Mo., May 1, 2026 /PRNewswire/ -- Kansas City Life Insurance Company recorded net income of $9.6 million or $0.99 per share in the first quarter of 2026, up from net income of $4.2 million or $0.43 per share in the first quarter of 2025. 

The increase in net income in the first quarter of 2026 largely resulted from a $3.0 million or 5% decrease in policyholder benefits and an increase in investment revenues of $1.8 million or 5%.  Lower death benefits and reduced annuity benefits drove the decrease in policyholder benefits.  In addition, realized losses were lower in the current year versus the prior year, largely due to the change in the fair value of certain investments.  Partially offsetting these improvements, insurance revenues declined $2.1 million or 3% versus the prior year, largely reflecting lower premiums, net of reinsurance, and reserves on policyholder account balances increased.  In addition, the Company had income tax benefits of $5.5 million in the first quarter of 2026 and $3.6 million in the first quarter of 2025.  These tax benefits  primarily resulted from payments to settle legal matters.

Kansas City Life Insurance Company (OTCQX: KCLI) was established in 1895 and is based in Kansas City, Missouri.  The Company's primary business is providing financial protection through the sale of life insurance and annuities.  The Company operates in 49 states and the District of Columbia. For more information, please visit www.kclife.com.

Kansas City Life Insurance Company Condensed Consolidated Income Statement (amounts in thousands, except share data)
	Quarter Ended
	March 31
	2026			2025 1
Revenues	$	117,811		$	117,990
Net income	$	9,571		$	4,160
Net income per share, basic and diluted	$	0.99		$	0.43
Dividends paid	$	0.18		$	0.14
Average number of shares outstanding		9,683,414			9,683,414
1 Certain prior period amounts have been recast as a result of our adoption of Accounting Standards Update No. 2018-12 Targeted Improvements to the Accounting for Long Duration Contracts.  For additional information, please see our 2025 Annual Report at www.kclife.com.

 

View original content:https://www.prnewswire.com/news-releases/kansas-city-life-announces-first-quarter-2026-results-302760402.html

SOURCE Kansas City Life Insurance Company

FAQ

What were Kansas City Life (KCLI) Q1 2026 earnings results?

Kansas City Life reported Q1 2026 net income of $9.6 million ($0.99 per share). According to the company, results reflected lower policyholder benefits, higher investment revenue, and larger income tax benefits versus Q1 2025.

Why did Kansas City Life (KCLI) net income rise in Q1 2026?

Net income rose primarily from a $3.0 million decrease in policyholder benefits and higher investment revenue. According to the company, lower death and annuity benefits and fewer realized losses contributed to the improvement.

How did Kansas City Life (KCLI) revenue and premiums perform in Q1 2026?

Revenues were essentially flat at $117.8 million in Q1 2026 versus $118.0 million a year earlier. According to the company, insurance revenues declined due to lower premiums net of reinsurance and higher policyholder account reserves.

Did Kansas City Life (KCLI) change its dividend in Q1 2026?

Yes. The company paid a dividend of $0.18 in Q1 2026 versus $0.14 in Q1 2025. According to the company, average shares outstanding remained 9,683,414 in both periods.

What tax effects affected Kansas City Life (KCLI) Q1 2026 results?

Kansas City Life recorded $5.5 million of income tax benefits in Q1 2026 versus $3.6 million in Q1 2025. According to the company, those benefits primarily resulted from payments to settle legal matters.