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Horace Mann Educators (HMN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Horace Mann Educators (HMN) Q3 2026 earnings results →
Q3 2026 Revenue up 0% year over year to $439M · 13¢ of every $1 of revenue kept as net profit · operating margin 16.5%
Horace Mann Educators made $439M in Q3 2026 (+0.2% Y/Y). Operating margin 16.5%, net earnings $58.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $439.2M in Q3 2026, roughly flat year over year and down 1% from the previous quarter.
Operating profit was $72.6M, a 16.5% margin (up 0.2 points year over year). Of the extra revenue versus Q3 2025, 157% reached operating profit, above the 16% margin then. Total costs fell 0% while revenue was flat. Net earnings were $58.5M, roughly flat year over year. The effective tax rate was 19.4%.
Operating cash flow was $112.0M (down 26% year over year), 191% of net earnings. Non-cash charges added back $6.9M of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items added $44.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $439M | +0.2% | 16.5% | $58.5M | $112M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $444M | +8% | 11.0% | $41.6M | $224M |
| Q1 2026 | 10-Q | May 8, 2026 | $429M | +3% | 11.7% | $41.2M | $61.3M |
| Q4 2025 | 10-K | Feb 27, 2026 | $435M | +6% | 10.5% | $36.2M | $130M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $438M | +6% | 16.3% | $58.3M | $151M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $412M | +6% | 8.9% | $29.4M | $131M |
| Q1 2025 | 10-Q | May 6, 2025 | $416M | +8% | 11.4% | $38.2M | $141M |
Charts
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Horace Mann Educators
Horace Mann Educators Corporation is a holding company for insurance subsidiaries that market and underwrite personal lines of property and casualty insurance products (primarily personal lines of auto and property insurance), life insurance products, retirement products (primarily tax-qualified fixed and variable annuities), individual supplemental insurance products (primarily accident, cancer, critical illness, hospital, and supplemental disability), and group benefit products (primarily group disability, group life, and group supplemental health coverages), primarily to K-12 teachers, administrators and other employees of public schools and their families (collectively, HMEC, the Company or Horace Mann).
In its own words, from its 10-Q, filed Aug 7, 2026.
Horace Mann Educators against its Fire, Marine & Casualty Insurance peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +0.2% against the peers' median +2%. Operating margin: 16.5% against the peers' median 15.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HMN Horace Mann Educators | Q3 2026 | $439M | +0.2% | 16.5% |
| BRK-B Berkshire Hathaway | Q2 2026 | $101.8B | +10% | 15.5% |
| PGR Progressive | Q3 2026 | $23.2B | +3% | 14.0% |
| ALL Allstate | Q3 2026 | $17.3B | +0.5% | 15.1% |
| CB Chubb | Q3 2026 | $16.2B | +0.3% | 21.0% |
| TRV Travelers Companies | Q3 2026 | $12.4B | -0.5% | 19.1% |
| AIG American International Group | Q3 2026 | $7.4B | +17% | 15.0% |
| HIG Hartford Insurance Group | Q3 2026 | $7.2B | +4% | 21.9% |
| L Loews | Q3 2026 | $4.8B | +2% | 8.5% |
Source: Horace Mann Educators 10-Q on SEC EDGAR · CIK 850141 · Fire, Marine & Casualty Insurance
13F: who owns HMN and who is buying
More on HMN
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results