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Mar 31, 2022
Aflac Q1 2022 Earnings Report
Aflac's first quarter results were announced, reporting net earnings of $1.0 billion and declaring a second quarter cash dividend.
Key Takeaways
Aflac Incorporated reported first quarter net earnings of $1.0 billion, or $1.58 per diluted share. Total revenues were $5.3 billion, compared to $5.9 billion in the same quarter of the previous year. Adjusted earnings were $927 million, or $1.42 per diluted share, a decrease of 12.4%.
Total revenues were $5.3 billion, a decrease from $5.9 billion in the first quarter of 2021.
Net earnings were $1.0 billion, or $1.58 per diluted share, compared to $1.3 billion, or $1.87 per diluted share a year ago.
Adjusted earnings were $927 million, a decrease of 12.4% from $1.1 billion in the first quarter of 2021.
Aflac U.S. sales increased 19.0% reflecting continued improvement in pandemic conditions and investment in growth initiatives.
Revenue by Segment
Forward Guidance
Aflac expects stronger sales in the second half of the year in Japan assuming pandemic conditions subside, productivity continues to improve at Japan Post, and they execute on product introductions. In the U.S., they continue to work toward reinforcing their position and generating stronger sales for the year, while keeping an eye on potential headwinds.
Positive Outlook
- Stronger sales expected in Japan in the second half of the year.
- Pandemic conditions are expected to subside.
- Productivity is expected to improve at Japan Post.
- Execution on product introduction and refreshment plans.
- Continued momentum in the core voluntary business in the U.S.
Challenges Ahead
- Potential headwinds in the U.S.
- Evolving pandemic conditions.
- Various states of emergency were in effect through mid-March.
- Impacted ability to meet face-to-face with customers.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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