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Jun 30, 2023
Aflac Q2 2023 Earnings Report
Aflac reported strong earnings, driven by growth initiatives and effective capital management.
Key Takeaways
Aflac Incorporated reported second quarter net earnings of $1.6 billion, or $2.71 per diluted share, compared to $1.4 billion, or $2.17 per diluted share a year ago. Total revenues were $5.2 billion, slightly down from $5.3 billion in the second quarter of 2022. Adjusted earnings were $954 million, up 1.0% from the previous year, with adjusted earnings per diluted share increasing 7.5% to $1.58. The company deployed $700 million in capital to repurchase 10.5 million of its common shares.
Net earnings for the second quarter reached $1.6 billion, or $2.71 per diluted share.
Total revenues for the second quarter amounted to $5.2 billion.
Adjusted earnings increased by 1.0% to $954 million.
Aflac deployed $700 million to repurchase 10.5 million common shares.
Aflac
Aflac
Aflac Revenue by Segment
Aflac Revenue by Geographic Location
Revenue by Segment
Corporate and Other Revenue
CapyFin.comRevenue by Geographic Location
Japan Revenue
CapyFin.comUS Revenue
CapyFin.com Forward Guidance
Aflac is focused on initiatives in the U.S. and Japan around new products and distribution strategies. They are committed to prudent liquidity and capital management, extending dividend growth, and repurchasing shares.
Positive Outlook
- Improvements through agencies and strategic alliances in Japan.
- Encouraged by early sales results of Japan Post Company and Japan Post Insurance.
- Looking to gain new customers through products like WAYS and Child Endowment.
- Continued improvement in the productivity of agents and brokers in the U.S.
- Committed to extending track record of dividend growth.
Challenges Ahead
- Difficult conditions in global capital markets and the economy, including inflation and the continued effects caused by COVID-19.
- Defaults and credit downgrades of investments.
- Global fluctuations in interest rates and exposure to significant interest rate risk.
- Concentration of business in Japan.
- Limited availability of acceptable yen-denominated investments.