Loading...
•
Sep 30, 2024
Aflac Q3 2024 Earnings Report
Aflac's Q3 2024 results were announced, with a net loss reported due to increased foreign exchange-related losses.
Key Takeaways
Aflac Incorporated reported a net loss of $93 million for the third quarter of 2024, primarily due to increased foreign exchange-related losses. Adjusted earnings were $1.2 billion, reflecting a 10.6% increase. The company deployed $500 million to repurchase 4.9 million of its common shares.
Total revenues were $2.9 billion, compared to $5.0 billion in the third quarter of 2023.
Net losses were $93 million, or $0.17 per diluted share, compared to earnings of $1.6 billion, or $2.64 per diluted share a year ago.
Adjusted earnings were $1.2 billion, compared with $1.1 billion in the third quarter of 2023, reflecting an increase of 10.6%.
Aflac Japan's total new annualized premium sales increased 12.3% to $117 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Aflac is focusing on profitable growth in the U.S. and Japan with new products and distribution strategies.
Positive Outlook
- Continued focus on generating profitable growth in the U.S. and Japan.
- Concentrating on third sector products and introducing policies to new and younger customers in Japan.
- Achieved 5.5% sales growth in the U.S. for the quarter.
- Focusing on more profitable growth and seeing improvement in net earned premiums in the U.S.
- Generating strong capital and cash flows while maintaining commitment to prudent liquidity and capital management.
Challenges Ahead
- Difficult conditions in global capital markets and the economy, including inflation.
- Defaults and credit downgrades of investments.
- Global fluctuations in interest rates and exposure to significant interest rate risk.
- Concentration of business in Japan.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...