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Aflac
🇺🇸 NYSE:AFL
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Dec 31, 2021

Aflac Q4 2021 Earnings Report

Aflac reported fourth-quarter net earnings of $1.0 billion and reiterated an increase in the first-quarter cash dividend of 21.2%.

Key Takeaways

Aflac Incorporated reported a decrease in total revenues to $5.4 billion for the fourth quarter of 2021, compared to $5.9 billion in the fourth quarter of 2020. Net earnings increased to $1.0 billion, or $1.57 per diluted share, compared to $951 million, or $1.35 per diluted share a year ago. Adjusted earnings increased by 12.6% to $850 million, with adjusted earnings per diluted share increasing 19.6% to $1.28.

Total revenues decreased to $5.4 billion in Q4 2021 from $5.9 billion in Q4 2020.

Net earnings increased to $1.0 billion, or $1.57 per diluted share, compared to $951 million, or $1.35 per diluted share a year ago.

Adjusted earnings increased 12.6% to $850 million.

Aflac Japan's pretax adjusted earnings increased 17.9% on a reported basis to ¥100.9 billion.

Total Revenue
$5.43B
Previous year: $5.91B
-8.1%
EPS
$1.28
Previous year: $1.07
+19.6%
Gross Profit
$5.43B
Previous year: $6.03B
-10.0%
Cash and Equivalents
$5.05B
Previous year: $150B
-96.6%
Total Assets
$158B
Previous year: $165B
-4.6%

Aflac

Aflac

Aflac Revenue by Segment

Forward Guidance

Aflac anticipates navigating evolving pandemic conditions and remains cautiously optimistic, focusing on prudent liquidity and capital management while continuing share repurchases and integrating growth investments.

Positive Outlook

  • The company generated strong earnings for the year, largely supported by the continuation of low benefit ratios associated with pandemic conditions and better-than-expected returns from alternative investments.
  • Aflac is encouraged by the 7.7% sales increase for the year in Japan.
  • Aflac is pleased with the 16.9% sales increase for the year in the U.S.
  • The company is committed to prudent liquidity and capital management.
  • The board decided to increase the quarterly dividend by 21.2% in the first quarter.

Challenges Ahead

  • The company continues to remain cautiously optimistic in the face of ongoing pandemic conditions.
  • Aflac continues to navigate evolving pandemic conditions in Japan, including various states of emergency that may impact the ability to meet face-to-face with customers.
  • Aflac realizes it may face headwinds from pandemic conditions in the U.S.
  • Total revenues were $5.4 billion in the fourth quarter of 2021, compared with $5.9 billion in the fourth quarter of 2020
  • Aflac Japan's net earned premiums were Â¥319.3 billion for the quarter, or 4.3% lower than a year ago

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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