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Dec 31, 2022
Aflac Q4 2022 Earnings Report
Aflac reported a decrease in net earnings for Q4 2022, impacted by foreign exchange-related net investment losses.
Key Takeaways
Aflac's Q4 2022 total revenues were $4.0 billion, compared to $5.4 billion in Q4 2021. Net earnings were $185 million, or $0.30 per diluted share, compared to $1.0 billion, or $1.57 per diluted share a year ago. Adjusted earnings were $806 million, compared to $850 million in Q4 2021. Adjusted earnings per diluted share increased 0.8% to $1.29 in the quarter.
Total revenues for Q4 2022 were $4.0 billion, a decrease from $5.4 billion in Q4 2021.
Net earnings for Q4 2022 were $185 million, or $0.30 per diluted share, a significant decrease from $1.0 billion, or $1.57 per diluted share a year ago, mainly due to foreign exchange-related net investment losses.
Adjusted earnings for Q4 2022 were $806 million, a decrease of 5.2% from $850 million in Q4 2021.
Aflac U.S. sales increased 17.4% in the quarter, while Aflac Japan sales increased 11.4%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Aflac is encouraged by the sales increase of 11.4% in the fourth quarter in Japan and 17.4% in the U.S., reflecting a new cancer product launch and first sector product updates. The company is committed to prudent liquidity and capital management and continues to generate strong investment results while remaining in a defensive position as it monitors evolving economic conditions.
Positive Outlook
- Aflac is encouraged by the sales increase of 11.4% in the fourth quarter in Japan.
- Aflac is pleased with the 17.4% sales increase in the fourth quarter in the U.S.
- The company is committed to prudent liquidity and capital management.
- Aflac continues to generate strong investment results.
- The company remains in a defensive position as it monitors evolving economic conditions.
Challenges Ahead
- Pandemic conditions in Japan are gradually improving, but impacted operations throughout the year.
- The weaker yen/dollar exchange rate negatively impacted adjusted earnings per share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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