Loading...
•
Mar 31, 2023
Genworth Q1 2023 Earnings Report
Genworth's financial performance reflected a mix of segment results and strategic execution.
Key Takeaways
Genworth Financial reported a net income of $62 million and an adjusted operating income of $84 million for Q1 2023. The company executed $68 million in share repurchases during the quarter and $182 million through April 2023. Enact's strong performance was a key driver, while LTC and Life and Annuities faced losses.
Net income reached $62 million, and adjusted operating income was $84 million.
Enact segment reported adjusted operating income of $143 million with a PMIERs sufficiency ratio of 164%.
Long-term care insurance's multi-year rate action plan achieved approximately $23.8 billion net present value from in-force rate actions since 2012.
The company executed $68 million in share repurchases during the quarter.
Forward Guidance
Genworth did not provide specific forward guidance in this earnings report.
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...