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Mar 31, 2024
Genworth Q1 2024 Earnings Report
Genworth's Q1 2024 results were announced, featuring a solid performance driven by Enact and LTC earnings, along with strategic share repurchases and progress in LTC rate actions.
Key Takeaways
Genworth Financial reported a net income of $139 million and adjusted operating income of $85 million for Q1 2024. Enact's strong performance and LTC earnings contributed to the results, with strategic share repurchases and advancements in long-term care insurance rate actions also noted.
Executed $63 million in share repurchases during the quarter, bringing the total to $434 million through April 30, 2024.
Enact announced an increase to its quarterly dividend and a new share repurchase program authorized up to $250 million.
Continued progress on the LTC multi-year rate action plan with $41 million of gross incremental premium approvals.
CareScout expanded the CareScout Quality Network, enhancing long-term care provider standards.
Revenue by Segment
Forward Guidance
The company remains focused on executing its strategy and laying the foundation for long-term growth through CareScout.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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