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More on Aflac earnings

  • Aflac (AFL) operating earnings of $759M or $1.62/share up a hair from a year ago. Excluding effect of weaker yen, which cost a $0.22 hit for the 2nd straight quarter, operating earnings gained 14.2% Y/Y
  • About 2.3M shares repurchased for approximately $129M; 17.2M shares remain under repurchase authorization.
  • Book value of $29.46 down 11.6% from March 31 thanks to marks on securities portfolio. Operating ROE of 22.1%.
  • Japan: In yen terms, premium income up 8.6%, total revenue up 10%., operating margin up 190 bps to 21.5%.
  • U.S.: Premium income up 3.5%, total revenue up 3.4%, net investment income up 3.1%. Operating margin up 120 bps to 19.5%.
  • Outlook: Continue to see weak hiring, particularly at smaller employers where 90% of Aflac business is written ... working hard to achieve annual sales target. Plans to up allocation to JGBs and cut exposure to U.S. corporate bonds. Q3 will offer difficult Y/Y comparison - expects EPS of $1.41-$1.51.
  • Earnings report earlier
  • Shares -0.2% AH.
Comments (2)
  • murphbladh
    , contributor
    Comments (8) | Send Message
     
    I do not believe the dividend was raised. Aflac has been paying $0.35 per share since declaring on 10/23/2012?
    30 Jul 2013, 04:57 PM Reply Like
  • Exquisite Decay
    , contributor
    Comments (173) | Send Message
     
    Not expecting dividend raise at this time; that usually comes in late October with payment at start of December.
    30 Jul 2013, 06:30 PM Reply Like
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