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Aflac results boosted by stronger yen

Jul. 28, 2016 4:56 PM ETAflac Incorporated (AFL) StockAFLBy: Stephen Alpher, SA News Editor1 Comment
  • Q2 operating earnings of $707M or $1.71 per share vs. $651M and $1.50 one year ago. This year's result was boosted by $0.09 per share from the stronger yen/dollar exchange rate.
  • 5.9M shares bought back during quarter for $400M, bring YTD buys to $1B. Another 32.3M shares remain in buyback authorization.
  • Book value per share of $54.98 up from $48.22 three months earlier. Operating ROE of 18% in Q2, or 15.5% excluding the impact of the yen.
  • CEO Daniel Amos: "I would remind you that the low interest rate environment continues to be challenging for investments, especially with negative interest rates in Japan, making it difficult to invest cash flows at attractive yields while maintaining a prudent risk tolerance."
  • CC tomorrow at 9 ET
  • Previously: AFLAC beats by $0.03, misses on revenue (July 28)
  • AFL flat after hours

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