Aflac Q2 Net Earnings Surge 38% to $825M, Declares Dividend
AFL sits 28% above its 52-week low of $97.47.
Summary
Aflac reported Q2 net earnings of $825 million, up 38% from $599 million a year ago, driven by smaller investment losses. Adjusted earnings fell 7.7% to $883 million, with adjusted EPS down 1.7% to $1.75, missing the year-ago $1.78 and analyst estimates, as the weaker yen shaved $0.05 off adjusted EPS. The company returned $1.3 billion to shareholders via $983 million in buybacks and $309 million in dividends, and declared a third quarter dividend. This follows a $500 million debt offering in May and a data breach at the Japan unit in June. The strong capital return and net income beat are tempered by the adjusted earnings decline and yen headwinds.
At the time of this announcement, AFL was trading at $124.38 on NYSE in the Finance sector, with a market capitalization of approximately $64.5B. The 52-week trading range was $97.47 to $130.22. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: PR Newswire.