Aflac

Q4 Results Q/Q Comparison:

  • Revenues decreased 3.5% to $5.3B (reflecting weaker yen/dollar exchange rate)
  • GAAP Diluted EPS increased 8.9% to $1.71
  • GAAP Net income increased 3.9% to $730M
  • Operating Earnings increased 15.1% to $668M (excludes investments, hedging, and nonrecurring items)
  • Operating EPS increased 20.9% to $1.56
    • Yen/Dollar exchange rate decreased earnings $.05/share
  • Operating EPS excluding yen impact increased 24.8%
  • Aflac Japan results (excluding foreign currency):
    • Total Revenues increased 0.4%
    • Operating Earnings increased 11.7%
    • Operating margin of 22.3%, up from 20.1%
    • Premiums increased 0.3%
    • Net Investment income increased 1.0%
  • Aflac US results:
    • Total Revenues increased 2.7% to $1.5B
    • Operating Earnings increased 18.3% to $237M
    • Operating margin of 15.8%, up from 13.7%
    • Premium Income increased 2.3% to $1.3B
    • Net Investment income increased 5.6% to $171M
  • Return on equity of 16.9% (19.4% excluding the impact of the yen)
  • Repurchased 3.8 million shares for $234M (average price of $61.58)

Full-year 2015:

  • Revenues decreased 8.2% to $20.9B (reflecting weaker yen/dollar exchange rate)
  • GAAP Diluted EPS decreased 10.0% to $5.85
  • GAAP Net income decreased 14.2% to $2.53B
  • Operating Earnings decreased 4.5% to $2.67B (excludes investments, hedging, and nonrecurring items)
  • Operating EPS were flat at $6.16
    • Yen/Dollar exchange rate decreased earnings $.46/share
  • Operating EPS excluding yen impact increased 7.5%
  • Book value increased 28% to $18.7B
    • Book value per share decreased 1.2% to $40.96
  • Return on equity of 20.4% (excluding the impact of the yen)
  • Repurchased 21.2 million shares for $1.3B (average price of $61.32)

Stock Price: $57
Market Capitalization: $24 billion

February 1, 2016

 

 

 


 


 

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