Aflac

Q1 Results Q/Q Comparison:

  • Revenues increased 4% to $5.5B (reflecting stronger yen/dollar exchange rate)
  • GAAP Diluted EPS increased 15% to $1.74
  • GAAP Net income increased 10% to $731M
  • Operating Earnings increased 7% to $726M (excludes investments, hedging, and nonrecurring items)
  • Operating EPS increased 12% to $1.73
    • Yen/Dollar exchange rate increased earnings $.03/share
  • Operating EPS excluding yen impact increased 10%
  • Book value per share increased 12% to $48.22
  • Aflac Japan results (excluding foreign currency):
    • Total Revenues increased 3.0%
    • Operating Earnings were flat
    • Operating margin of 22.0%, compared to 22.1%
    • Premium income increased 0.1%
    • Net Investment income decreased 1.7%
  • Aflac US results:
    • Total Revenues increased 2.3% to $1.5B
    • Operating Earnings increased 16.6% to $332M
    • Operating margin of 21.5%, up from 18.9%
    • Premium Income increased 2.1% to $1.4B
    • Net Investment income increased 5.1% to $174M
  • Return on equity of 16% (19% excluding the impact of the yen)
  • Repurchased 10.2 million shares for $600M; plans to buy back $1.4B in 2016 (retired 4% of outstanding shares in the last twelve months)
  • Reiterated 2016 operating EPS guidance of $6.17 to $6.41, assuming average yen exchange rate of 120.99; at current yen exchange rates (111.49) 2016 operating EPS would be $6.49 to $6.73

Stock Price: $69
Market Capitalization: $29 billion

April 26, 2016

 

 

 


 


 

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