Aflac Incorporated (AFL) reported strong first-quarter 2024 results, supported by lower benefits and claims, operating expenses and higher investment income, signaling its effective investment strategies. Improving profit levels from both the Japan and U.S. operations were major tailwinds. However, premium sales figures decreased in both the segments. It reported first-quarter 2024 adjusted earnings per share of $1.66, which beat the Zacks Consensus Estimate by 5.1%. Also, the bottom line increased from $1. ...

财务数据和关键指标变化 - 调整后每股收益增长7.1%至1.66美元,受汇率影响为负0.08美元 [28] - 调整后每股账面价值增长8.7%,调整后净资产收益率为13.7% [29] 各条业务线数据和关键指标变化 日本业务 - 净保费收入下降6%,主要受到已缴清保单的7.2亿日元负面影响 [30] - 保单数下降2.3%,但保单续保率保持在93.4%的较高水平 [31] - 理赔率为67%,第三产业理赔率为57.5%,维持较好的承保经验 [31][32] - 费用率下降170个基点至18%,主要受到良好的费用控制和再保费用的影响 [34] - 投资收益增长19.3%,主要受益于对冲成本下降和外汇收益 [34][35] - 税前利润率达32.8%,同比提升460个基点 [36] 美国业务 - 净保费收入增长3.3%,保单续保率提升80个基点至78.7% [37][38] - 理赔率为46.5%,同比上升90个基点,主要受到产品组合变化和重估收益减少的影响 [37][38] - 费用率下降90个基点至38.7%,主要受到规模效应和获客成本下降的影响 [38][39] - 税前利润率为21%,维持较好的盈利水平 [40] 各个市场数据和关键指标变化 - 日本市场第三产业销售有所下滑,但公司预计将在第二季度实现反弹 [60][61][62][63][64][65][66] - 美国市场销售在第一季度有所下滑,主要受到产品组合和时间性因素的影响,但公司预计下半年将有所改善 [54][55][56][57][58][59] 公司战略和发展方向及行业竞争 - 公司在日本市场继续推进多元化分销渠道,包括代理人渠道、日本邮政渠道以及银行渠道,以满足客户的保险需求 [13][60][61][62][63][64][65][66] - 在美国市场,公司专注于提升承保纪律,避免承保一些不太盈利的业务,同时提升客户价值和保单续保率 [15][54][55][56][57][58][59] - 公司在日本市场面临较为激烈的竞争,尤其是医疗险产品,但公司将继续推出新产品以满足客户需求 [68][69][70][71][72][73][74] 管理层对经营环境和未来前景的评论 - 管理层认为公司在日本和美国两大市场仍有较大的增长潜力,并将继续保持谨慎的资本和流动性管理 [20][21][22][23][24][26] - 管理层对公司未来的销售目标和盈利能力保持信心,并将继续优化分销渠道和产品组合以提升客户价值 [14][17][19] 问答环节重要的提问和回答 问题1 **Elyse Greenspan 提问** 美国市场销售在第一季度有所下滑,但公司维持了长期销售目标,未来销售趋势如何? [53] **Virgil Miller 回答** 公司将继续专注于提升承保纪律和盈利能力,同时也将在下半年推动销售增长,尤其是在团险和直销业务方面 [54][55][56][57][58][59] 问题2 **Tom Gallagher 提问** 日本市场销售下滑是否属于行业性问题,还是公司自身的问题? [68] **Masatoshi Koide 和 Koichiro Yoshizumi 回答** 日本市场竞争日趋激烈,公司将通过推出新产品、优化分销渠道、提升销售人员效率等措施来应对,并保持对长期销售目标的信心 [69][70][71][72][73][74][75][76] 问题3 **Josh Shanker 提问** 最近日元大幅波动,对公司的对冲成本有何影响? [101][102][103][104] **Max Broden 回答** 公司采取了多重措施来应对汇率波动,包括持有美元资产、发行日元债券以及外汇远期合约等,整体对冲效果良好 [103][104][105][106][107][108][109][110]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-07434 Aflac Incorporated ______________________________________________________________________________________________________ ...

Aflac (AFL) reported $5.44 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 13.3%. EPS of $1.66 for the same period compares to $1.55 a year ago. The reported revenue represents a surprise of +25.94% over the Zacks Consensus Estimate of $4.32 billion. With the consensus EPS estimate being $1.58, the EPS surprise was +5.06%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expe ...

Aflac (AFL) came out with quarterly earnings of $1.66 per share, beating the Zacks Consensus Estimate of $1.58 per share. This compares to earnings of $1.55 per share a year ago. These figures are adjusted for non- recurring items. This quarterly report represents an earnings surprise of 5.06%. A quarter ago, it was expected that this insurer would post earnings of $1.47 per share when it actually produced earnings of $1.25, delivering a surprise of -14.97%. Over the last four quarters, the company has surp ...

FINAL 5/1/2024 Financial Supplement First Quarter 2024 This document is a statistical supplement to Aflac’s quarterly earnings release. Throughout the presentation, amounts presented may not foot due to rounding. As you review the supplement, please note the non-U.S. GAAP financial measures and definitions found at the back of this document. The Company adopted the Financial Accounting Standards Board’s Accounting Standard Update 2018-12 Financial Services - Insurance: Targeted Improvements to the Accountin ...

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments. Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a m ...

Investors are always looking for stocks that are poised to beat at earnings season and Aflac Incorporated (AFL) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report. That is because Aflac is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to- date information possible — is a pretty good ind ...

Aflac Incorporated (AFL) is scheduled to release first-quarter 2024 results on May 1, 2024, after the closing bell. Net premiums earned derived from growing cancer insurance sales coupled with cost-cutting initiatives, partly offset by the impact of paid-up policies, are expected to shape its quarterly results. Q1 Estimates The Zacks Consensus Estimate for Aflac’s first-quarter earnings per share is pegged at $1.58, which implies a 1.9% rise from the year-ago quarter’s reported figure. The consensus mark fo ...

Wall Street analysts forecast that Aflac (AFL) will report quarterly earnings of $1.58 per share in its upcoming release, pointing to a year-over-year increase of 1.9%. It is anticipated that revenues will amount to $4.32 billion, exhibiting a decline of 10.1% compared to the year-ago quarter. The consensus EPS estimate for the quarter has undergone an upward revision of 0.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their i ...