Summary
Aflac Incorporated reported solid financial results for the first quarter of 2019. Net earnings increased significantly to $928 million, or $1.23 per diluted share, compared to $717 million, or $0.91 per diluted share, in the same period of 2018. This growth was driven by an increase in net investment income and a favorable turn in realized investment gains/losses compared to the prior year. The company's balance sheet remains robust, with total assets growing to $145.7 billion. Investments, the largest asset category, increased to $131.4 billion, reflecting continued strategic asset allocation. Policy liabilities also saw a modest increase, indicating stable business operations. Aflac also continued its commitment to returning capital to shareholders, repurchasing $490 million of common stock and increasing its quarterly dividend per share.
Financial Highlights
33 data points| Revenue | $5.66B |
| SG&A Expenses | $719.00M |
| Operating Income | $1.14B |
| Interest Expense | $58.00M |
| Net Income | $928.00M |
| EPS (Basic) | $1.23 |
| EPS (Diluted) | $1.23 |
| Shares Outstanding (Basic) | 751.42M |
| Shares Outstanding (Diluted) | 755.79M |
Key Highlights
- 1Net earnings increased by 29.4% to $928 million for the three months ended March 31, 2019, compared to $717 million for the same period in 2018.
- 2Diluted earnings per share rose to $1.23 from $0.91 year-over-year.
- 3Total revenues grew to $5.66 billion, up from $5.46 billion in the prior year's first quarter.
- 4Net investment income increased to $878 million from $837 million.
- 5The company saw a significant positive swing in realized investment gains/losses, reporting $71 million in gains compared to $134 million in losses in the prior year.
- 6Aflac Incorporated repurchased $490 million of its common stock during the quarter.
- 7The quarterly dividend per share was increased to $0.27 from $0.26.