Summary
Aflac Incorporated reported a significant turnaround in its third quarter of 2025 compared to the same period in 2024. Total revenues increased to $4.7 billion from $2.9 billion, largely driven by a swing from net investment losses of $1.4 billion in Q3 2024 to net investment gains of $275 million in Q3 2025. This resulted in a net earning of $1.6 billion, or $3.08 per diluted share, a substantial improvement from a net loss of $93 million, or $(0.17) per diluted share, in the prior year's quarter. For the nine months ended September 30, 2025, total revenues were $12.3 billion, down from $13.5 billion in the prior year, primarily due to net investment losses of $1.1 billion in 2025 compared to net investment gains of $239 million in 2024. Consequently, net earnings for the nine-month period decreased to $2.3 billion, or $4.21 per diluted share, from $3.5 billion, or $6.23 per diluted share, in the same period of 2024. The company's adjusted earnings, which exclude certain volatile items, showed more stable performance, with Q3 2025 adjusted earnings at $1.3 billion ($2.49 per diluted share) compared to $1.2 billion ($2.16 per diluted share) in Q3 2024. The company continued its share repurchase program, buying back $2.7 billion of stock in the first nine months of 2025, and maintained a strong shareholder equity position.
Financial Highlights
31 data points| Revenue | $4.74B |
| SG&A Expenses | $781.00M |
| Operating Expenses | $1.31B |
| Interest Expense | $56.00M |
| Net Income | $1.64B |
| EPS (Basic) | $3.09 |
| EPS (Diluted) | $3.08 |
| Shares Outstanding (Basic) | 530.05M |
| Shares Outstanding (Diluted) | 532.01M |
Key Highlights
- 1Net earnings swung from a loss of $93 million in Q3 2024 to a profit of $1.6 billion in Q3 2025, driven by a significant improvement in net investment results.
- 2Total revenues increased to $4.7 billion in Q3 2025 from $2.9 billion in Q3 2024.
- 3Adjusted earnings for Q3 2025 were $1.3 billion ($2.49 per diluted share), an increase from $1.2 billion ($2.16 per diluted share) in Q3 2024, demonstrating operational stability.
- 4For the nine months ended September 30, 2025, net earnings were $2.3 billion ($4.21 per diluted share), down from $3.5 billion ($6.23 per diluted share) in the comparable period of 2024, primarily due to lower net investment results.
- 5Aflac repurchased $2.7 billion of its common stock in the first nine months of 2025 and has remaining authorization for approximately 121.6 million shares.
- 6Shareholder equity stood at $28.7 billion ($54.57 per share) as of September 30, 2025, showing growth from $26.1 billion ($47.45 per share) at year-end 2024.
- 7The company reported an incident of unauthorized network access in the U.S. in June 2025, but as of the filing date, it does not believe it will have a material impact on financial condition or results of operations.