Summary
Aflac Incorporated reported a strong first quarter for 2026, with net earnings reaching $1.0 billion, a significant increase from $29 million in the prior year's first quarter. This substantial growth was primarily driven by a rebound in investment performance, with net investment gains of $49 million compared to net investment losses of $963 million in Q1 2025. The company's total revenues also saw a notable increase to $4.3 billion, up from $3.4 billion year-over-year, largely due to these improved investment results. Operationally, adjusted earnings were $901 million, slightly down from $906 million in the prior year, reflecting the impact of a weaker yen on Aflac Japan's results. The company continued its capital return program, repurchasing $1.0 billion in common stock during the quarter. Shareholders' equity grew to $30.0 billion, and the company maintained a strong capital position, demonstrating resilience and effective management across its core insurance businesses in Japan and the U.S.
Financial Highlights
31 data points| Revenue | $4.35B |
| SG&A Expenses | $771.00M |
| Operating Expenses | $1.29B |
| Interest Expense | $59.00M |
| Net Income | $1.02B |
| EPS (Basic) | $1.99 |
| EPS (Diluted) | $1.98 |
| Shares Outstanding (Basic) | 513.07M |
| Shares Outstanding (Diluted) | 514.78M |
Key Highlights
- 1Net earnings surged to $1.0 billion ($1.98/share diluted) from $29 million ($0.05/share diluted) in the prior year, primarily due to improved investment income.
- 2Total revenues increased to $4.3 billion from $3.4 billion year-over-year, driven by a swing from net investment losses to gains.
- 3Adjusted earnings were $901 million ($1.75/share diluted), a slight decrease from $906 million ($1.66/share diluted) in Q1 2025, impacted by foreign currency translation effects.
- 4Aflac Japan's pretax adjusted earnings increased 5.1% to $759 million, despite a 6.4% decrease in net earned premiums, driven by improved investment income and lower benefits and claims.
- 5Aflac U.S. saw its pretax adjusted earnings increase 1.4% to $363 million, supported by growth in net earned premiums and adjusted net investment income.
- 6The company repurchased $1.0 billion of its common stock in the first quarter of 2026, underscoring its commitment to returning capital to shareholders.
- 7Shareholders' equity increased to $30.0 billion from $29.5 billion at year-end 2025, reflecting strong earnings and a positive impact from changes in discount rate assumptions on insurance reserves.