Forward-Looking Statements and Non-GAAP Financial Measures The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" to encourage companies to provide prospective information, so long as those informational statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those included in the forward-looking statements. The company desires to take advantage of these ...

Aflac Incorporated (NYSE:AFL) Q4 2024 Earnings Conference Call February 6, 2025 8:00 AM ET Company Participants David Young - VP, Capital Markets Dan Amos - Chairman & CEO Max Broden - SEVP & CFO Virgil Miller - President, Aflac U.S. Masatoshi Koide - President, Aflac Life Insurance Japan Koichiro Yoshizumi - EVP, Sales & Marketing, Aflac Life Insurance Japan Bradley Dyslin - Global CIO & President, Aflac Global Investments Conference Call Participants Joel Hurwitz - Dowling & Partners Jimmy Bhullar - J.P. ...

Core Viewpoint - Aflac reported strong revenue growth in Q4 2024, achieving $5.4 billion, but fell short on earnings per share, which were $1.56 compared to the expected $1.62 [2][3] Financial Performance - Adjusted EPS for Q4 2024 was $1.56, missing estimates by 3.7%, but showed a year-over-year increase of 24.8% from $1.25 [3] - Total revenue reached $5.4 billion, exceeding expectations by 28.6% and reflecting a 43.1% increase from $3.8 billion in Q4 2023 [3] - Net earnings surged to $1.9 billion, a significant increase of 609.7% from $268 million in the previous year [3] - Adjusted earnings rose 18.2% year-over-year to $865 million [3] Business Overview - Aflac is a leading supplemental insurance provider in the U.S. and Japan, focusing on life, cancer, and health insurance products [4] - The Japanese market is crucial for Aflac, significantly contributing to overall earnings [4] Strategic Focus - Recent initiatives include leveraging distribution capabilities and enhancing product offerings to meet evolving customer preferences [5] - Key success factors involve effective product development, maximizing market penetration, and navigating regulatory landscapes in both the U.S. and Japan [5] Quarterly Highlights - Net earnings increased significantly due to robust investment gains of $1.0 billion [6] - In Japan, new annualized premiums grew by 9.0%, driven by the Tsumitasu product, although currency effects led to decreased net earned premiums [6] - The average yen/dollar exchange rate weakened to 152.35, impacting earnings by $0.01 per share [6] - In the U.S., net earned premiums rose modestly by 2.7%, while sales declined by 4.5% due to a focus on profitability [7] - Shareholders' equity increased to $26.1 billion, an 18.7% year-over-year rise [7] Future Outlook - Management emphasizes a strategy focused on sustainable growth and long-term shareholder value [9] - Initiatives include a 16% dividend increase and $750 million allocated for share repurchases [9] - Investors are advised to monitor Aflac's adaptability to currency fluctuations and regulatory developments, especially in Japan [9]

Core Insights - Aflac reported revenue of $4.31 billion for the quarter ended December 2024, reflecting a 14.2% increase year-over-year, but fell short of the Zacks Consensus Estimate by 2.74% [1] - The company's EPS was $1.56, up from $1.25 in the same quarter last year, but also missed the consensus estimate of $1.62 by 3.70% [1] Financial Performance Metrics - Aflac's total adjusted revenues for the U.S. segment were $1.67 billion, below the average estimate of $1.71 billion, representing a 2% increase year-over-year [4] - Total adjusted revenues for Aflac Japan were $2.36 billion, missing the average estimate of $2.46 billion, indicating a 5.6% decline year-over-year [4] - Total net earned premiums for Aflac U.S. were reported at $1.44 billion, compared to the average estimate of $1.48 billion, showing a year-over-year increase of 2.7% [4] - Net investment income was $1.02 billion, exceeding the average estimate of $962.60 million, with a year-over-year growth of 17.5% [4] - Other income for Aflac Japan was $8 million, slightly above the average estimate of $7.02 million, with no change year-over-year [4] - Revenues from other income (loss) were reported at $24 million, below the average estimate of $33.22 million, reflecting a 36.8% decline year-over-year [4] - Corporate and other revenues reached $284 million, surpassing the average estimate of $236 million, marking a significant increase of 273.7% year-over-year [4] Stock Performance - Aflac's shares have returned +3.8% over the past month, outperforming the Zacks S&P 500 composite's +1.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Core Viewpoint - Aflac reported quarterly earnings of $1.56 per share, missing the Zacks Consensus Estimate of $1.62 per share, but showing an increase from $1.25 per share a year ago, indicating a -3.70% earnings surprise [1] - The company posted revenues of $4.31 billion for the quarter, missing the Zacks Consensus Estimate by 2.74%, and up from $3.78 billion year-over-year [2] Earnings Performance - Over the last four quarters, Aflac has surpassed consensus EPS estimates three times [2] - The company had a significant earnings surprise of 27.06% in the previous quarter, where it reported earnings of $2.16 per share against an expectation of $1.70 [1][2] Stock Performance - Aflac shares have increased by approximately 3.2% since the beginning of the year, outperforming the S&P 500's gain of 2.7% [3] - The current Zacks Rank for Aflac is 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.71 on revenues of $4.39 billion, and for the current fiscal year, it is $7 on revenues of $17.52 billion [7] - The outlook for the industry, particularly the Insurance - Accident and Health sector, is favorable, ranking in the top 11% of over 250 Zacks industries [8] Industry Context - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that investors should monitor these revisions closely [5] - Trupanion, another company in the same industry, is expected to report quarterly earnings of $0.06 per share, reflecting a year-over-year change of +220%, with revenues projected at $335.69 million, up 13.5% from the previous year [9][10]

Financial Performance - Aflac Japan's adjusted earnings for Q4 2024 were $747 million, a decrease of 1.1% compared to Q4 2023's $755 million[9]. - Aflac U.S. reported adjusted earnings of $330 million for Q4 2024, reflecting a 9.3% increase from $302 million in Q4 2023[9]. - Total pretax adjusted earnings for the company in Q4 2024 were $1,073 million, a significant increase of 45.2% from $739 million in Q4 2023[9]. - Net earnings for the full year 2024 reached $5,443 million, representing a 16.8% increase from $4,659 million in 2023[9]. - The diluted earnings per share for Q4 2024 was $7.78, up 23.8% from $6.28 in Q4 2023[9]. - Aflac's total adjusted earnings for the full year 2024 were $4,072 million, a 9.1% increase from $3,733 million in 2023[9]. - The effective tax rate for the company in 2024 was 15.2%, compared to 11.5% in 2023[9]. - Net earnings for 2023 were $4,659 million, reflecting a 16.8% increase from $5,443 million projected for 2024[10]. - The company reported a pretax earnings increase of 8.1% to $5,262 million in 2023 from $4,869 million in 2022[10]. - The company anticipates an adjusted EPS of $7.21 for 2024, indicating a projected growth of 15.7%[29]. Revenue and Premiums - Aflac Japan's total revenue for 2024 was $3,494 million, an 8.0% increase from $3,234 million in 2023[9]. - Aflac U.S. total revenue for 2024 was $1,419 million, a decrease of 5.5% from $1,501 million in 2023[9]. - Total net earned premiums decreased by 1.6% to $14,123 million in 2023 from $14,318 million in 2022[10]. - Total revenues for 2023 were $18,701 million, a slight increase of 1.2% from $18,927 million in 2024[10]. - Total net earned premiums for 2023 increased by 2.7% to $5,675 million compared to 2022[54]. - Total annualized premium in force for Aflac U.S. increased by 3.3% to $6,161 million in 2023 compared to $5,967 million in 2022[65]. - New annualized premium sales for Aflac U.S. reached $1,558 million in 2023, reflecting a 5.0% increase from $1,483 million in 2022[65]. - Total net earned premiums for Aflac Japan decreased by 8.2% year-over-year to $8,047 million for 2023, with a forecasted decline of 13.9% to $6,930 million for 2024[72]. Investment Income - Net investment income increased by 17.5% to $3,811 million in 2023 compared to $3,656 million in 2022[10]. - The company experienced a 4.5% increase in net investment income, reaching $5,262 billion in 2023[19]. - Adjusted net investment income rose by 8.6% to $820 million in 2023, with a projected increase of 3.3% to $847 million in 2024[54]. - Adjusted net investment income for 2023 was $44 million, a 212.5% increase from the previous year[91]. Expenses and Claims - Total net benefits and claims decreased by 8.6% to $8,211 million in 2023 from $8,594 million in 2022[10]. - Total benefits and claims, net, decreased by 4.9% to $2,431 million in 2023, with a forecasted increase of 12.1% to $2,726 million in 2024[54]. - Total adjusted expenses for 2023 were $2,691 million, up 4.6% from 2022, with a projected decrease of 3.6% to $2,594 million in 2024[54]. - Total benefits and claims, net for Aflac Japan decreased by 7.6% year-over-year to $5,313 million for 2023, with a projected decline of 18.7% to $4,317 million for 2024[72]. Assets and Equity - The total assets decreased to $126,724 million in 2023 from $131,738 million in 2022[16]. - Shareholders' equity increased to $21,985 million in 2023 from $20,140 million in 2022[16]. - The company reported a total asset value of $21,861 million in 2023, with a slight increase to $21,930 million projected for 2024[56]. - Total shareholders' equity increased to $26,098 million in 2024, up from $21,985 million in 2023, reflecting a growth of approximately 18.5%[45]. Market and Sales Strategy - The company plans to continue focusing on market expansion and new product development to drive future growth[54]. - Aflac U.S. anticipates a 3.6% increase in total annualized premium in force to $6,383 million in 2024[65]. - The company plans to enhance its product mix, focusing on critical illness and hospital intensive care products to drive future growth[69]. - Aflac Japan's sales force data indicates a strategic focus on enhancing sales in the cancer insurance segment[86]. Currency and Foreign Exchange - The impact of foreign currency on adjusted earnings was a decrease of $0.19 in 2023, highlighting the sensitivity to currency fluctuations[29]. - The yen/dollar exchange rate for 2023 was 141.83, a 7.4% decrease compared to the previous year[89]. - Adjusted earnings per diluted share for 2023 were significantly impacted by foreign currency fluctuations, with a focus on the yen's performance[100]. - The company plans to continue monitoring the impact of foreign currency translation on its financial performance, particularly in relation to its operations in Japan[94].

COLUMBUS, Ga., Feb. 5, 2025 /PRNewswire/ -- Aflac Incorporated (NYSE: AFL) today reported its fourth quarter results.Total revenues were $5.4 billion in the fourth quarter of 2024, compared with $3.8 billion in the fourth quarter of 2023. Net earnings were $1.9 billion, or $3.42 per diluted share, compared with $268 million, or $0.46 per diluted share a year ago.Net earnings in the fourth quarter of 2024 included net investment gains of $1.0 billion, or $1.86 per diluted share, compared with net investment ...

COLUMBUS, Ga., Feb. 4, 2025 /PRNewswire/ -- Aflac Incorporated (NYSE: AFL) announced today that Aflac Incorporated Chairman and CEO Daniel P. Amos will present at the Bank of America Securities 2025 Financial Services Conference on February 12, 2025 at 10:30 a.m. ET.The presentation will be webcast live. Please click on the link that follows for the webcast at least 15 minutes prior to the presentation to download and install any necessary software.https://bofa.veracast.com/webcasts/bofa/financialservices20 ...

Aflac Incorporated (AFL) is scheduled to report fourth-quarter 2024 results on Feb. 5, after the closing bell. The Zacks Consensus Estimate for earnings per share is pegged at $1.63, which indicates 30.4% growth from the prior-year quarter’s reported number. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Fourth-quarter earnings estimates have been revised downward in the past 60 days. Meanwhile, the Zacks Consensus Estimate for revenues is pegged at $4.4 billion, indicating 17.4% g ...

Wall Street analysts forecast that Aflac (AFL) will report quarterly earnings of $1.63 per share in its upcoming release, pointing to a year-over-year increase of 30.4%. It is anticipated that revenues will amount to $4.44 billion, exhibiting an increase of 17.4% compared to the year-ago quarter.The current level reflects an upward revision of 0.3% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their in ...