NYSE$AFL
Aflac Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Aflac reported Q3 2022 results with net earnings of $1.6 billion.
Aflac Incorporated reported third quarter net earnings of $1.6 billion, or $2.53 per diluted share, compared to $888 million, or $1.32 per diluted share a year ago. Total revenues were $4.8 billion, compared with $5.2 billion in the third quarter of 2021.
- Total revenues were $4.8 billion, compared with $5.2 billion in the third quarter of 2021.
- Net earnings were $1.6 billion, or $2.53 per diluted share, compared with $888 million, or $1.32 per diluted share a year ago, reflecting a release of $695 million in deferred taxes in the third quarter.
- Adjusted earnings in the third quarter were $725 million, compared with $1.0 billion in the third quarter of 2021, reflecting a decrease of 29.7%.
- Aflac U.S. sales increased 11.8% in the quarter to $334 million, reflecting continued improvement from investment in growth initiatives as well as productivity gains.
Headline financials
Revenue & EPS history
Aflac · Revenue · Quarterly
$4.82B
Revenue by segment
Aflac · $5.07B total across 3 segments · Q1 2022
- Aflac Japan Revenue$3.4B—67.0%
- Aflac U.S. Revenue$1.6B—31.5%
- Corporate and Other Revenue$74M-10.8%1.5%
Forward guidance
Aflac expects sales to improve in the fourth quarter, with sales growth in both Japan and the U.S. segments.
Tailwinds
- Pandemic conditions in Japan and the U.S. continued to move toward normalcy, contributing to positive sales growth in both segments in the third quarter and momentum into the fourth quarter.
- Sales continued to improve in the quarter with the launch of new cancer insurance product through agencies in August, generating an increase of 10.2% in Japan.
- Persistency remained strong in the third quarter in Japan.
- Benefit ratio will normalize in the fourth quarter given the narrowed scope for deemed hospitalization introduced toward the end of the third quarter in Japan.
- Continued improvement in the productivity of agents and brokers as we enter what is typically our strongest quarter of the year in the U.S.
Headwinds
- The company generated solid earnings for the first nine months, despite the weakening yen.
- We continue to monitor evolving pandemic conditions, as this impacts our ability to meet face-to-face with customers, which continues to be key to a recovery in sales.
- We continue to expect stronger sales in the fourth quarter, assuming that productivity continues to improve at Japan Post and that we execute on our product introduction and refreshment plans.
- We continue to work toward reinforcing our leading position and generating stronger sales for the fourth quarter.
- We continue to generate strong investment results while remaining in a defensive position as we monitor evolving economic conditions.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
+0.6%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+1.7%
Avg return
30 days after
63%
46 / 73 earnings
Positive
+9.4%
Q1 2012
Best reaction
-11.1%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.6% | -1.5% | -3.3% | |
| Q4 2025 | +3.4% | +2.0% | -2.1% | |
| Q3 2025 | +2.3% | +4.4% | +0.4% | |
| Q2 2025 | +3.4% | +5.3% | +8.1% | |
| Q1 2025 | -4.7% | -2.6% | -4.7% | |
| Q4 2024 | -3.9% | -4.0% | +1.0% | |
| Q3 2024 | -4.7% | -5.0% | +3.6% | |
| Q2 2024 | +6.6% | +1.9% | +15.7% | |
| Q1 2024 | +0.5% | +1.3% | +7.4% | |
| Q4 2023 | -11.1% | -11.0% | -6.2% | |
| Q3 2023 | +4.6% | +4.2% | +5.8% | |
| Q2 2023 | +5.4% | +6.2% | +3.1% | |
| Q1 2023 | +5.6% | +7.0% | -1.9% | |
| Q4 2022 | -6.3% | -5.3% | -6.9% | |
| Q3 2022 | +3.1% | +3.7% | +11.0% | |
| Q2 2022 | +2.5% | +3.7% | +3.7% | |
| Q1 2022 | -2.5% | -5.7% | -0.6% | |
| Q4 2021 | +1.4% | +3.8% | -4.4% | |
| Q3 2021 | -3.1% | -4.0% | -2.7% | |
| Q2 2021 | +3.4% | +1.7% | +6.1% | |
| Q1 2021 | +1.3% | +1.8% | +5.9% | |
| Q4 2020 | -1.2% | -0.1% | +7.9% | |
| Q3 2020 | -7.1% | -7.7% | +24.0% | |
| Q2 2020 | +0.2% | -2.4% | +1.2% | |
| Q1 2020 | -1.5% | -5.4% | -3.5% | |
| Q4 2019 | +2.4% | +1.8% | -20.1% | |
| Q3 2019 | +1.5% | +2.1% | +2.9% | |
| Q2 2019 | -0.1% | -1.9% | -10.3% | |
| Q1 2019 | +1.3% | +3.0% | +6.4% | |
| Q4 2018 | +1.2% | +1.8% | +3.8% | |
| Q3 2018 | -4.7% | -4.5% | +0.5% | |
| Q2 2018 | +5.8% | +6.3% | +6.6% | |
| Q1 2018 | +1.1% | +0.9% | +0.4% | |
| Q4 2017 | +1.3% | -2.7% | -1.2% | |
| Q3 2017 | -1.1% | -0.9% | +0.5% | |
| Q2 2017 | +2.6% | +4.6% | +4.6% | |
| Q1 2017 | +0.1% | +0.3% | +0.1% | |
| Q4 2016 | -4.5% | -2.5% | +2.6% | |
| Q3 2016 | -1.8% | -2.0% | +2.8% | |
| Q2 2016 | -1.5% | -2.4% | -0.8% | |
| Q1 2016 | +2.1% | — | — | |
| Q4 2015 | -1.2% | — | — | |
| Q3 2015 | +0.7% | — | — | |
| Q2 2015 | +4.9% | — | — | |
| Q1 2015 | -0.2% | — | — | |
| Q4 2014 | +4.3% | — | — | |
| Q3 2014 | +1.9% | — | — | |
| Q2 2014 | -3.6% | — | — | |
| Q1 2014 | +1.4% | — | — | |
| Q4 2013 | +1.7% | — | — | |
| Q3 2013 | -2.2% | — | — | |
| Q2 2013 | +1.1% | — | — | |
| Q1 2013 | +3.7% | — | — | |
| Q4 2012 | -3.2% | — | — | |
| Q3 2012 | -1.5% | — | — | |
| Q4 2011 | +4.2% | — | — | |
| Q2 2012 | -2.7% | — | — | |
| Q1 2012 | +9.4% | — | — | |
| Q3 2011 | -0.1% | — | — | |
| Q2 2011 | -10.8% | — | — | |
| Q1 2011 | +1.9% | — | — | |
| Q4 2010 | +2.9% | — | — | |
| Q3 2010 | -1.2% | — | — | |
| Q2 2010 | +0.3% | — | — | |
| Q1 2009 | +7.5% | — | — | |
| Q1 2010 | +1.8% | — | — | |
| Q4 2007 | +1.7% | — | — | |
| Q4 2009 | +1.7% | — | — | |
| Q3 2009 | +3.1% | — | — | |
| Q3 2008 | +3.1% | — | — | |
| Q2 2008 | +2.9% | — | — | |
| Q4 2008 | +2.9% | — | — | |
| Q2 2009 | +2.9% | — | — |
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