NYSE$AFL
Aflac Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Aflac reported a decrease in net earnings for Q4 2022, impacted by foreign exchange-related net investment losses.
Aflac's Q4 2022 total revenues were $4.0 billion, compared to $5.4 billion in Q4 2021. Net earnings were $185 million, or $0.30 per diluted share, compared to $1.0 billion, or $1.57 per diluted share a year ago. Adjusted earnings were $806 million, compared to $850 million in Q4 2021. Adjusted earnings per diluted share increased 0.8% to $1.29 in the quarter.
- Total revenues for Q4 2022 were $4.0 billion, a decrease from $5.4 billion in Q4 2021.
- Net earnings for Q4 2022 were $185 million, or $0.30 per diluted share, a significant decrease from $1.0 billion, or $1.57 per diluted share a year ago, mainly due to foreign exchange-related net investment losses.
- Adjusted earnings for Q4 2022 were $806 million, a decrease of 5.2% from $850 million in Q4 2021.
- Aflac U.S. sales increased 17.4% in the quarter, while Aflac Japan sales increased 11.4%.
Headline financials
Revenue & EPS history
Aflac · Revenue · Quarterly
$4.01B
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 is encouraged by the sales increase of 11.4% in the fourth quarter in Japan and 17.4% in the U.S., reflecting a new cancer product launch and first sector product updates. The company is committed to prudent liquidity and capital management and continues to generate strong investment results while remaining in a defensive position as it monitors evolving economic conditions.
Tailwinds
- Aflac is encouraged by the sales increase of 11.4% in the fourth quarter in Japan.
- Aflac is pleased with the 17.4% sales increase in the fourth quarter in the U.S.
- The company is committed to prudent liquidity and capital management.
- Aflac continues to generate strong investment results.
- The company remains in a defensive position as it monitors evolving economic conditions.
Headwinds
- Pandemic conditions in Japan are gradually improving, but impacted operations throughout the year.
- The weaker yen/dollar exchange rate negatively impacted adjusted earnings per share.
- The decline in the portfolio is principally driven by the weaker yen and higher interest rates.
- Net earnings in the fourth quarter of 2022 included net investment losses of $521 million.
- Adjusted earnings included a variable investment income loss of $21 million from alternative investments.
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 Q4 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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