NYSE$GNW
Genworth Financial Inc · Q4 2019 earnings
Q4 2019 earnings · · Investor relations
Briefing
Genworth's Q4 2019 results showed a net loss of $17 million and adjusted operating income of $24 million.
Genworth Financial reported a net loss of $17 million for the fourth quarter of 2019, compared to a net loss of $329 million in the same period of 2018. Adjusted operating income was $24 million, a significant improvement from the adjusted operating loss of $305 million in the prior year quarter. The company's U.S. mortgage insurance business performed strongly, while the U.S. life insurance segment continued to face challenges.
- Net loss for Q4 2019 was $17 million, an improvement from the $329 million loss in Q4 2018.
- Adjusted operating income for Q4 2019 was $24 million, compared to an adjusted operating loss of $305 million in Q4 2018.
- Completed the sale of Genworth's majority interest in Genworth MI Canada Inc. for approximately $1.8 billion net proceeds.
- Merger agreement with China Oceanwide Holdings Group Co., Ltd extended to not later than March 31, 2020.
Headline financials
Revenue & EPS history
Genworth · Revenue · Quarterly
$2.04B
Forward guidance
Genworth and Oceanwide are continuing discussions with regulators to secure reapproval of their transaction, but will consider other alternatives if an agreement cannot be reached.
Tailwinds
- Genworth delivered strong operating performance in 2019, driven by outstanding results in our U.S. mortgage insurance business.
- We continued to execute against our strategic priorities, including reducing debt, strengthening our balance sheet and executing our LTC multi-year rate action plan, which is critical to stabilizing our U.S. life insurance business.
- Oceanwide remains fully committed to the transaction with Genworth, subject to the receipt of the required regulatory approvals and clearances.
- We look forward to the successful completion of the transaction.
- The parties anticipate being able to meet these conditions.
Headwinds
- The 13th waiver also provides termination rights for Oceanwide to the extent that regulators subsequently impose materially adverse conditions on the transaction.
- In the event Genworth and Oceanwide cannot agree on a closing date following receipt of all regulatory approvals, each party has the right to terminate the merger agreement.
- Regulators have reviewed the supplemental information, and the parties are working with these regulators to provide additional information as part of their review.
- However, if the parties are unable to reach an agreement with the NYDFS that is also acceptable to our other state insurance regulators, Oceanwide and Genworth will need to consider other alternatives to the transaction for each party.
- Following the receipt of all required U.S. regulatory approvals, Oceanwide will also need to receive clearance in China for the currency conversion and transfer of funds.
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 2019
-1.2%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+3.1%
Avg return
30 days after
47%
34 / 72 earnings
Positive
+25.4%
Q2 2016
Best reaction
-37.7%
Q3 2014
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.4% | +2.1% | -2.5% | |
| Q4 2025 | +2.6% | +1.7% | +0.1% | |
| Q3 2025 | +0.2% | -0.9% | +1.1% | |
| Q1 2025 | -1.0% | +0.1% | +2.8% | |
| Q4 2024 | -7.9% | +1.0% | -9.0% | |
| Q3 2024 | +7.0% | +9.9% | +14.3% | |
| Q2 2024 | -3.2% | -9.5% | +2.5% | |
| Q1 2024 | +8.9% | +12.3% | +6.1% | |
| Q4 2023 | -2.8% | +0.0% | +2.8% | |
| Q3 2023 | -9.5% | -7.9% | +2.6% | |
| Q2 2023 | +0.8% | -3.1% | -10.5% | |
| Q1 2023 | -13.5% | -4.4% | +3.3% | |
| Q4 2022 | -5.2% | +3.0% | +6.6% | |
| Q3 2022 | +1.7% | -2.4% | +8.4% | |
| Q2 2022 | -1.6% | -0.7% | -0.7% | |
| Q1 2022 | +11.1% | +9.2% | +10.0% | |
| Q4 2021 | +1.5% | +1.3% | +3.6% | |
| Q3 2021 | -1.1% | -0.7% | -9.8% | |
| Q2 2021 | +0.6% | +7.5% | +11.3% | |
| Q1 2021 | -1.8% | -2.5% | -4.5% | |
| Q4 2020 | -18.2% | -20.2% | -15.3% | |
| Q3 2020 | +3.7% | +4.9% | +16.1% | |
| Q2 2020 | -13.7% | -12.0% | +1.7% | |
| Q1 2020 | -10.7% | -8.1% | -1.2% | |
| Q4 2019 | -3.2% | +18.2% | -7.6% | |
| Q3 2019 | +3.5% | +0.0% | -4.5% | |
| Q2 2019 | +2.3% | +1.0% | +14.6% | |
| Q1 2019 | -1.3% | +0.5% | -20.2% | |
| Q4 2018 | -1.9% | -4.4% | -21.2% | |
| Q3 2018 | +1.4% | -1.4% | +11.8% | |
| Q2 2018 | +1.7% | +0.0% | +1.3% | |
| Q1 2018 | +7.6% | +9.4% | +24.6% | |
| Q4 2017 | +2.8% | -4.2% | +5.9% | |
| Q3 2017 | +0.9% | +1.5% | +0.3% | |
| Q2 2017 | -1.5% | -0.3% | +0.0% | |
| Q1 2017 | +1.3% | +0.8% | -2.4% | |
| Q4 2016 | -3.1% | -2.0% | +13.7% | |
| Q3 2016 | -4.1% | -3.6% | -1.7% | |
| Q2 2016 | +25.4% | +24.6% | +68.2% | |
| Q1 2016 | +16.3% | — | — | |
| Q4 2015 | -12.1% | — | — | |
| Q3 2015 | -11.2% | — | — | |
| Q2 2015 | -18.9% | — | — | |
| Q1 2015 | +13.1% | — | — | |
| Q4 2014 | +5.7% | — | — | |
| Q3 2014 | -37.7% | — | — | |
| Q2 2014 | -14.3% | — | — | |
| Q1 2014 | +5.1% | — | — | |
| Q4 2013 | +4.4% | — | — | |
| Q3 2013 | -0.2% | — | — | |
| Q2 2013 | -2.2% | — | — | |
| Q1 2013 | +3.3% | — | — | |
| Q4 2012 | -2.7% | — | — | |
| Q3 2012 | +8.8% | — | — | |
| Q4 2011 | +6.6% | — | — | |
| Q2 2012 | -12.2% | — | — | |
| Q1 2012 | +2.2% | — | — | |
| Q3 2011 | -0.4% | — | — | |
| Q2 2011 | -2.6% | — | — | |
| Q1 2011 | +0.3% | — | — | |
| Q4 2010 | +1.1% | — | — | |
| Q3 2010 | -7.9% | — | — | |
| Q2 2010 | -13.4% | — | — | |
| Q1 2009 | -6.8% | — | — | |
| Q1 2010 | +5.7% | — | — | |
| Q4 2007 | -0.3% | — | — | |
| Q4 2009 | -0.3% | — | — | |
| Q4 2008 | -0.3% | — | — | |
| Q3 2008 | +2.4% | — | — | |
| Q3 2009 | +2.4% | — | — | |
| Q2 2009 | -1.7% | — | — | |
| Q2 2008 | -1.7% | — | — |
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