AFLAC Earns $1.21 per Share

AFLAC (AFL) just reported Q1 earnings of $1.21 per share. Forex dinged them for a penny per share. Wall Street had been expecting $1.10 per share.

The duck stock has decided to withdraw earnings guidance for this year. The CEO added, “we will continue to provide color on the drivers of our earnings and any trends that we see for the remainder of the year.”

“With this in mind, we also remain committed to prudent liquidity and capital management. We are understandably taking a tactical approach to capital allocation, leaving all of our options open for deployment and defense. In terms of repurchase guidance, we remain in the market at reduced levels, and are being tactical in our approach to repurchasing our stock. This will provide us additional flexibility to maintain strong capital ratios on behalf of our policyholders in both the U.S. and Japan. We remain committed to defending and extending our 37-year track record of annual dividend increases. We will also continue to invest opportunistically in our platform and strengthen our franchise through growth investments such as our recent definitive agreement to acquire Zurich North America’s U.S. Corporate Life and Pensions (Group Benefits) business. By doing so, we look to emerge from this period in a continued position of strength and leadership.”

Today was the highest close since March 10 for AFLAC. The stock is up 70% from its low of six weeks ago.

Posted by on April 29th, 2020 at 5:01 pm


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