earnings
confidence high
sentiment positive
materiality 0.75
Genworth Q3 net income $104M ($0.20); adj. operating income $159M; debt target met
GENWORTH FINANCIAL INC
2022-Q3 EPS reported
$0.85
revenue$5,612,000,000
- Net income $104M ($0.20 diluted) vs $314M ($0.61) YoY; adjusted operating income $159M ($0.31) vs $239M.
- Enact segment adjusted operating income $156M; received $19M dividend from Enact.
- LTC rate increases approved: $47M annual, adding $300M NPV to total $21.0B.
- Redeemed $152M of debt; holding company debt now $1.0B or less; cash above target at $145M.
- Executed $19M share repurchases in Q3, $59M total through October 2022.