earnings
confidence high
sentiment neutral
materiality 0.75
Genworth Q3 net income $29M (diluted EPS $0.06); adjusted operating income $42M
GENWORTH FINANCIAL INC
2023-Q3 EPS reported
$0.60
revenue$5,577,000,000
- Net income of $29M vs. $137M in Q2 2023 and $136M in Q3 2022; diluted EPS $0.06.
- Adjusted operating income of $42M, down from $158M a year ago; adjusted EPS $0.09.
- Enact segment adjusted operating income $134M; LTC segment loss of $71M; Life & Annuities loss $3M.
- Executed $80M in share repurchases in Q3; $334M total through Oct 2023 at avg. price $5.24/share.
- LTC in-force rate actions: $83M gross incremental premium approved in Q3; ~$25B NPV achieved since 2012.