earnings
confidence high
sentiment positive
materiality 0.75
Genworth Q1 2024 net income $139M ($0.31 EPS); Enact operating income $135M
GENWORTH FINANCIAL INC
2024-Q1 EPS reported
$0.31
revenue$1,864,000,000
- Net income $139M ($0.31 diluted EPS); adjusted operating income $85M ($0.19).
- Enact adjusted operating income $135M; new $250M buyback program and increased dividend to $0.185/share.
- LTC segment returned to profitability with $3M adjusted operating income; $41M in premium rate approvals.
- Repurchased $63M in common stock in Q1; total $434M at avg $5.42 through April 30, 2024.
- U.S. life insurance RBC ratio improved to 314% (vs 303% in Q4 2023).