earnings
confidence high
sentiment neutral
materiality 0.75
Genworth Q3 net income $85M, adj. op. income $48M; LTC loss narrows to $46M
GENWORTH FINANCIAL INC
2024-Q3 EPS reported
$0.68
revenue$5,513,000,000
- Net income $85M ($0.19 diluted EPS); adjusted operating income $48M ($0.11 diluted EPS).
- Enact adjusted operating income $148M; distributed $81M capital returns to Genworth.
- LTC adjusted operating loss $46M (vs -$71M Q3 2023); premiums $581M, liability remeasurement loss $28M.
- Holding company cash $369M; executed $36M share repurchases, $17M debt repurchase at discount.
- CareScout Quality Network expanded to 49 states, on track for 80-85% coverage by year-end.