earnings
confidence high
sentiment neutral
materiality 0.60
Genworth Q2 net income $47M ($0.12/diluted); adj op income ex-Closed Block $112M ($0.29/diluted)
GENWORTH FINANCIAL INC
- Net income of $47M ($0.12 diluted EPS); adjusted operating income ex-Closed Block $112M ($0.29 diluted EPS).
- Enact adjusted operating income $143M; PMIERs sufficiency ratio 161% ($1,894M above requirements).
- Closed Block adjusted operating loss of $110M, driven by $127M pre-tax A/E loss in LTC.
- Share repurchases of $62M in quarter at avg price $8.74; $918M since program inception.
- Holding company cash and liquid assets $215M; received $103M in capital returns from Enact.