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Genworth Financial Inc (GNW)
NYSE:GNW
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Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.22Last Year’s EPS
-$0.51Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -1.54%
|Next Earnings Date:Feb 11, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong performance from Enact and substantial progress on strategic priorities, including share repurchases and MYRAP. However, losses in the U.S. life insurance segment and LTC insurance, as well as expenses from CareScout, indicate challenges. Overall, the company's outlook remains optimistic with ongoing investments and strategic progress.Company Guidance
During Genworth Financial's Third Quarter 2024 Earnings Call, the company provided various financial metrics and strategic guidance. Genworth reported a net income of $85 million, translating to $0.19 per share, with an adjusted operating income of $48 million or $0.11 per share. Enact, a key contributor, added $148 million to the adjusted operating income, showcasing its operational strength and capital levels. Genworth's liquidity remains robust, ending the quarter with $369 million in cash and liquid assets, including $162 million in advanced cash payments. The company continues to focus on its strategic priorities, notably creating shareholder value through Enact, which has provided approximately $819 million in capital since its IPO, and maintaining a self-sustaining long-term care (LTC) insurance business. Genworth's multiyear rate action plan (MYRAP) achieved $124 million in gross premium approvals in Q3 and has reached an estimated $30 billion on a net present value basis since 2012. The company also highlighted its investment of $35 million in CareScout Services for 2024, aiming to scale its quality network across the U.S. and drive future growth through innovative care services and funding solutions.Strong Enact Performance
Enact contributed $148 million to adjusted operating income, with a 10% year-over-year increase driven by favorable performance metrics. It also delivered a total shareholder return of 95% since its IPO, significantly outperforming the S&P 500's 34%.
Robust Capital Returns and Share Repurchase Program
Year-to-date through October, Genworth repurchased approximately $144 million worth of shares, reducing outstanding shares by 16% since May 2022. Enact's capital returns supported these efforts.
MYRAP Progress
Secured $124 million in gross premium approvals with an average premium increase of 53% in Q3, contributing to a cumulative progress of $30 billion on a net present value basis since 2012.
CareScout Network Expansion
CareScout network expanded to 49 states with 422 high-quality, person-centered home care providers, aiming for 85% geographic coverage of the aged 65-plus census population in the U.S. by year-end.
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GNW Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GNW Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $7.14 | $7.02 | -1.68% |
| Jul 31, 2024 | $6.77 | $6.59 | -2.66% |
| May 01, 2024 | $6.07 | $6.46 | +6.43% |
| Feb 21, 2024 | $6.06 | $5.94 | -1.98% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Genworth Financial Inc (GNW) report earnings?
Genworth Financial Inc (GNW) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is Genworth Financial Inc (GNW) earnings time?
Genworth Financial Inc (GNW) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GNW EPS forecast?
GNW EPS forecast for the fiscal quarter 2024 (Q4) is $0.22.
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