Aflac Incorporated Earnings Recaps
Q1 2026
May 1, 2026
Shares of Aflac closed down 2.9% following Q1 2026 results, as the market appeared unenthused despite robust reported sales gains in Japan and the U.S. The absence of positive surprise in margins, outlook, or guidance likely left investors looking for more than incremental operating momentum.
Key takeaways
- Adjusted earnings per share rose 6.6% year-over-year to $1.77 (ex-FX), aided by reserve remeasurement gains but modestly offset by softer variable investment income.
- Japan segment delivered a notable 25.5% increase in sales, propelled by new medical and cancer insurance products.
- U.S. operations saw sales increase 2.9% year-over-year, with net earned premium up 3.5% and stable premium persistency at 79.3%.
- Capital returns remained robust with $1.3 billion returned to shareholders via buybacks and dividends in the quarter.
- Margins and guidance commentary remained steady, with no clear indicators of meaningful upward revisions or acceleration that might have driven a more positive market response.
Q3 2025
Nov 7, 2025
Aflac Incorporated reported solid third-quarter 2025 results, with adjusted earnings per diluted share rising 15.3% year-over-year to $2.49, driven by strong sales performance in both Japan and the U.S.
Key takeaways
- Aflac Japan recorded an impressive 11.8% year-over-year sales increase, notably fueled by a 42% surge in cancer insurance sales.
- New sales in Aflac U.S. reached $390 million, marking a 2.8% increase from the previous year, maintaining a strong premium persistency of 79%.
- Aflac repurchased a record $1 billion in shares and paid $309 million in dividends during the quarter, reinforcing its commitment to shareholder returns.
- The company celebrated 43 consecutive years of dividend increases, highlighting its strong financial position and capital management strategy.
- Continued emphasis on underwriting discipline and premium persistency is expected to drive further net earned premium growth, supporting the company’s long-term objectives.