Aflac Reports In-Line Quarter, Mixed Guidance
October 26, 2011 4:32 PM
Shares of Aflac (NYSE: AFL) are trading flat in the after-hours following the release of the company's Q3 earnings results. Currently, shares are lower by 0.07%, trading at $43.00; they ended the regular session higher by 3.09%, at $43.03.
Aflac reported Q3 EPS of $1.59 on revenues of $5.99 billion; the Street was looking for $1.60 per share on revenues of $5.95 billion. Revenues increased 11% year over year.
The company sees Q4 EPS of $1.45-1.52, while FY2011 is expected to come in at $6.30-6.37; the Street was at $1.55 and $6.34 per share, respectively.
Commenting on the company's third quarter results, Chairman and Chief Executive Officer Daniel P. Amos stated: "We are pleased with our overall results in the third quarter of 2011. Aflac Japan sales greatly exceeded our expectations, largely because of our ability to develop relevant products such as WAYS that appeal to banks and Japanese consumers alike.”
“We are proud of Aflac Japan's remarkable results, especially following two years of exceptional sales growth and the challenges in 2011 resulting from the most devastating natural disaster in Japan's history. Our outstanding sales results in 2011 will create difficult comparisons in 2012.”
Aflac Incorporated is a general business holding company and acts as a management company, overseeing the operations of its subsidiaries by providing management services.
