Earnings Releases·Nov 4, 2026, 4:20 PM ET

Aflac Incorporated — Third Quarter 2026 Earnings Summary

Total revenues declined 31.0% year-over-year to $3.3 billion, while net earnings dropped 81.5% to $303 million ($0.61 per share) due to $1.1 billion in net investment losses; adjusted earnings fell 8.5% to $1.2 billion ($2.43 per share).
Aflac U.S. delivered growth with pretax adjusted earnings up 31.5% to $493 million and new sales rising 3.5%, whereas Aflac Japan saw pretax adjusted earnings decline 21.0% in dollar terms to $961 million, impacted by a weaker yen and high prior-year sales comparisons.
The company returned $1.1 billion to shareholders via $804 million in share repurchases and $305 million in dividends, while declaring a fourth-quarter dividend of $0.61 per share.
Management emphasized a strategy of "more profitable growth" and opportunistic capital deployment, with no specific numerical forward guidance provided for future periods.
Reported results were significantly affected by foreign currency fluctuations (yen weakened 6.8%), a $51 million tax capital loss valuation allowance, and reserve remeasurement gains of $453 million.