The 10-second takeaway
For the quarter ended March 31 (Q1), AFLAC beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly. Non-GAAP earnings per share dropped slightly. GAAP earnings per share grew.
Gross margins dropped, operating margins grew, net margins grew.
AFLAC logged revenue of $6.21 billion. The eight analysts polled by S&P Capital IQ expected a top line of $6.12 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.69. The 21 earnings estimates compiled by S&P Capital IQ averaged $1.62 per share. Non-GAAP EPS of $1.69 for Q1 were 2.9% lower than the prior-year quarter's $1.74 per share. GAAP EPS of $1.90 for Q1 were 13% higher than the prior-year quarter's $1.68 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 21.9%, 750 basis points worse than the prior-year quarter. Operating margin was 21.9%, 240 basis points better than the prior-year quarter. Net margin was 14.4%, 170 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $6.10 billion. On the bottom line, the average EPS estimate is $1.56.
Next year's average estimate for revenue is $24.54 billion. The average EPS estimate is $6.28.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,973 members out of 2,056 rating the stock outperform, and 83 members rating it underperform. Among 580 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 562 give AFLAC a green thumbs-up, and 18 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on AFLAC is outperform, with an average price target of $58.88.
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