Business
Aflac Incorporated Announces Second Quarter Results, Reports Second Quarter Net Earnings of $599 Million, Declares Third Quarter Dividend
Aflac Incorporated (NYSE: AFL) today reported its second quarter results.
About this update from Aflac Incorporated
[{"type":"text","content":"COLUMBUS, Ga., Aug. 5, 2025 /PRNewswire/ -- Aflac Incorporated (NYSE: AFL) today reported its second quarter results.","length":117,"tagName":"p"},{"type":"text","content":"Total revenues were $4.2 billion in the second quarter of 2025, compared with $5.1 billion in the second quarter of 2024, primarily due to net investment losses of $421 million this quarter compared to net investment gains of $696 million in the second quarter of 2024. Net earnings were $599 million, or $1.11 per diluted share, compared with $1.8 billion, or $3.10 per diluted share a year ago.","length":396,"tagName":"p"},{"type":"text","content":"Net earnings in the second quarter of 2025 included net investment losses of $421 million, or $0.78 per diluted share, compared with net investment gains of $696 million, or $1.23 per diluted share a year ago. These net investment losses were driven by net losses of $452 million on certain derivatives and foreign currency activities; $58 million of current expected credit losses (CECL); impairments of $6 million; and net losses from sales and redemptions of $3 million; offset by a $98 million gain from an increase in the fair value of equity securities.","length":559,"tagName":"p"},{"type":"text","content":"Adjusted earnings* in the second quarter were $957 million, compared with $1.0 billion in the second quarter of 2024, reflecting a decrease of 7.5%. Adjusted earnings per diluted share* decreased 2.7% to $1.78 in the quarter. Variable investment income ran $35 million below the company's long-term return expectations. Net investment income included $35 million, or $0.05 per share, from a make-whole call of a security in the Japan segment. The stronger yen/dollar exchange rate positively impacted adjusted earnings per share by $0.04.","length":547,"tagName":"p"},{"type":"text","content":"The average yen/dollar exchange rate in the second quarter of 2025 was 144.60, or 7.7% stronger than the average rate of 155.70 in the second quarter of 2024. For the first six months, the average exchange rate was 148.32, or 2.7% stronger than the rate of 152.30 a year ago.","length":275,"tagName":"p"},{"type":"text","content":"Shareholders' equity was $27.2 billion, or $50.86 per share, at June 30, 2025, compared with $26.0 billion, or $46.40 per share, at June 30, 2024. Shareholders' equity at the end of the se...