Genworth Financial Q2 net income flat

Genworth Financial

05/08/2026 21:27

Overview
U.S. insurance and mortgage provider's Q2 net income was steady at $47 mln
Adjusted operating income, excluding Closed Block, was $112 mln, unchanged from prior year
Company repurchased $62 mln of shares in the quarter

Outlook
Genworth plans to launch Care Assurance Worksite in Q3, approved in 34 states as of June 30
Genworth notes claims in long-term care insurance expected to grow as the block ages

Result Drivers
MORTGAGE INSURANCE - Enact unit drove net income with strong operating performance and capital returns
INVESTMENT INCOME - Net investment income rose to $660 mln, up from $605 mln in the prior quarter and $634 mln in the prior year, mainly from higher income from limited partnerships and U.S. Treasury Inflation-Protected Securities
CLOSED BLOCK PRESSURE - Higher claims and lower terminations in legacy insurance segment weighed on results as the block ages

Company press release: ID:nBw66TlqPa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
 
$0.12
 
Q2 Net Income
 
$47 mln
 
Q2 Adjusted Operating Income
 
$112 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the multiline insurance & brokers peer group is "hold."
Wall Street's median 12-month price target for Genworth Financial Inc is $12.66, about 29% above its August 4 closing price of $9.81
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 21 three months ago

Reuters Recommended Reads
Aug 4 - Prudential Financial's quarterly profit rises on gains in PGIM, individual life units
Aug 4 - Voya Financial Q2 profit falls on lower investment income, severance costs
Aug 4 - Corebridge Q2 adjusted operating income falls 24% yr/yr

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)