Genworth Financial Q1 net income drops

Genworth Financial

05/05/2026 21:57

Overview

US insurance and mortgage provider's Q1 net income drops to $47 mln, adjusted operating income falls to $109 mln

Company repurchased $66 mln of shares in Q1

Net income driven by strong Enact performance and ongoing CareScout investment

Outlook

Genworth did not provide specific financial guidance for the current or future periods

Result Drivers

ENACT PERFORMANCE - Strong operating income from Enact, including a pre-tax reserve release and higher investment income, drove consolidated results

CARESCOUT INVESTMENT - Continued investment in CareScout to fund growth in the services business weighed on Corporate and Other results

CLOSED BLOCK CLAIMS - Closed Block losses were driven by higher long-term care claims and increased mortality, partially offset by insurance recoveries

Company press release: ID:nBw5MJkRJa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.12
Q1 Net Income
$47 mln
Q1 Adjusted Operating Income
$109 mln


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the multiline insurance & brokers peer group is "buy"

Wall Street's median 12-month price target for Genworth Financial Inc is $10.50, about 18.4% above its May 4 closing price of $8.87

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)