Insurance service provider Genworth Financial, Inc. (NYSE: GNW) has reported lower earnings and revenues for the third quarter of 2022. The company said it expects higher free cash flow going forward.
Net income available to shareholders declined sharply to $104 million or $0.20 per share in the September quarter from $314 million or $0.61 per share in the prior-year period.
The bottom line was negatively impacted by an 11% decrease in revenues to $1.84 billion, with all the operating segments registering negative growth.
“We are pleased with the progress we have made in the first nine months of the year. Genworth achieved our debt target further stabilized our legacy LTC book, and initiated a program to return capital to our shareholders, while also delivering solid financial results,” said Genworth’s CEO Tom McInerney.
Stocks you may like:
Starbucks Corporation (NASDAQ: SBUX) reported first quarter 2023 earnings results today. Consolidated net revenues increased 8% year-over-year to $8.7 billion, in line with projections. Global comparable store sales increased
Alphabet Inc. (NASDAQ: GOOGL, GOOG) on Thursday reported a 1% increase in fourth-quarter 2022 revenues, with strong contributions from the cloud business. The company, which owns the largest internet search
Harley-Davidson, Inc. (NYSE: HOG) reported fourth quarter 2022 earnings results today. Revenue increased 12% year-over-year to $1.14 billion. Net income attributable to Harley-Davidson, Inc. rose 94% YoY to $42 million,