Categories AlphaGraphs, Earnings, Finance

GNW Earnings: A snapshot of Genworth Financial’s Q1 2023 results

Insurance service provider Genworth Financial, Inc. (NYSE: GNW) has reported lower earnings and revenues for the first quarter of 2023. The company repurchased around $68 million of its stock during the quarter.

Genworth Financial Q1 2023 earnings infographic

Net income available to shareholders decreased to $62 million or $0.12 per share in the March quarter from $191 million or $0.37 per share in the prior-year period.

The bottom line was negatively impacted by a 2% decline in revenues to $1.85 billion. Premium revenues remained unchanged year-over-year, while net investment income rose 3%.

“Genworth’s recent achievements enable us to further refine our priorities to maximize long-term shareholder value by allocating capital from Enact, launching our CareScout services business, and stabilizing LTC through our multi-year rate action plan. As we continue to execute on our priorities, we will be well-positioned to continue returning capital to shareholders,” said Genworth’s CEO Tom McInerney.

Prior Performance

  • Genworth Financial Q4 2022 earnings infographic
  • Genworth Financial Q3 2022 earnings infographics

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