Aflac Q1 Revenues Jump 27.9% to $4.3B, Net Earnings $1B
First quarter revenues rose 27.9% to $4.3 billion, and net earnings surged to $1.02 billion versus $29 million a year earlier. Adjusted EPS grew 5.4% to $1.75, annualized adjusted ROE reached 16.4%, and $1.3 billion was returned to shareholders through buybacks and dividends.
1. First Quarter Financial Results
Aflac reported total revenues of $4.346 billion in Q1 2026, a 27.9% increase from $3.398 billion a year ago. Net earnings were $1.019 billion, or $1.98 per diluted share, compared with $29 million, or $0.05 per share in Q1 2025.
2. Adjusted Earnings and Returns
Adjusted earnings were $901 million, down 0.6% year over year, while adjusted EPS rose 5.4% to $1.75. Annualized adjusted return on equity excluding foreign currency remeasurement was 16.4%, reflecting strong operational performance despite a 2.8% weaker yen.
3. Capital Deployment
The company returned $1.3 billion to shareholders through $1.0 billion in share repurchases and $315 million in dividends. The quarterly dividend was increased 5.2% to $0.61 per share, extending 43 consecutive years of dividend increases.
4. Aflac Japan Segment
Aflac Japan’s net earned premiums fell 3.8% to ¥247 billion, while U.S. dollar denominated investment income rose 13.9% to $409 million. Pretax adjusted earnings in Japan grew 5.1% to ¥119 billion, driven by improved expense ratios and new product initiatives.