Aflac posts 3Q profit, results beat Wall Street estimates

MarketsAssociated Press

COLUMBUS, Ga. (AP) — Aflac Inc. (AFL) on Tuesday reported third-quarter profit of $706 million.

On a per-share basis, the Columbus, Georgia-based company said it had net income of $1.56. Earnings, adjusted for non-recurring gains, came to $1.51 per share.

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The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.43 per share.

The insurer posted revenue of $5.74 billion in the period, also surpassing Street forecasts. Analysts expected $5.72 billion, according to Zacks.

For the current quarter ending in December, Aflac expects its per-share earnings to range from $1.28 to $1.37. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.39.

The company expects full-year earnings in the range of $6.14 to $6.23 per share.

Aflac shares have fallen 11 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 7 percent. In the final minutes of trading on Tuesday, shares hit $59.53, a fall of 10 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. AFL stock research report from Zacks.

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Keywords:Aflac,Earnings Report