Genworth Financial unexpectedly turns in Q4 loss as LTC results wane (NYSE:GNW)
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Genworth Financial (NYSE:GNW) stock dipped 2.8% in Wednesday after-hours trading after the insurance company turned in a Q4 loss as its long-term care unit logged a wider loss.
Q4 adjusted operating EPS of -$0.51, vs. $0.17 average analyst estimate, dropped from $0.09 in Q3 and $0.67 a year before.
Conversely, revenue of $1.91B advanced from $1.83B in the prior quarter and $1.87B in Q4 2022.
Net investment income rose to $810M from $801M in Q3 and $787M in Q4 2022.
Total benefits and expenses of $2.13B compared with $1.74B in Q3 and $1.34B a year earlier.
Enact (NASDAQ:ACT) Q4 adjusted operating income came in at $129M, down from $134M in Q3 and up from $120M in Q4 2022.
Long-term care insurance adjusted operating income was -$151M vs. -$71M in Q3 and $204M a year before.
Conference call on Feb. 22 at 9:00 a.m. ET.
More on Enact Holdings, Genworth Financial, etc.
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