Genworth Financial Full Year 2024 Earnings: EPS: US$0.71 (vs US$0.16 in FY 2023)

Genworth Financial (NYSE:GNW) Full Year 2024 Results

Key Financial Results

• Revenue: US$7.30b (down 2.6% from FY 2023).
• Net income: US$309.0m (up 307% from FY 2023).
• Profit margin: 4.2% (up from 1.0% in FY 2023). The increase in margin was driven by lower expenses.
• EPS: US$0.71 (up from US$0.16 in FY 2023).

GNW Profitability Indicators

• Combined ratio: 28.0% (up from 26.0% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

The primary driver behind last 12 months revenue was the Long-Term Care Insurance segment contributing a total revenue of US$4.25b (58% of total revenue). Notably, cost of sales worth US$6.57b amounted to 90% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling US$413.0m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how GNW's revenue and expenses shape its earnings.

Genworth Financial shares are up 1.1% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for Genworth Financial you should know about.

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