Aflac Incorporated (AFL) Earnings Call Transcripts
Aflac Incorporated's Latest Earnings Call - Q2 FY2026
Aflac Incorporated reported solid financial results for the second quarter of 2026, with net earnings per diluted share of $1.63 and adjusted earnings per diluted share of $1.75, reflecting a 1.1% year-over-year increase. Total revenue showed resilience despite a 5.6% decline in Aflac Japan sales, which was expected due to strong prior-year comparisons. Management maintained guidance for Aflac Japan sales to exceed 2025 levels, signaling confidence in future growth despite current challenges in the market.
Reported metrics
| Metric | Value |
|---|---|
| Net Earnings per Share | $1.63 (beat) |
| Adjusted Earnings per Share | $1.75 (beat) |
| Aflac Japan Sales | JPY 11 billion (miss) |
| U.S. Sales Growth | 2.6% (positive) |
| Expense Ratio (Japan) | 20.2% (positive) |
| Net Earned Premium Growth (U.S.) | 2.3% (miss) |
Guidance from management
Management expects Aflac Japan sales to exceed 2025 levels and anticipates net earned premium growth for 2026 to be just below the previous guidance range of 3% to 6%. They remain confident in achieving a CAGR of 3% to 6% from 2025 to 2027.
What management said
[Interpreted] This is Koide speaking from Aflac Japan. As Max has described, Tsumitasu, our first sector products account for 20% of the total sales, but it's not that we set a specific target or upper limit in terms of the first sector product sales. Tsumitasu is contributing in expanding our platform, our customer base through a younger generation, and it's been well received by those younger customers today. And T...
I think the answer is we continue to look at opportunities. Generally, if something is for sale, it's for sale for a reason. And so we want to be careful in how we spend the money. It took us a long time to make it, and we want to be careful with that. But at the same time, if there's opportunities, we certainly want to look into it. I am pleased with the development of the small companies that we bought and what's t...
What analysts pressed on
Analysts expressed concerns about the impact of inflation on lapse rates and the effectiveness of the company's reinsurance strategy. There were questions regarding the sustainability of sales growth in Japan and the U.S. amidst changing market conditions and competition.
Main topics on the call
- Sales Performance in Japan — Aflac Japan experienced a 5.6% decline in sales to JPY 11 billion, attributed to strong comparisons from the previous year. However, management stated, "we continue to expect Aflac Japan sales to exceed 2025," indicating...
- U.S. Sales Growth — Aflac U.S. reported a 2.6% increase in year-over-year sales, with notable momentum in group voluntary products. Management highlighted, "we are seeing momentum within our group business," suggesting a positive outlook fo...
- Capital Management — The company returned $1.3 billion to shareholders through dividends and share repurchases in Q2, maintaining a strong capital position. Management emphasized their commitment to "prudent liquidity and capital management,...
- Expense Management Amid Inflation — Despite inflationary pressures in Japan, Aflac managed to reduce its expense ratio to 20.2%. Management stated, "we have done a very good job managing that expense ratio overall," reflecting effective cost control.
Read the full Aflac Incorporated transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Aflac Incorporated
Aflac Incorporated (AFL) is a publicly listed company in the Insurance industry, within the Financials sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 65 calls on record spanning February 5, 2020 to August 7, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 65 Aflac Incorporated earnings call transcripts on record, spanning February 5, 2020 to August 7, 2026. Based on this history, Aflac Incorporated reports quarterly. The most recent call on file is dated August 7, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- AFL
- Exchange
- NYSE
- Country
- US
- Sector
- Financials
- Industry
- Insurance
- Calls on record
- 65
- First call
- February 5, 2020
- Most recent
- August 7, 2026
- Reporting cadence
- quarterly