Aflac Q2 Profit Falls

(RTTNews) - Insurer Aflac Inc. (AFL) reported net earnings for the second quarter of $573 million or $1.32 per share, compared to $810 million or $1.78 per share for the year-ago quarter.

Operating earnings for the second quarter were $651 million or $1.50 per share, compared to $757 million or $1.66 per share in the prior year quarter. Operating earnings for the latest quarter included a charge of $10.5 million, or $0.02 per share, reflecting the write-off of certain software development costs related to modernization activities at Aflac Japan.

Total revenues for the second quarter fell 9.4% to $5.29 billion from $5.84 billion in the second quarter of last year.

Analysts polled by Thomson Reuters expected the company to earn $1.52 per share on revenue of $5.24 billion for the second quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts third quarter earnings of $1.40 to $1.53 per share.

The company now expects full-year 2015 reported operating earnings to be $5.88 to $6.17 per share, compared to its prior guidance of $5.74 to $6.15 per share.

Analysts currently expect the company to earn $1.48 per share for the third quarter and $5.97 per share for the full year 2015.