Aflac Q3 Profit Declines

(RTTNews) - Aflac Incorporated (AFL) reported that its third-quarter net income was $702 million, or $1.50 per share, compared to $1.0 billion or $2.16 per share, in the comparable quarter last year.

Operating earnings was $687 million or $1.47 per share, down from $831 million, or $1.77 per share in the year-ago period.

On average, 22 analysts polled by Thomson Reuters expected the company to report profit of $1.48 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues were $5.89 billion, down 14.0% from $6.85 billion prior year, while ten analysts expected revenue of $5.90 billion for the quarter.

The board of Aflac has increased the quarterly cash dividend by 5.7% to $0.37 per share, payable on December 2, 2013, to shareholders of record at the close of business on November 20, 2013.

The company expects fourth quarter operating earnings per share to be in the range of $1.38 to $1.43. Analysts expect the company to report fourth quarter profit per share of $1.41.

The company expects full-year operating earnings to be about $6.16 to $6.21 per share. Analysts expect the company to report full year profit per share of $6.19.