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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