Overview

* Genworth ( GNW ) Q3 net income increases to $116 mln, adjusted operating income declines

* Company announces new $350 mln share repurchase program, $76 mln executed in Q3

* Genworth ( GNW ) expands CareScout with Seniorly acquisition and new LTC product launch

Outlook

* Genworth ( GNW ) announces new $350 mln share repurchase program

* Company remains focused on delivering value to shareholders

* Genworth ( GNW ) expands CareScout with acquisition of Seniorly

Result Drivers

* CARESCOUT EXPANSION - Acquisition of Seniorly and launch of new LTC product expanded CareScout's reach

* SHARE REPURCHASES - Genworth ( GNW ) executed $76 mln in share repurchases as part of new $350 mln program

* ENACT CASH FLOWS - Strong cash flows from Enact supported capital returns and shareholder value

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.28

Q3 Net $116 mln

Income

Q3 $17 mln

Adjusted

Operatin

g Income

Analyst Coverage

* The one available analyst rating on the shares is "buy"

* The average consensus recommendation for the multiline insurance & brokers peer group is "buy"

* Wall Street's median 12-month price target for Genworth Financial Inc ( GNW ) is $10.00, about 14.7% above its November 4 closing price of $8.53

* The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)