Genworth Financial, Inc. (NYSE:GNW) Q3 2023 Earnings Conference Call November 8, 2023 9:00 AM ET

Company Participants

Jerome Upton - EVP, CFO & Principal Financial Officer

Thomas McInerney - President, CEO & Director

Conference Call Participants

Operator

Good morning, ladies and gentlemen, and welcome to Genworth's Financial Third Quarter 2023 Earnings Conference Call. My name is Lisa, and I will be your coordinator today. [Operator Instructions].

I would now like to turn the presentation over to Brian Johnson, Senior Vice President of Financial Planning and Analysis. Please go ahead.

Unidentified Company Representative

Thank you, and good morning. Welcome to Genworth's Third Quarter 2023 Earnings Call. The slide presentation that accompanies this call is available on the Investor Relations section of the Genworth's website investor.genworth.com. Our earnings release and financial supplement can also be found there, and we encourage you to review these materials.

Speaking today will be Tom McInerney, President and Chief Executive Officer; and Jerome Upton, Chief Financial Officer. Following our prepared remarks, we will open up the call for a question-and-answer period. In addition to our speakers, Brian Haendiges, President of our U.S. Life Insurance business; and Kelly Saltzgaber, Chief Investment Officer, will also be available to take your questions.

During the call this morning, we may make various forward-looking statements. Our actual results may differ materially from such statements. We advise you to read the cautionary notes regarding forward-looking statements in our earnings release and related presentation as well as the risk factors of our most recent annual report on Form 10-K as filed with the SEC.

This morning's discussion also includes non-GAAP financial measures that we believe may be meaningful to investors. In our investor materials, non-GAAP measures have been reconciled to GAAP where required in accordance with SEC rules. Also, references to statutory results are estimates due to the timing of the filing of the statutory statements. And now I'll turn the call over to our President and CEO, Tom McInerney.

Thomas McInerney

Thank you, Brian. Good morning, everyone, and thank you for joining our third quarter earnings call. Genworth continued to make progress against our strategic priorities in the third quarter as we deliver long-term growth and drive shareholder value. In the third quarter, Genworth reported net income of $29 million or $0.06 per diluted share and adjusted operating income of $42 million or $0.09 per diluted share. Enact again, had a very strong quarter with adjusted operating income of $134 million to Genworth.