Genworth (GNW) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Wed, May 6, 2026 astatine 9:16 AM CDT 24 min read

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DATE

Wednesday, May 6, 2026 astatine 9 a.m. ET

CALL PARTICIPANTS

• President and Chief Executive Officer — Thomas J. McInerney

• Chief Financial Officer — Jerome Upton

• Chief Investment Officer — Kelly Saltsgeber

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Full Conference Call Transcript

Tom McInerney, President and Chief Executive Officer, and Jerome Upton, Chief Financial Officer. Following our prepared remarks, we volition unfastened the telephone for questions. In summation to our speakers, Jamala Arland, President and CEO of our Closed Block Insurance business, Greg Caruana, General Counsel, Kelly Saltsgeber, Chief Investment Officer, and Samir Shah, CEO of CareScout, volition besides beryllium disposable to instrumentality your questions. During this morning's call, we whitethorn marque assorted forward-looking statements. Our existent results whitethorn disagree materially from specified statements. We counsel you to work the cautionary notes regarding forward-looking statements successful our net merchandise and related presumption arsenic good arsenic the hazard factors of our astir caller yearly study connected Form 10-K arsenic filed with the SEC.

Today's treatment besides includes non-GAAP fiscal measures that we judge whitethorn beryllium meaningful to investors. In our capitalist materials, non-GAAP measures person been reconciled to GAAP wherever required and successful accordance with SEC rules. Additionally, references to statutory results are estimates owed to the timing of the statutory filing. And present I volition crook the telephone implicit to our President and CEO, Tom McInerney.

Tom McInerney: Thank you, Christine, and convey you each for taking the clip to articulation our archetypal 4th net telephone this morning. In the archetypal quarter, we continued to execute crossed our strategical priorities and person erstwhile again generated beardown shareholder value. We precocious our semipermanent maturation strategy done CareScout, and we further strengthened the self-sustainability of our closed block. Before turning to our results, I would similar to concisely code an update to however we contiguous and measure our halfway operating earnings.

As we person discussed, our closed artifact of bequest security products is abstracted from our different concern lines and self-sustaining, and the quarter-to-quarter GAAP volatility does not bespeak the underlying economics oregon however the concern is strategically positioned for the agelong term. As a result, going forward, we volition study Genworth Financial, Inc.'s consolidated adjusted operating income excluding the closed block. We judge this presumption of our operating show amended aligns with our strategy and superior allocation framework, driving existent and aboriginal shareholder returns done Enact and semipermanent maturation opportunities with CareScout. We volition proceed to study the adjusted operating income for the closed artifact separately successful our disclosures.