ACT - Genworth whittles down debt in Q4 will evaluate shareholder return program

Genworth (NYSE:GNW) Q4 highlights included $518M of debt reduction, including full retirement of senior notes due in August 2023 and reduction of February 2024 senior notes by $118M. As of Dec. 31, 2021, the company had ~$1.2B of parent holding company long-term debt and $356M in cash and liquid assets. The company will evaluate its shareholder return program once it reaches its holding company debt target of $1.0B and Enact (NASDAQ:ACT) starts its regular common dividend. Recall that Genworth spun off a minority stake in Enact through an IPO in September. Genworth (GNW) stock rises 0.5% in after-hours trading. Q4 adjusted operating EPS of $0.32 fell from $0.46 in Q3 and from $0.37 in the year-ago quarter. Total revenue of $1.74B fell short of the $2.01B consensus and dropped from $2.15B a year ago. Q4 net investment income of $866M rose from $859M in Q3 and $846M in Q4 2020, due

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Genworth whittles down debt in Q4, will evaluate shareholder return program