Reported Q: Q1 2024 Rev YoY: +16.8% EPS YoY: +227.1% Move: -0.94%
Voya Financial Inc
VOYA-PB
$23.13 -0.94%
Exchange NYSE Sector Financial Services Industry Financial Conglomerates
Q1 2024
Published: May 6, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for VOYA-PB

Reported

Report Date

May 6, 2024

Quarter Q1 2024

Revenue

2.05B

YoY: +16.8%

EPS

2.24

YoY: +227.1%

Market Move

-0.94%

Previous quarter: N/A

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Earnings Highlights

  • Revenue of $2.05B up 16.8% year-over-year
  • EPS of $2.24 increased by 227.1% from previous year
  • Gross margin of 100.0%
  • Net income of 251.00M
  • "Adjusted operating earnings per share was $1.77, up 23% year-over-year and we remain on track to deliver our full year 2024 EPS target of $8.25 to $8.45." - Heather Lavallee
VOYA-PB
Company VOYA-PB

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Executive Summary

Voya Financial delivered a solid QQ1 2024 performance, aligning with management guidance and maintaining an explicit capital return trajectory. The company posted adjusted operating earnings per share (EPS) of 1.77, up 23% year-over-year, and reaffirmed 2024 targets of 8.25 to 8.45 in adjusted operating EPS. Excess capital generation reached approximately $200 million in the quarter, with the board approving an additional $500 million share repurchase authorization and a stated plan to generate and return more than $800 million of excess capital to shareholders in 2024. Management emphasized disciplined expense management while preserving strategic investments to sustain growth and monetize a diversified platform.
Segment highlights throughout QQ1 2024 show a broad-based growth profile: Wealth Solutions generated annualized adjusted earnings growth of more than 40% year-over-year to $186 million; Health Solutions achieved 17% in-force premium growth year-over-year, aided by stop-loss expansion and new distribution, while Investment Management reported net inflows of $574 million in the quarter and continued international expansion with $1.3 billion in quarterly international retail flows. The firm also signaled a strong 2024 pipeline, including plans for three private fund launches and deeper private markets distribution capabilities. The results reflect a capital-light, diversified business model with multiple revenue streams and an improving growth trajectory in 2H 2024 as flows normalize and product expansions mature.

Key Performance Indicators

Revenue
Increasing
2.05B
QoQ: 12.75% | YoY: 16.80%
Gross Profit
Increasing
2.05B
1.00% margin
QoQ: 12.75% | YoY: 16.80%
Operating Income
Increasing
317.00M
QoQ: 210.78% | YoY: 83.24%
Net Income
Increasing
251.00M
QoQ: 105.74% | YoY: 202.41%
EPS
Increasing
2.29
QoQ: 102.65% | YoY: 227.14%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 0.00 1.42 +0.0% View
Q4 2024 0.00 0.93 +0.0% View
Q3 2024 1,956.00 0.98 +7.3% View
Q2 2024 2,033.00 1.96 +8.7% View
Q1 2024 2,051.00 2.24 +16.8% View