Jackson Q4 2024 Earnings Report

Jackson reported strong financial performance with significant growth in annuity sales and higher earnings.

Key Takeaways

Jackson Financial Inc. achieved strong financial performance in Q4 2024, driven by increased annuity sales, higher assets under management, and improved operating earnings. Adjusted operating earnings grew by 71%, while net income recovered significantly compared to the prior year.

Retail annuity sales grew 42% year-over-year, reaching $4.7 billion.

Net income was $334 million, reversing a $1.6 billion loss from Q4 2023.

Adjusted operating earnings per share increased to $4.65 from $2.53 last year.

Returned $148 million to shareholders through buybacks and dividends.

EPS

$4.65

Previous year: $2.53

+83.8%

Assets Under Management

$252B

Previous year: $235B

+7.2%

Retail Annuity Sales

$4.7B

Previous year: $3.3B

+42.4%

Cash and Equivalents

$3.77B

Previous year: $2.69B

+40.1%

Free Cash Flow

$767M

Total Assets

$338B

Previous year: $305B

+11.0%

Jackson Revenue

Jackson EPS

Jackson Revenue by Segment

Forward Guidance

Jackson set an ambitious 2025 capital return target and increased its dividend, reflecting confidence in future growth.

Positive Outlook

Raised first quarter 2025 dividend by 14% to $0.80 per share.
Set a 2025 capital return target of $700-800 million.
Continued strong growth in annuity sales expected.
Maintained robust liquidity with over $700 million in cash.
Improved alignment of hedge assets with market risks.

Challenges Ahead

Higher market-related costs could impact profitability.
Continued volatility in hedge assets may affect earnings.
Regulatory changes may pose operational challenges.
Potential economic downturn could slow annuity sales.
Interest rate fluctuations may impact investment returns.