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Jun 30, 2020
Voya Q2 2020 Earnings Report
Announced second-quarter 2020 results, demonstrating financial strength and achieving growth in key business segments.
Key Takeaways
Voya Financial reported a net loss of $(0.55) per diluted share and adjusted operating earnings of $0.15 per diluted share for the second quarter of 2020. Normalized adjusted operating earnings were $1.09 per diluted share. The company had $668 million in excess capital as of June 30, 2020, and total assets under management and administration were $606 billion.
Net loss available to common shareholders was $(0.55) per diluted share.
Adjusted operating earnings were $0.15 per diluted share.
Normalized adjusted operating earnings were $1.09 per diluted share.
Excess capital was $668 million as of June 30, 2020.
Forward Guidance
Voya expects the sale of its Individual Life and other legacy non-retirement annuities businesses to close by Sept. 30, 2020, providing $1.5 billion in deployable capital.
Positive Outlook
- Strong Balance Sheet
- High Free Cash Flow
- Achieved $250 million in cost savings
- Individual Life transaction on track
- Deployable capital of $1.5 billion expected
Challenges Ahead
- Economic challenges due to COVID-19
- Health challenges due to COVID-19
- Operational challenges due to COVID-19
- Stranded costs associated with Individual Life business
- Unfavorable equity markets
Historical Earnings Impact
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Avg. Return Before/After Earnings
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