Voya Financial Full Year 2024 Earnings: Beats Expectations

Voya Financial (NYSE:VOYA) Full Year 2024 Results

Key Financial Results

• Revenue: US$8.05b (up 9.6% from FY 2023).
• Net income: US$626.0m (up 6.3% from FY 2023).
• Profit margin: 7.8% (down from 8.0% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: US$6.31 (up from US$5.74 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Voya Financial Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 7.8%. Earnings per share (EPS) also surpassed analyst estimates by 1.7%.

The primary driver behind last 12 months revenue was the Health Solutions segment contributing a total revenue of US$3.58b (44% of total revenue). The largest operating expense was General & Administrative costs, amounting to US$3.08b (86% of total expenses). Explore how VOYA's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Diversified Financial industry in the US.

Performance of the American Diversified Financial industry.

The company's shares are down 4.7% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on Voya Financial's balance sheet.

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