Voya Financial Third Quarter 2024 Earnings: EPS Misses Expectations

Voya Financial (NYSE:VOYA) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$1.96b (up 7.3% from 3Q 2023).
• Net income: US$98.0m (down 61% from 3Q 2023).
• Profit margin: 5.0% (down from 14% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$1.00 (down from US$2.34 in 3Q 2023).

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

Voya Financial EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 48%.

Looking ahead, revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Diversified Financial industry in the US.

Performance of the American Diversified Financial industry.

The company's shares are down 7.3% 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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