Voya Financial (VOYA) Tops Q2 EPS by 84c
Voya Financial (NYSE: VOYA) reported Q2 EPS of $2.20, $0.84 better than the analyst estimate of $1.36.
"We delivered strong results in the second quarter, with record adjusted operating earnings per share driven by strong investment income and solid performance across our businesses,\" said Rodney O. Martin, Jr., chairman and CEO, Voya Financial, Inc. "Compared with the prior-year period, Wealth Solutions full service recurring deposits for the trailing twelve months ended June 30, 2021 grew 6.7%, and full service net flows were $238 million in the second quarter. In Health Solutions, annualized in-force premiums in the second quarter of 2021 increased 9.8% compared with the prior-year period due to growth across all product lines. And Investment Management generated $249 million in net inflows in the quarter as several new mandates funded.
"We continued to demonstrate our commitment to being good stewards of shareholder capital and repurchased $518 million of common stock during the quarter. As of June 30, 2021, we had approximately $1.5 billion in excess capital, and we are on track to repurchase at least $1 billion in common stock in 2021. This would build upon the more than $7.5 billion in capital that we have returned to shareholders through share repurchases and dividends since our initial public offering.
"Equally important, we have continued to advance our plans to focus on serving the workplace and institutional clients with the closing of the sale of our independent financial planning channel and the acquisition of Benefit Strategies. We have positioned Voya to meet the complex and increasing needs of our clients. Our unique digital capabilities, insights and focus on client needs will enable us to create greater value for all of our customers and position us to generate further earnings per share growth," added Martin.
For earnings history and earnings-related data on Voya Financial (VOYA) click here.