Voya Financial, Inc. (VOYA) Misses Q1 EPS by 8c
Voya Financial, Inc. (NYSE: VOYA) reported Q1 EPS of $0.57, $0.08 worse than the analyst estimate of $0.65. Revenue for the quarter came in at $268 million versus the consensus estimate of $307.41 million.
Net income available to common shareholders of $258 million, or $0.98 per diluted share, compared with a loss of $212 million, or $(0.92) per share in the first quarter of 20133. First quarter 2014 net income available to common shareholders includes the Closed Block Variable Annuity (CBVA) segment's after-tax income of $13 million, which includes an after-tax gain of $19 million related to nonperformance risk. The CBVA segment includes the effect of its hedge program, which focuses on protecting regulatory and rating agency capital from market movements, rather than minimizing GAAP earnings volatility.
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