Voya Financial (VOYA) Misses Q2 EPS by 18c

Voya Financial (NYSE: VOYA) reported Q2 EPS of $0.67, which may note compare to the analyst estimate of $0.85.

"During the quarter, we generated strong business growth, including increased deposits and positive net flows, as a result of our expanded distribution and increased productivity, and we benefited from the capital efficiencies that we have achieved," said Rodney O. Martin, Jr., chairman and chief executive officer, Voya Financial. "We remain focused on executing all parts of our plan to achieve our 2018 targets for our businesses. This includes delivering on our growth objectives, in part by improving customer experiences, and achieving our cost saving targets. In line with our focus on making effective use of excess capital, we continued to drive shareholder value by repurchasing $375 million of our shares during the second quarter. Equally important, our CBVA hedge program also continued to protect regulatory and rating agency capital during the quarter and we will be taking further actions to accelerate the run-off of the block.

"Our employees and their values are key to our success. In May, Voya held its fourth-annual National Day of Service, during which thousands of our employees across the country volunteered 13,400 hours to benefit more than 200 nonprofit organizations dedicated to a variety of great causes. This effort illustrates the strong culture we've created and is just one of the initiatives we undertake as a way to demonstrate our values. Overall, we are encouraged by our momentum and are excited about the opportunities we have to help Americans plan, invest and protect their savings while also delivering greater value for our employees, distribution partners and shareholders," said Martin.

For earnings history and earnings-related data on Voya Financial (VOYA) click here.

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