Voya Financial Reports Fourth-Quarter and Full-Year 2024 Financial Results
NEW YORK–(Business Wire)–
Voya Financial, Inc. (NYSE: VOYA) recently announced its financial results for the fourth quarter and full year ending December 31, 2024. The company reported a net income available to common shareholders of $93 million, or $0.94 per diluted share, for the fourth quarter. After-tax adjusted operating earnings were $138 million, or $1.40 per diluted share. For the full year 2024, net income available to common shareholders was $626 million, or $6.17 per diluted share, and after-tax adjusted operating earnings were $736 million, or $7.15 per diluted share.
Impact on Voya Financial Shareholders
The fourth-quarter and full-year 2024 financial results represent a decrease in net income and earnings per share compared to the same periods in the previous year. In the fourth quarter of 2023, Voya Financial reported net income available to common shareholders of $152 million, or $1.53 per diluted share, and after-tax adjusted operating earnings of $182 million, or $1.85 per diluted share. Similarly, for the full year 2023, the company reported net income available to common shareholders of $812 million, or $8.02 per diluted share, and after-tax adjusted operating earnings of $948 million, or $9.26 per diluted share.
The decrease in earnings may be attributed to various factors, including increased expenses and lower investment income. However, it is essential to note that earnings per share can be influenced by factors such as share buybacks and stock issuances. Voya Financial’s stock price reacted negatively to the earnings report, with shares falling by more than 5% in after-hours trading.
Impact on Consumers and the World
Voya Financial’s financial performance may have indirect impacts on consumers and the world. As a leading retirement, investment, and insurance solutions provider, the company’s financial strength and stability are crucial for its customers’ peace of mind and financial security. A decrease in earnings may raise concerns about the company’s ability to meet its obligations and pay claims to policyholders and retirees.
Moreover, the financial results may impact the broader financial industry and the economy. Voya Financial’s performance is closely watched by investors, and any significant changes can influence market sentiment and investor confidence. Additionally, the company’s financial results can have ripple effects on other industries, such as real estate and healthcare, which may rely on Voya Financial’s retirement income solutions for their customers.
Conclusion
Voya Financial’s fourth-quarter and full-year 2024 financial results showed a decrease in net income and earnings per share compared to the same periods in the previous year. The company attributed the decrease to increased expenses and lower investment income. The financial results may have indirect impacts on consumers and the world by raising concerns about the company’s ability to meet its obligations and pay claims to policyholders and retirees. Additionally, the financial results may influence investor sentiment and have ripple effects on other industries.
- Voya Financial reported net income available to common shareholders of $93 million, or $0.94 per diluted share, for the fourth quarter of 2024.
- After-tax adjusted operating earnings were $138 million, or $1.40 per diluted share.
- For the full year 2024, net income available to common shareholders was $626 million, or $6.17 per diluted share, and after-tax adjusted operating earnings were $736 million, or $7.15 per diluted share.
- The financial results represented a decrease in net income and earnings per share compared to the same periods in the previous year.
- The decrease in earnings may be attributed to increased expenses and lower investment income.
- The financial results may have indirect impacts on consumers and the world by raising concerns about the company’s ability to meet its obligations and pay claims to policyholders and retirees.
- The financial results may influence investor sentiment and have ripple effects on other industries.
