Voya Financial Inc earnings matched, revenue topped estimates

Voya Financial, Inc. (NYSE:VOYA) reported Q3 results that met analyst expectations with earnings per share matching consensus, while revenue exceeded forecasts albeit down 5% year-over-year. CEO Heather Lavallee noted strong performance across businesses, citing commercial momentum in Retirement and Investment Management, margin improvement in Employee Benefits, and disciplined expense management.

The Retirement segment saw pre-tax adjusted operating earnings rise to $266 million, while Employee Benefits earnings increased to $51 million, partly due to a $12 million favorable assumption update. Investment Management earnings fell to $58 million, mainly from lower investment capital income. The company returned $150 million to shareholders via dividends and share repurchases, with $25 million in severance expenses tied to cost-cutting measures.