earnings
confidence high
sentiment neutral
materiality 0.70
Jackson Financial Q2 2023: $1.2B net income, $283M adj. operating earnings, $100M returned to shareholders
Jackson Financial Inc.
2023-Q2 EPS reported
$36.59
revenue$6,694,000,000
- Q2 adjusted operating earnings $283M ($3.34 diluted EPS) vs $407M ($4.56) YoY; ex-notable items $3.54 EPS.
- Net income $1.2B driven by $1,097M net hedge gain; total retail annuity sales $3.1B, RILA $541M.
- Returned $100M to shareholders: $47M share repurchases + $53M dividends; Q3 dividend $0.62/share declared.
- Estimated RBC ratio improved from Q1, within 425–500% target; FY23 capital return target $450–550M reaffirmed.
- Notable items included $25M allowance for reinsurance credit loss on a liquidating counterparty.