Jackson Financial Earnings Call Transcripts
Fiscal Year 2026
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Q3 adjusted EPS was $7.55, with record annuity sales and growing spread-based earnings. Nine-month free cash flow rose 18% to $850 million, supporting shareholder returns and the $1.2 billion full-year free capital generation target.
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Record Q2 results featured 55% EPS growth, robust capital generation, and record annuity sales, supported by strong equity markets and disciplined spread-based business expansion. Management transitions were announced, and liquidity and capital positions remain strong.
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Strong first quarter results featured 12% growth in pre-tax operating earnings and 31% retail annuity sales growth, with robust capital generation and liquidity. Strategic partnerships and product innovation support confidence in meeting 2026 targets.
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A strategic partnership with TPG and the formation of Hickory Re are set to accelerate growth in spread-based annuities, enhance investment yields, and improve capital efficiency. The initiatives are expected to drive higher sales, increased free cash flow, and greater shareholder returns.
Fiscal Year 2025
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Surpassed 2025 financial targets with record annuity sales, strong free capital generation, and robust capital returns. Strategic partnership with TPG and new product launches drive growth and diversification, while 2026 guidance targets further increases in capital generation and shareholder returns.
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Q3 2025 saw record retail annuity sales, robust capital generation, and a 27% rise in adjusted EPS. RILA and variable annuity growth, strong fee income, and disciplined risk management drove results. Capital return is on track to exceed targets, with a $1B share repurchase increase.
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Q2 2025 saw robust annuity sales, strong capital generation, and improved net outflows, with RILA products driving growth and a 5% increase in adjusted EPS. Capital return and liquidity remain high, supporting continued shareholder returns and business expansion.
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Adjusted operating earnings rose 13% to $376 million, with EPS up 25% year-over-year, driven by strong annuity sales and disciplined capital management. The RBC ratio increased to 585%, and over $230 million was returned to shareholders, with free capital generation on track to exceed $1 billion for 2025.
Fiscal Year 2024
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Record 2024 results included net income over $900 million, $1.4 billion in adjusted operating earnings, and a 39% increase in retail annuity sales. Capital return to shareholders rose 36%, with a 2025 target of $700–$800 million and continued strong capital generation.
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Third quarter saw record annuity sales, strong capital generation, and robust earnings growth, supported by product innovation and expanded distribution. Capital return is on track for the upper end of guidance, with continued financial strength and stability from Brooke Re.
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Q2 2024 saw strong earnings and capital growth, with adjusted operating earnings up 45% year-over-year and record RILA sales. Capital return to shareholders increased, and the company remains on track to meet full-year targets, supported by robust market and industry trends.