Earnings for investment and insurance company Voya Financial’s (NYSE:VOYA) fourth quarter of 2019 have VOYA stock up after markets closed on Monday. This is thanks to its adjusted earnings-per-share of $1.19, well above Wall Street’s estimate of $1.10 for the quarter.
Here’s what else is worth mentioning from the most recent Voya Financial earnings report.
- Adjusted per-share earnings for the quarter are down 16.67% from $1.32 during the same period of the year prior.
- The Voya Financial earnings report also includes a net loss of -$776 million.
- That’s a major switch compared to a net income of $121 million reported during the fourth quarter of 2018.
- The company notes that the decline comes from the divestment of its Individual Life business, as seen in the loss from discontinued operations.
- It also mentions that other closed blocks of its business affected that number.
Rodney O. Martin, Jr., Chiarman and CEO of Voya Financial, has this to say about the VOYA stock earnings report.
“In 2019, we made strong progress on our organic growth objectives across our Retirement, Investment Management and Employee Benefits businesses, which are core to our strategy and plans for continued growth.”
The Voya Financial earnings report doesn’t include an outlook for 2020. Even so, we know what Wall Street is expecting. It’s looking for adjusted EPS of $4.90 on revenue of $1.04 billion for the year.
VOYA stock was up 2.04% after-hours Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
