Jackson Financial reports Q4 adjusted EPS $2.53, consensus $3.46

Reports Q4 revenue $892M, one estimate $1.64B. Laura Prieskorn, President and Chief Executive Officer of Jackson, stated, “2023 was a fantastic year of execution for Jackson, with our financial performance highlighting the strong fundamentals of our business. Our recently enhanced RILA suite produced record sales of more than $1 billion in the fourth quarter as we continue to focus on expanding our distribution in this rapidly growing segment of the annuity market. We are proud to have achieved our financial targets for the third year in a row by returning $464 million to common shareholders in 2023, ending the year with an estimated RBC ratio well above the top end of our range, along with strong levels of excess cash at the holding company. I am also very pleased that we have executed on a long-term solution to the cash surrender value challenge by establishing and funding a new Michigan based captive reinsurer, Brooke Re, in January. We believe this innovative strategic transaction will allow us to optimize our hedging, stabilize capital generation, and produce more predictable financial results going forward. This positive development, along with our healthy and profitable book of business, gives us confidence in our $550-650 million capital return target for 2024 and positions us well to deliver on our ongoing purpose of helping Americans build financial freedom for life.”