Voya Financial reports Q3 after-tax adjusted EPS $1.74, consensus $2.07

“In the third quarter of 2023, we continued to execute on our strategic priorities and delivered $1.74 per diluted share of after-tax adjusted operating EPS, which reflects the benefit of our diversified revenue streams and prudent expense management,” said Heather Lavallee, chief executive officer, Voya Financial. “During the quarter, we drove further commercial momentum in each of our businesses; we maintained a strong focus on margins; and we deployed further excess capital generated by our high free-cash-flow businesses. Despite macroeconomic headwinds, we continue to execute on our strategy and – as a result of our strong client relationships and engagement – we are confident in our ability to continue to drive commercial momentum, while also closely managing spending and prudently deploying capital. These elements give us confidence in our Investor Day target of 12% to 17% EPS growth through the three-year period ending in 2024. Underpinning our accomplishments are our purpose and vision, which we activate by serving the needs of our clients, as well as supporting our colleagues and our communities. For example, in the third quarter, we expanded our critical illness and accident insurance products to offer new benefits and coverage that focus on mental health; we earned further recognition as a best place to work; and Voya employees positively impacted our communities by raising more than $1.5 million for 1,900 charitable causes through our annual Employee Giving Campaign.”