Jackson Financial Incorporation(DE:8WF)
€122.40+3.90 (+3.29%)
DE:8WF
Jackson Financial Incorporation earnings date
€122.40
At close:+3.90 (+3.29%)
Jackson Financial Incorporation (8WF) Q3 2026 Earnings Report
2 Followers
DE:8WF Q3 2026 EPS Results
- Actual EPS
- EUR 6.80
- Consensus EPS
- EUR 6.53
- Beat/Miss
- Beat by +EUR 0.28
- One Year Ago EPS
- EUR 5.55
DE:8WF Q3 2026 Revenue Results
- Actual Revenue
- EUR 1.39B
- Expected Revenue
- EUR 1.86B
- Beat/Miss
- Missed by -EUR 471.63M
- YoY Revenue Growth
- +8.90%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/03/2026
- Time
- After Close
- Conference Call
- Tuesday, November 3, 2026
DE:8WF Upcoming Earnings
Jackson Financial Incorporation's next earnings date is estimated for February 24, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:8WF Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was predominantly positive. Jackson reported strong earnings growth, record retail and RILA sales, improving net flows, expanding distribution, robust capital generation, substantial liquidity, and confidence in achieving its full-year targets. The main challenges were higher surrenders and expected lapse rates, limited partnership underperformance, market-related hedge losses and liquidity considerations at Brooke Re, and capital requirements associated with rapid FIA growth. Management characterized these issues as actively monitored while maintaining confidence in the overall enterprise and financial flexibility.
Company Guidance
Jackson expects to achieve its full-year free capital generation target of $1.2 billion and deliver on its capital return to shareholders target range of $900 million-$1.1 billion, with capital return currently expected to be at or above the midpoint of that range; it remains confident in achieving at least $1.2 billion of free capital generation for the full year, maintains an RBC risk appetite of 425%, expects continued RILA growth, expects to launch the AARP Annuity Program initially in 10 states later this month with national availability targeted for the first half of 2027, expects the magnitude of the RBC-related headwind to moderate absent a further meaningful increase in sales, and would expect modestly higher lapse rates.
- Strong Quarterly Earnings and Year-to-Date GrowthThird-quarter adjusted operating earnings were $7.55 per diluted share. Pretax adjusted operating earnings were $612 million, or $631 million excluding notable items. On an ex-notables basis, earnings increased 24% year over year, while adjusted operating earnings increased 20% through the first nine months of 2026. Adjusted operating earnings per diluted share, excluding $0.24 of notable items and normalized to the 15% tax guidance, was $7.67, up 28% year over year.
- Record Retail Annuity Sales and Product DiversificationThird-quarter retail annuity sales exceeded $6.5 billion, a record and a 22% increase from the prior-year quarter. Total retail sales increased 11% from the second quarter, and spread-based products represented 58% of sales, with nearly 60% cited elsewhere in the presentation.
- RILA Sales and Assets Reached Record LevelsThird-quarter RILA sales reached a record $3 billion, up 44% year over year, while RILA assets grew to nearly $29 billion since the 2021 launch. Market Link Pro 4 and Market Link Pro Advisory 4 were launched in June and were described as the first industry RILA products to offer an option linked to the Dow Jones Industrial Average.
- Growth in Fixed and Fixed Index AnnuitiesFixed and fixed index annuity account values increased 64% over the past 12 months to $7.1 billion. Total fixed and fixed indexed annuity sales were $796 million, up 79% year over year. Jackson also launched Jackson Fixed Index Accumulation and Jackson Fixed Index Accumulation Advisory, offering five index options and four crediting methods.
- Improving Non-Variable Annuity Net FlowsNon-variable annuity net inflows were $3.5 billion, up 52% year over year and 20% sequentially, supported by strong RILA and other spread-based sales. Total retail annuity net outflows improved for the third consecutive quarter and declined 22% through the first nine months compared with the prior-year period.
- Strong Account Value and Fee Income BaseCombined account value across retail annuities and institutional products exceeded $291 billion, increasing 4% from the prior-year quarter. Year-to-date separate account returns were 9.3%, generating more than $17 billion of investment gains in variable annuity assets; those gains exceeded net outflows by more than $2 billion and supported fee income.
- Distribution Expansion and Advisor EngagementJackson added nearly 2,500 new advisors and reactivated more than 3,500 advisors who had not recently sold a Jackson product. About 55% of producers selling Jackson Income Assurance were either new to Jackson or recently reactivated. In the advisory channel, RILA, FIA, and Elite Access represented approximately 80% of year-to-date advisory annuity sales.
- AARP Exclusive Annuity PartnershipJackson was named the exclusive annuity provider for AARP members. The AARP Annuity Program is expected to launch initially in 10 states in mid-November, with national availability targeted for the first half of 2027. The digital, direct-to-consumer program will initially focus on fixed and spread products.
- Capital Generation and Shareholder ReturnsThrough the first nine months of 2026, free cash flow increased 18% to $850 million, while Jackson returned $838 million to shareholders through dividends and share repurchases. Third-quarter free cash flow was $275 million, up 27% year over year, and capital returns to common shareholders were $291 million, up 42% on a per-diluted-share basis from the prior-year quarter.
- Strong Capital Position and Full-Year TargetsTotal adjusted capital was $5.9 billion at quarter-end, up 5% from the prior-year quarter. The estimated RBC ratio was 524%, above the 425% risk-appetite level. Management remained confident in achieving at least $1.2 billion of full-year free capital generation and a $900 million-$1.1 billion capital return range, with capital return expected to be at or above the midpoint.
- Liquidity and Leverage FlexibilityJackson Financial had approximately $4 billion of available liquidity, while Jackson National Life maintained nearly $32 billion of available liquidity and an additional $2.3 billion of borrowing capacity through its Federal Home Loan Bank relationship. The revolving credit facility was expanded from $1 billion to $1.25 billion and extended from 2028 to 2031. Total leverage was approximately 23%, or approximately 18% after the planned retirement of 2027 maturities.
- Spread-Based Earnings and Investment PartnershipsSpread-based earnings continued to grow, with net investment income increasing meaningfully year over year as spread-based assets under management expanded. PPM's asset sourcing capabilities and the strategic partnership with TPG supported new money yields and broadened investment opportunities. PPM America’s assets under management approached $102 billion.
- Improved Return on EquityAdjusted operating return on equity for the trailing 12 months ended September 2026 was 17.1%, up from 13.6% a year earlier. Management attributed the improvement to the resilience and earnings power of the business as the sales mix and balance sheet diversified.
- Conservative Investment PortfolioThe fixed maturity portfolio was described as high quality and defensively positioned, with U.S. Treasuries representing approximately 7% of the portfolio and below-investment-grade securities representing just 1%. Corporate securities represented roughly 56% of invested assets, while combined exposure to hyperscaler, data center, and AI investments was less than 2% of the general account.
- Brooke Re Hedging and Policyholder ProtectionManagement said Brooke Re has supported market-neutral economic management of variable annuity guarantees, reduced the need for non-economic hedging, and produced more consistent results. Since formation, Brooke Re’s cumulative fees have exceeded required settlement payments, hard assets have increased from the initial $700 million capitalization, and its capitalization remained above internal and regulatory minimums.
- Historical Growth and Capital Return Track RecordSince becoming a standalone public company, Jackson has generated more than $88 billion in retail annuity sales, nearly $8 billion in cumulative adjusted operating earnings, and nearly $5 billion of free capital generation. It has returned more than $3.5 billion to shareholders, repurchased nearly 30% of its initial share count, increased its dividend every year since 2021 to $0.90 per share, and reported that its stock price increased nearly 400% over five years.
DE:8WF Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 24, 2027 | 2026 (Q4) | 6.87- | 5.96 | ― | ― |
| Nov 03, 2026 | 2026 (Q3) | 6.536.80 | 5.55 | 22.56% (+1.25) | |
| Aug 03, 2026 | 2026 (Q2) | 5.156.58 | 4.39 | 49.90% (+2.19) | |
| May 05, 2026 | 2026 (Q1) | 5.374.64 | 4.6 | 0.98% (+0.05) | |
| Feb 18, 2026 | 2025 (Q4) | 5.285.96 | 4.19 | 42.15% (+1.77) | |
| Nov 04, 2025 | 2025 (Q3) | 4.915.55 | 4.15 | 33.91% (+1.41) | |
| Aug 05, 2025 | 2025 (Q2) | 4.184.39 | 4.79 | -8.46% (-0.41) | |
| May 07, 2025 | 2025 (Q1) | 4.444.60 | 3.81 | 20.57% (+0.78) | |
| Feb 19, 2025 | 2024 (Q4) | 4.404.19 | 2.28 | 83.79% (+1.91) | |
| Nov 06, 2024 | 2024 (Q3) | 4.214.15 | 3.42 | 21.05% (+0.72) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
