Voya Financial Q4 EPS Misses Estimates by 8% as Revenues Rise 5.7%
Voya Financial reported Q4 adjusted operating EPS of $1.94, missing estimates by 8% despite a 38.5% year-over-year gain, with revenues rising 5.7% to $2.0 billion and AUM totaling $1.1 trillion. Shares have slid 3.2% since the release as analysts cut estimates.
1. Q4 Financial Results
Voya Financial reported adjusted operating earnings per share of $1.94 for Q4 2025, marking a 38.5% year-over-year increase but falling 8% short of consensus. Revenues rose 5.7% to $2.0 billion, driven by $591 million net investment income (+13.4%) and $633 million fee income (+16.5%), while premiums declined 6.5% to $738 million.
2. Segment Performance
The Retirement segment generated $255 million in pre-tax adjusted earnings, up 21.4% due to the OneAmerica acquisition and $28 billion in organic defined contribution inflows. Employee Benefits narrowed its pre-tax adjusted loss to $10 million from $102 million a year prior, Investment Management earnings rose 9% to $72 million, and Corporate losses widened to $90 million.
3. Capital Position and Shareholder Returns
At quarter-end Voya held $1.2 billion in cash and $38.5 billion in investments, with long-term debt down 27.8% to $1.5 billion and leverage at 27%. The company returned $164 million to shareholders via $120 million in share repurchases and $44 million in dividends, and retains $562 million in buyback authorization.
4. Stock Reaction and Analyst Outlook
Shares have declined 3.2% since the earnings release as analysts have cut estimates. The stock holds a D VGM Score with poor growth and momentum but strong value, and carries a Hold rating with projected in-line returns.