Jackson Financial Inc Reports SecondQuarter 2024 Financial Results
Jackson Financial Inc. Reports Second-Quarter 2024 Financial Results
Jackson Financial Inc. (Jackson Financial) has announced its financial results for the quarter ended June 30, 2024.
Key Financial Metrics
Metric | Q2 2024 | Q2 2023 | YoY % Change | Consensus Estimates Q2 2024 |
---|---|---|---|---|
Total Revenue | $1.72B | $1.39B | +23.7% | $1.7B |
Earnings Per Share (EPS) | $4.33 | $5.43 | -20.2% | $4.36 |
Interpretation: The total revenue of Jackson Financial for Q2 2024 was $1.72 billion, marking a 23.7% year-over-year increase, surpassing the consensus estimate of $1.7 billion. However, the quarterly EPS was slightly below the consensus estimate ($4.33 vs. $4.36), also reflecting a 20.2% year-over-year decrease. This indicates robust revenue growth but challenges in maintaining profit margins.
Share Repurchase Program
Jackson Financial repurchased a total of 1,294,473 shares and 3,451,845 shares of common stock at an aggregate purchase price of $90 million and $206 million during Q2 2024 and H1 2024, respectively. On August 1, 2024, the Board authorized an additional $750 million for repurchasing outstanding common shares, increasing the total authorization to $806 million.
Stock Price Movement
Following the earnings release, Jackson Financial’s stock saw an increase of approximately 0.85%.
In conclusion, Jackson Financial's Q2 2024 results show impressive revenue growth and significant share repurchase activity, despite a slight shortfall in EPS compared to consensus estimates. The company's ability to continue this performance will be closely watched in the coming quarters, especially given the fluctuations in EPS.
Genasys Inc Reports Fourth Quarter and Full Year Fiscal 2024 Financial Results
Toll Brothers Reports Fourth Quarter and Full Year 2024 Financial Results
OilDri Corporation of America Reports Record First Quarter Fiscal 2025 Results
Share