NYSE$FG
F&G Annuities & Life Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
F&G reported strong first quarter results driven by sales growth and solid investment performance.
F&G Annuities & Life reported a net income of $111 million for Q1 2024, a significant improvement compared to the net loss of $195 million in Q1 2023. Adjusted net earnings were $108 million, or $0.86 per share, compared to $61 million, or $0.49 per share, for the same period last year. The company experienced growth in gross sales, reaching $3.5 billion, and record assets under management of $49.8 billion.
- Gross sales increased by 6% year-over-year to $3.5 billion, driven by strong retail and institutional market sales.
- Assets under management reached a record $49.8 billion, up 10% from the prior year quarter.
- Adjusted net earnings were $108 million, or $0.86 per share, compared to $61 million, or $0.49 per share in Q1 2023.
- The company's adjusted return on assets remained above the baseline of 110 basis points.
Headline financials
Revenue & EPS history
F&G Annuities & Life · Revenue · Quarterly
$1.57B
Revenue by segment
F&G Annuities & Life · $519M total across 1 segment · Q1 2023
- Interest and investment income$519M—100.0%
Forward guidance
F&G is confident in its outlook for double digit gross sales growth in 2024 and expects its recently launched RILA product to become a significant contributor to sales over the next few years.
Tailwinds
- Confident in outlook for double digit gross sales growth in 2024.
- Expects recently launched RILA product to become a significant contributor to sales over the next few years.
- Differentiated offering and strong distribution partnerships will help take share in this large and fast growing market.
- Ability to deliver robust growth and returns through both low and rising interest rate environments.
- Confident in ability to drive further margin expansion through improved investment margin opportunities and expense leverage as we scale our organization further.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-1.2%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+2.6%
Avg return
30 days after
42%
8 / 19 earnings
Positive
+18.3%
Q3 2022
Best reaction
-17.7%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -8.2% | -5.4% | -5.6% | |
| Q4 2025 | -8.4% | -15.8% | -14.8% | |
| Q3 2025 | +2.5% | +11.4% | +12.9% | |
| Q1 2025 | -14.6% | -13.2% | -7.5% | |
| Q4 2024 | -8.7% | -4.8% | -21.2% | |
| Q3 2024 | +11.1% | +15.9% | +14.8% | |
| Q2 2024 | +0.4% | +0.2% | +8.9% | |
| Q1 2024 | -1.0% | -4.3% | -3.4% | |
| Q4 2023 | -10.7% | -11.0% | -11.5% | |
| Q3 2022 | +18.3% | +13.8% | +36.0% | |
| Q3 2023 | +15.3% | +16.8% | +40.5% | |
| Q2 2023 | -1.9% | +8.1% | -4.9% | |
| Q1 2022 | +0.1% | +4.5% | +33.1% | |
| Q1 2023 | -17.7% | -7.8% | +18.7% | |
| Q2 2022 | +5.2% | +4.1% | +14.7% | |
| Q2 2020 | -3.1% | -2.8% | -15.7% | |
| Q4 2020 | -3.1% | -2.8% | -15.7% | |
| Q4 2021 | -3.1% | -2.8% | -15.7% | |
| Q4 2022 | +4.2% | +2.1% | -14.1% | |
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