NYSE$FG
F&G Annuities & Life Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
F&G reported a net loss but adjusted net earnings increased driven by sales growth and strong investment returns.
F&G Annuities & Life reported a net loss of $10 million for Q3 2024, but adjusted net earnings were $156 million, up from $120 million in Q3 2023. Gross sales increased by 39% year-over-year, driven by record retail channel sales. Assets under management before flow reinsurance reached a record $62.9 billion.
- Gross sales of $3.9 billion, an increase of 39% over the third quarter 2023, primarily driven by record retail channel sales
- Assets under management before flow reinsurance of $62.9 billion, an increase of 20% over the third quarter 2023
- Adjusted return on assets expansion above baseline of 110 basis points
- Returned $31 million of capital to shareholders from common and preferred dividends
Headline financials
Revenue & EPS history
F&G Annuities & Life · Revenue · Quarterly
$1.44B
Revenue by segment
F&G Annuities & Life · $1.36B total across 4 segments · Q2 2025
- Interest and investment income$682M—50.0%
- Life insurance premiums and other fees$608M—44.6%
- Recognized gains and (losses), net$51M—3.7%
- Owned distribution revenues$23M—1.7%
Forward guidance
F&G is well-positioned for the remainder of the year and continues to make great progress toward Investor Day targets.
Tailwinds
- Profitably grown assets under management before flow reinsurance to a record $62.9 billion
- Gross sales increased 39% over the third quarter of 2023
- Record retail sales of $3.5 billion, nearly double the third quarter of 2023
- Benefit from consumers wanting to secure the relatively higher interest rates, guaranteed tax deferred growth and principal protection that annuity products offer
- Seeing a healthy PRT pipeline with some significant early wins in the fourth quarter
Headwinds
- General economic conditions
- Prevailing interest and unemployment rate levels and stock and credit market performance
- Natural disasters, public health crises, international tensions and conflicts, geopolitical events, terrorist acts, labor strikes, political crisis, accidents and other events
- The impact of interest rate fluctuations
- Equity market volatility or disruption
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 Q3 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 |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| 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% | |
| Q3 2021 | — | — | — | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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