NYSE$JXN
Jackson Financial Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Jackson Financial Inc. reported a net loss due to larger hedging losses, but demonstrated progress in strategic goals with increased RILA sales and shareholder returns.
Jackson Financial Inc. reported a net loss of $1,497 million, primarily due to hedging losses. However, the company saw growth in RILA sales and returned $124 million to shareholders. They remain on track to achieve their 2023 capital return target.
- Net loss attributable to Jackson Financial Inc. was $(1,497) million, or $(18.11) per diluted share.
- Adjusted operating earnings were $271 million, or $3.15 per diluted share, a 28% decrease from Q1 2022.
- Returned $124 million to common shareholders through share repurchases and dividends.
- First quarter RILA sales increased to $533 million, up from $199 million in the first quarter of 2022.
Headline financials
Revenue & EPS history
Jackson · Revenue · Quarterly
-$749M
Revenue by segment
Jackson · $302M total across 4 segments · Q1 2023
- Retail Annuities$356M—117.9%
- Institutional Products$9M—3.0%
- Closed Life and Annuity Blocks-$20M—-6.6%
- Corporate and Other-$43M—-14.2%
Forward guidance
Jackson is confident in its ability to achieve its 2023 key financial targets and create value for shareholders over the long-term, maintaining financial flexibility with a strong RBC ratio and holding company liquidity.
Tailwinds
- On track with strategic and operational goals.
- Returned $124 million to common shareholders, a strong start toward the 2023 capital return target of $450-550 million.
- Significant financial flexibility with an estimated operating company RBC ratio within the target range.
- Over $1.5 billion of liquidity at the holding company.
- Successful issuance of preferred stock in the first quarter, raising $533 million of net proceeds.
Headwinds
- Ongoing market volatility.
- Net income (loss) attributable to Jackson Financial Inc. of $(1,497) million.
- Adjusted operating earnings down 28% from the first quarter of 2022.
- Decline in annuity account values.
- Higher interest crediting rates on variable annuity fixed rate options.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+2.2%
Avg return
Earnings day
+4.3%
Avg return
5 days after
+8.1%
Avg return
30 days after
63%
15 / 24 earnings
Positive
+20.0%
Q3 2020
Best reaction
-21.4%
Q1 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.0% | +0.9% | -1.0% | |
| Q4 2025 | -2.7% | -6.4% | -11.9% | |
| Q3 2025 | -7.3% | -7.4% | -2.2% | |
| Q1 2025 | +1.8% | +7.4% | +0.5% | |
| Q4 2024 | -8.8% | -9.3% | -8.5% | |
| Q3 2024 | +10.5% | +12.8% | -2.5% | |
| Q2 2024 | +10.9% | +10.8% | +10.0% | |
| Q1 2024 | +7.9% | +3.3% | +0.3% | |
| Q4 2023 | +1.5% | +2.6% | +24.9% | |
| Q3 2023 | +9.9% | +8.7% | +21.8% | |
| Q2 2023 | +1.8% | +8.9% | +14.2% | |
| Q1 2023 | -17.9% | -17.4% | -15.2% | |
| Q4 2022 | -5.7% | -1.9% | -1.7% | |
| Q3 2022 | +15.6% | +18.1% | +13.6% | |
| Q2 2022 | +14.4% | +19.2% | +12.7% | |
| Q1 2021 | -21.4% | -11.2% | -15.7% | |
| Q1 2022 | -20.6% | -18.6% | -16.8% | |
| Q4 2019 | -3.1% | +3.4% | +10.1% | |
| Q4 2021 | +10.1% | -4.4% | +15.1% | |
| Q4 2020 | +20.0% | +24.0% | +42.1% | |
| Q3 2020 | +20.0% | +24.0% | +42.1% | |
| Q3 2021 | +9.3% | +19.0% | +36.0% | |
| Q2 2020 | +4.4% | +9.8% | +13.7% | |
| Q2 2021 | +5.7% | +6.8% | +13.8% | |
| Q1 2020 | — | — | — |
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