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JXN NYSE· Jackson Financial Inc.
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JXN NYSE· Jackson Financial Inc.
Earnings report Q4 2023

Jackson Financial Inc. Reports Decrease in Total Sales for Latest Quarter

Segments of revenue

In the latest quarter, Jackson Financial Inc. reported total sales of $13.9 billion, representing a decrease from the previous quarter's total sales of $18.1 billion. The company's assets under management (AUM) stood at $315.8 billion, compared to $290.5 billion in the previous quarter. The AUM increase was primarily driven by positive equity market returns, resulting in higher separate account balances managed by Jackson National Asset Management (JNAM).

Strengths

Despite the decrease in total sales, Jackson Financial Inc. has demonstrated a track record of generating profitable growth and earning attractive returns. The company's adjusted operating earnings for the latest quarter were $1.1 billion, reflecting a solid financial performance. Additionally, Jackson Financial Inc. has shown a commitment to long-term capital return to shareholders through its share repurchase plan and shareholder dividends.

Challenges

One of the challenges faced by Jackson Financial Inc. in the latest quarter was the decrease in total sales. This decline may be attributed to various factors, including macroeconomic and financial market conditions. The company acknowledges the impact of these trends and uncertainties on its future business performance, investments, cash flows, and capital and liquidity position.

Noteworthy

It is noteworthy that Jackson Financial Inc. experienced a decrease in net income attributable to common shareholders in the latest quarter, with a reported figure of $899 million. This is a significant decline compared to the previous quarter's net income of $6.2 billion. The company's return on equity (ROE) attributable to common shareholders also decreased from 69.7% to 10.3% in the latest quarter.

Summary

Jackson Financial Inc. faced a decline in total sales and net income attributable to common shareholders in the latest quarter. However, the company's strengths lie in its ability to generate profitable growth and earn attractive returns. The increase in assets under management, driven by positive equity market returns, showcases the company's strong performance in managing separate account balances. Jackson Financial Inc. acknowledges the challenges posed by macroeconomic and financial market conditions, which may have contributed to the decrease in revenue. Overall, the company's long-term commitment to capital return to shareholders and its solid financial profile position it well for future growth and performance.

Source documents

Form 10-K  filed on Feb 28, 2024
11 pages scanned

Reference data

Company financials Q4 revenue -322M
Analyst estimates Q4 EPS missed by -100.00%
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