VOYA FINANCIAL Reports Second Quarter Earnings for Fiscal Year 2023
August 9, 2023
🌥️Earnings Overview
On August 1 2023, VOYA FINANCIAL ($NYSE:VOYA) announced its financial results for the second quarter of fiscal 2023, which ended on June 30 2023. Total revenue was reported at USD 1726.0 million, a 22.9% increase compared to the same period last year. Net income was USD 158.0 million, a 132.4% surge from the same quarter in the previous year.
Stock Price
On Tuesday, VOYA FINANCIAL reported its second quarter earnings for the fiscal year 2023. The stock opened at $73.8 and closed at $74.4, up by 0.2% from the last closing price of $74.3. This marks a positive end to the second quarter for VOYA FINANCIAL, which had a strong showing across the board.
Overall, the second quarter results show that VOYA FINANCIAL is a strong contender in the financial sector and investors can trust in its performance going forward. The stock’s performance also reflects this confidence, as it has steadily increased since its opening. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Voya Financial. More…
| Total Revenues | Net Income | Net Margin |
| 6.38k | 606 | 10.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Voya Financial. More…
| Operations | Investing | Financing |
| 1.15k | -1.95k | 28 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Voya Financial. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 154.62k | 149.09k | 34.88 |
Key Ratios Snapshot
Some of the financial key ratios for Voya Financial are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -3.2% | – | 11.8% |
| FCF Margin | ROE | ROA |
| 18.0% | 12.3% | 0.3% |
Analysis
We at GoodWhale recently performed an analysis on VOYA FINANCIAL in order to assess its wellbeing. According to our Star Chart, VOYA FINANCIAL is classified as a ‘cow’, meaning it has a track record of paying out consistent and sustainable dividends. This makes VOYA FINANCIAL an attractive investment for those who are looking for a steady income stream. When it comes to its health score, VOYA FINANCIAL scored 7/10 considering its cashflows and debt, therefore indicating that it is capable of riding out any economic downturn without the risk of bankruptcy. Although VOYA FINANCIAL is strong in dividend, it weak in terms of asset, growth, and profitability. However, despite its weaknesses, VOYA FINANCIAL is still a viable option for investors who are looking for a reliable and steady income stream. More…
Peers
These companies all strive to offer the best services and products to their customers, and the competition between them is intense. Each company is determined to outpace its rivals in terms of innovation, customer service, and cost-effectiveness, making for an exciting and dynamic market.
– ClearView Wealth Ltd ($ASX:CVW)
ClearView Wealth Ltd is an Australian-based financial services company that offers a wide range of products and services including life insurance, general insurance, investment solutions, and financial advice. As of 2022, the company has a market capitalization of 297.47 million, reflecting the collective value of its shares. Its Return on Equity (ROE) is 1.37%, indicating the company has generated a positive return on the funds invested by its shareholders. The company has provided investors with stable returns while maintaining a solid balance sheet. ClearView Wealth Ltd is well-positioned to continue to offer its customers quality products and services in the future.
– Harel Hamishmar Investment Ltd ($OTCPK:HAHRF)
Speedage Commercial Ltd is a multinational corporation that provides a wide range of services and products related to the logistics industry. The company has a market cap of 9.31M as of 2022, which is considered to be a quite large market cap for a logistics company. The Return on Equity (ROE) of 1.9% indicates that the company has been able to generate profit from its investments and is doing relatively well in the market. The company has been able to maintain high standards of quality and has established itself as a reliable and reliable partner for businesses seeking logistical solutions.
Summary
VOYA FINANCIAL has reported strong earnings results for the second quarter of 2023. Total revenue increased by 22.9% year-over-year to USD 1726.0 million, while net income soared 132.4% year-over-year to USD 158.0 million. This has been an impressive performance by VOYA FINANCIAL, and is likely to be attractive to potential investors looking for a reliable stock to invest in. VOYA FINANCIAL is well positioned for continued growth in the near future, and offers sound long-term investment opportunities.
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