Jackson Financial reports Q2 adjusted EPS $3.34, consensus $3.50

Reports Q2 revenue $410.0M. Adjusted book value attributed to common shareholders was $115.63 per diluted share as of June 30, compared to $115.36 per diluted share as of year-end 2022. The decrease over the first half of 2023 was primarily the result of non-operating hedging losses partially offset by adjusted operating earnings of $554M, the company said. It added, “Jackson’s second quarter 2023 results highlight our continued progress toward our strategic and operational goals. We successfully launched our enhanced RILA offering in June, positioning ourselves well in this attractive market. In line with our commitments, we returned $100 million to common shareholders through dividends and share buybacks over the second quarter and remain committed to achieving our 2023 capital return target of $450-$550 million. We retained significant financial flexibility with an estimated operating company RBC ratio within our target range and above our first quarter 2023 level. We also maintained healthy levels of excess liquidity at the holding company, which supports our continued confidence to achieve our 2023 key financial targets and create long-term value for shareholders.”