Voya Financial

Q2 FY2026 EarningsQ2 FY26 results significantly missed consensus on profitability despite revenue being largely in-line. Adjusted Operating Earnings of $167M fell 37.15% short of the $265.67M consensus, primarily due to a 68% YoY earnings collapse in the Employee Benefits segment and lower alternative investment income in Retirement. GAAP Diluted EPS of $0.97 missed the $1.82 estimate by 46.70%, further weighed down by an abnormally high effective tax rate of 47.1%. Conversely, BPS of $51.72 exceeded expectations, aided by aggressive share repurchases totaling $300M in H1 FY26.