Jun 2026 (Q2 FY26) — Aug 5, 2026
Voya Financial Q2 FY26 — Strong Commercial Momentum and Expense Discipline
Read the full callVoya Financial (VOYA) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Voya Financial earnings: last reported Wed, 5 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,896 | −4.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 94.0 | −43.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
10 of 10 judged targets kept · 11 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Investment Management organic growth rate | Over 2% (long-term organic growth target) | Mar 2026 | So that leans against that long-term growth rate. | At Risk |
| Excess capital generation FY26 | Further increase versus 2025 (~$775 million) | Dec 2025 | We remain on track for 2026 cash generation to exceed 2025 levels, supported by strong cash conversion, second half earnings outlook and the expense actions we've discussed. | On Track |
| Edward Jones distribution partnership - full product suite availability | Starting early fiscal year 2026 | Sep 2025 | We've onboarded the Ever Jones relationship fully engaged in this new distribution relationship | Achieved |
11 of Voya Financial, Inc.'s 21 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 18 more targets are in the full ledger.
Claimed
- Adjusted operating earnings were $1.51 per share, reflecting strong underlying business trends.
- Generated approximately $150 million of excess capital in the quarter, with year-to-date excess capital at $350 million.
- Returned approximately $200 million to shareholders through repurchases and dividends in Q2, totaling over $380 million in H1 FY26.
- Retirement segment generated over $8 billion of defined contribution net inflows, supported by high client retention and large plan implementations.
- Investment Management achieved positive net inflows of $1.2 billion for the quarter and $6.3 billion over the last 12 months.
Qualified
- Adjusted operating earnings were impacted by approximately $0.90 per share from lower alternative investment performance and severance costs.
- Voluntary loss ratios were elevated in the quarter due to nonrecurring items, contributing a 2.5-point effect.
- Investment Management anticipates a wind-down of a legacy relationship in the second half, though revenue impacts are expected to be immaterial in 2026.
Price
$93.42 −0.63% · −$0.59
Performance +27.6% 1Y
1Y: $73.22 on 17 Oct 2025 → $93.42. High $104.86 (3 Sept 2026), low $65.51 (12 Mar 2026).
- Previous close
- $94.01
- 52-week range
- $65.51 – $104.86
- One year
- +26.52%
Overview
- Symbol
- VOYA
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
10 of 10 judged targets kept · 11 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Investment Management organic growth rate | Over 2% (long-term organic growth target) | Mar 2026 | So that leans against that long-term growth rate. | At Risk |
| Excess capital generation FY26 | Further increase versus 2025 (~$775 million) | Dec 2025 | We remain on track for 2026 cash generation to exceed 2025 levels, supported by strong cash conversion, second half earnings outlook and the expense actions we've discussed. | On Track |
| Edward Jones distribution partnership - full product suite availability | Starting early fiscal year 2026 | Sep 2025 | We've onboarded the Ever Jones relationship fully engaged in this new distribution relationship | Achieved |
Claimed
- Adjusted operating earnings were $1.51 per share, reflecting strong underlying business trends.
- Generated approximately $150 million of excess capital in the quarter, with year-to-date excess capital at $350 million.
- Returned approximately $200 million to shareholders through repurchases and dividends in Q2, totaling over $380 million in H1 FY26.
- Retirement segment generated over $8 billion of defined contribution net inflows, supported by high client retention and large plan implementations.
- Investment Management achieved positive net inflows of $1.2 billion for the quarter and $6.3 billion over the last 12 months.
Qualified
- Adjusted operating earnings were impacted by approximately $0.90 per share from lower alternative investment performance and severance costs.
- Voluntary loss ratios were elevated in the quarter due to nonrecurring items, contributing a 2.5-point effect.
- Investment Management anticipates a wind-down of a legacy relationship in the second half, though revenue impacts are expected to be immaterial in 2026.
The full ledger
Open Voya Financial, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 21 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 6, 2026
Voya Financial Q1 FY26 — Strong Start with Earnings Growth and Stop-Loss Margin Recovery
Read the full callEvery analysed call
Voya Financial earnings calls (VOYA)
Financials
What the filings say
Net profit, year on year: −43% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,956 | 2,010 | 1,969 | 1,981 | 2,128 | 2,111 | 2,031 | 1,896 |
| Profit before tax | 116 | 120 | 173 | 188 | 307 | 169 | 230 | 34 |
| Tax rate | 15.5% | −0.8% | 12.7% | 14.4% | 11.4% | 11.8% | 15.2% | 47.1% |
| Net profit | 114 | 97 | 156 | 166 | 192 | 140 | 182 | 94 |
| EPS ($ per share) | 1 | — | 1.45 | 1.69 | 1.82 | — | 1.78 | 0.99 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 3 | 2 | 2 | 1 | 1 | 1 | 1 | 1 |
| Total liabilities | 146,437 | 158,829 | 169,340 | 161,441 | 141,609 | 151,032 | 157,882 | 171,820 |
| Total assets | 155,382 | 168,990 | 180,518 | 171,262 | 146,606 | 157,085 | 163,889 | 178,859 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,868 | 1,310 | 1,362 | 22 | 1,352 | 1,638 | 1,345 | 1,288 |
| Cash from investing | -282 | -1,255 | -2,461 | -327 | -1,946 | 2,532 | 481 | -1,369 |
| Cash from financing | -1,764 | -121 | 1,702 | -265 | 28 | -4,059 | -1,430 | -85 |
| Net cash flow | -178 | -66 | 603 | -570 | -566 | 111 | 396 | -166 |
VOYA revenue by segment
| Segment | Q2 FY2024 | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Investment Management | 12% | 12% | — | — | — | 45% | 46% | 48% | — |
| Retirement | 36% | 37% | — | 33% | 33% | 33% | 31% | 31% | -7.9% |
| Benefitfocus | — | — | — | 9% | 9% | 8% | 10% | 10% | +2.0% |
| Employee Benefits | 44% | 46% | — | 1% | 2% | 2% | 2% | 2% | 0.0% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
VOYA operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Active accounts Retirement | <10MIt has meaningfully strengthened, both the scale and earnings power of our retirement business, which now serves nearly 10 million retirement accounts.Source: earnings call transcript | 10M+Our platform now serves more than 10 million participant accounts, providing meaningful scale to drive future fee-based revenue growth.Source: earnings call transcript | — |
| Net new assets Investment Management | ~$65MBut if we think about the investment management, right, net flow was about -- net inflow is about $65 million for the quarter.Source: earnings call transcript | $1.2BNet inflows were $1.2 billion in the quarter and now $6.3 billion over the last 12 months.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
50 filings between Oct 24, 2025 and Aug 21, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$2.96M
6 sales by 3 insiders
67% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 30
- Option exercise — converted options into shares
- 14
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Katz Michael Robert | — | $1.54M | Dec 12, 2025 |
| Ogle Trevor | — | $1.10M | Jun 8, 2026 |
| Oh Tony D | — | $310.9K | Feb 20, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 21, 2026 | Keshavan Santhosh See Remarks | Option exercise 10b5-1 plan | 35,587 | $1.33M |
| Aug 16, 2026 | Thompson Brannigan C Insider | Option exercise | 1,645 | $0 |
| Aug 16, 2026 | Thompson Brannigan C Insider | Tax withheld | 730 | $73.1K |
| Jun 8, 2026 | Ogle Trevor See Remarks | Sale 10b5-1 plan | 3,994 | $359.5K |
| May 21, 2026 | Butler Yvette S. Director | Option exercise | 2,547 | $0 |
| May 21, 2026 | Chwick Jane Director | Option exercise | 2,547 | $0 |
| May 21, 2026 | TRIPODI JOSEPH V Director | Option exercise | 2,547 | $0 |
| Mar 2, 2026 | Ogle Trevor See Remarks | Sale 10b5-1 plan | 1,689 | $109.8K |
| Feb 20, 2026 | Oh Tony D See Remarks | Sale | 3,515 | $259.4K |
| Feb 20, 2026 | Ogle Trevor See Remarks | Sale 10b5-1 plan | 8,536 | $630.1K |
| Feb 18, 2026 | Biggar Lynne Director | Option exercise | 197 | $14.7K |
| Feb 17, 2026 | Oh Tony D See Remarks | Option exercise | 683 | $0 |
| Feb 17, 2026 | Oh Tony D See Remarks | Option exercise | 4,430 | $0 |
| Feb 17, 2026 | Katz Michael Robert See Remarks | Option exercise | 3,349 | $0 |
| Feb 17, 2026 | Ogle Trevor See Remarks | Option exercise | 9,192 | $0 |
| Feb 17, 2026 | Toms Matthew Insider | Option exercise | 2,576 | $0 |
| Feb 17, 2026 | Tressy Rachel See remarks. | Tax withheld | 1,069 | $79.5K |
| Feb 17, 2026 | Kaduson Jay Insider | Tax withheld | 7,923 | $589.4K |
| Feb 17, 2026 | Tressy Rachel See remarks. | Option exercise | 1,651 | $0 |
| Feb 17, 2026 | Tressy Rachel See remarks. | Option exercise | 452 | $0 |
| Feb 17, 2026 | Thompson Brannigan C Insider | Tax withheld | 2,661 | $198.0K |
| Feb 17, 2026 | Thompson Brannigan C Insider | Option exercise | 4,925 | $0 |
| Feb 17, 2026 | Thompson Brannigan C Insider | Option exercise | 793 | $0 |
| Feb 17, 2026 | Keshavan Santhosh See Remarks | Tax withheld | 6,988 | $519.8K |
| Feb 17, 2026 | Kaduson Jay Insider | Option exercise | 17,675 | $0 |
| Feb 17, 2026 | Ogle Trevor See Remarks | Option exercise | 4,250 | $0 |
| Feb 17, 2026 | Keshavan Santhosh See Remarks | Option exercise | 4,722 | $0 |
| Feb 17, 2026 | Ogle Trevor See Remarks | Tax withheld | 4,906 | $365.0K |
| Feb 17, 2026 | Toms Matthew Insider | Tax withheld | 6,457 | $480.3K |
| Feb 17, 2026 | Katz Michael Robert See Remarks | Option exercise | 9,549 | $0 |
| Feb 17, 2026 | Lavallee Heather H. See Remarks | Tax withheld | 26,990 | $2.01M |
| Feb 17, 2026 | Lavallee Heather H. See Remarks | Option exercise | 41,399 | $0 |
| Feb 17, 2026 | Lavallee Heather H. See Remarks | Option exercise | 15,117 | $0 |
| Feb 17, 2026 | Katz Michael Robert See Remarks | Tax withheld | 5,911 | $439.7K |
| Feb 17, 2026 | Toms Matthew Insider | Option exercise | 11,346 | $0 |
| Feb 17, 2026 | Keshavan Santhosh See Remarks | Option exercise | 10,079 | $0 |
| Dec 12, 2025 | Katz Michael Robert See Remarks | Sale 10b5-1 plan | 20,600 | $1.54M |
| Dec 12, 2025 | Katz Michael Robert See Remarks | Option exercise 10b5-1 plan | 20,600 | $774.6K |
| Nov 28, 2025 | Tressy Rachel See remarks. | Tax withheld | 144 | $10.1K |
| Nov 28, 2025 | Tressy Rachel See remarks. | Option exercise | 455 | $0 |
| Nov 14, 2025 | Biggar Lynne Director | Option exercise | 198 | $14.0K |
| Nov 6, 2025 | Oh Tony D See Remarks | Sale | 717 | $51.6K |
| Oct 25, 2025 | Katz Michael Robert See Remarks | Option exercise | 2,938 | $216.5K |
| Oct 25, 2025 | Ogle Trevor See Remarks | Tax withheld | 1,390 | $102.4K |
| Oct 25, 2025 | Ogle Trevor See Remarks | Option exercise | 2,722 | $200.6K |
| Oct 25, 2025 | Keshavan Santhosh See Remarks | Tax withheld | 1,379 | $101.6K |
| Oct 25, 2025 | Keshavan Santhosh See Remarks | Option exercise | 2,938 | $216.5K |
| Oct 25, 2025 | Katz Michael Robert See Remarks | Tax withheld | 1,336 | $98.4K |
| Oct 24, 2025 | Oh Tony D See Remarks | Tax withheld | 301 | $22.1K |
| Oct 24, 2025 | Oh Tony D See Remarks | Option exercise | 1,018 | $74.9K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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