Key Highlights

  • VOYA reported third quarter Net Income available to common shareholders of $193 million, or $2.09 per diluted share, up from $176 million, or $1.80.
  • After-tax adjusted operating Earnings were $240 million, or $2.60 per diluted share, versus $239 million, or $2.45, a year earlier.
  • The board approved a 21% increase in the quarterly Dividend to $0.57 per share, starting in the fourth quarter of 2026.
  • Share repurchase authorization was raised by $500 million, on top of about $163 million of remaining capacity at Sep 30, 2026.
  • Retirement client Assets reached $878 billion, up 12% from $785 billion a year earlier.

Adjusted Operating Earnings Edge Up to $2.60 Per Share Despite $25 Million Severance Charge

Voya Financial (NYSE:VOYA) reported third quarter 2026 results on Nov 2, 2026. Net income available to common shareholders was $193 million, or $2.09 per diluted share, compared with $176 million, or $1.80, in the third quarter of 2025. The company attributed the gain mainly to lower losses on businesses it has exited and higher adjusted operating earnings.

After-tax adjusted operating earnings were $240 million, or $2.60 per diluted share, against $239 million, or $2.45. Higher earnings in Retirement and Employee Benefits were largely offset by weaker Investment Capital income in Investment Management and about $25 million of pre-tax severance expense.

Voya provides retirement, employee benefits and investment management services to more than 18 million customer relationships. Total revenues were $2.03 billion, down from $2.13 billion, as net losses of $108 million compared with $21 million a year earlier.

Retirement Assets Hit $878 Billion While Employee Benefits Margin Nearly Doubles

Retirement pre-tax adjusted operating earnings rose to $266 million from $261 million. Participants grew to 10.3 million, and trailing twelve month net revenues increased 6%. The trailing adjusted Operating Margin was 37.8%, compared with 39.8%.

Employee Benefits earned $51 million before tax, up from $47 million, including a $12 million favorable annual assumption update. The trailing twelve month adjusted operating margin reached 11.4% from 6.0%, and the aggregate loss ratio improved to 74% from 78%. Annualized in-force premiums and fees of $3.5 billion were lower year over year, as the company prioritized margin over growth.

Investment Management earned $58 million before tax, down from $62 million on lower investment capital income. It recorded net inflows of $1.4 billion, while assets under management were $363 billion versus $366 billion, reflecting divestitures and a sub-advisor transition. Assets under advisory grew to $62 billion from $54 billion, with net inflows of $1.5 billion.

Dividend Raised to $0.57 and Buyback Capacity Expanded by $500 Million

Voya generated about $225 million of excess capital in the quarter, a conversion of more than 90% of after-tax adjusted operating earnings. It returned roughly $150 million to shareholders through dividends and repurchases and made a final $20 million payment tied to a completed transaction. Excess capital was approximately $250 million at Sep 30, 2026.

The board authorized a 21% increase in the quarterly common dividend to $0.57 per share, beginning in the fourth quarter of 2026. It also added $500 million to the repurchase authorization, which sits alongside about $163 million of remaining capacity.

Capital Return Step-Up and Quarterly Filing Frame the Next Update

Voya paired steady adjusted earnings with a larger payout plan. The company hosted a results call on Nov 3, 2026, and expects to file its Quarterly Report on Form 10-Q on or before Nov 9, 2026. The first dividend at the higher $0.57 rate falls in the fourth quarter of 2026.