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Jackson Financial (JXN) Q3 FY2023 earnings: revenue $2.6 billion, down 12.7% on the year

Jackson Financial Inc. (JXN) reported revenue of $2.6 billion for Q3 FY2023, the quarter ended 30 September 2023, down 12.7% on the same quarter a year earlier. Net income was $2.8 billion, up 47.6% on the year, and diluted earnings per share $33.35. The figures are the company's own, from the 10-Q it filed with the SEC on 8 November 2023.

Revenue$2.6 billiondown 12.7%
Net income$2.8 billionup 47.6%
Diluted EPS$33.35
QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Revenue2,585n/an/an/a
Operating income1,959n/an/an/a
Operating margin75.8%n/an/a
Interest expense28.0n/an/an/a
Pre-tax income3,502n/an/an/a
Income tax712n/an/an/a
Effective tax rate20.3%n/an/a
Net income2,773n/an/an/a
Net margin107.3%n/an/a
Diluted EPS$33.35n/an/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Operating cash flow1,129n/an/an/a
Cash from investing2,119n/an/an/a
Cash from financing-2,586n/an/an/a
Share-based compensation35.0n/an/an/a
Buybacks72.0n/an/an/a
Dividends paid51.0n/an/an/a
Dividend per share$0.62n/an/an/a
Diluted shares, weighted83mn/an/an/a
Shares outstanding at period end80mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Shareholders' equity9,478n/an/an/a
Non-controlling interest775n/an/an/a
Short-term borrowings1,172n/an/an/a
Debt2,635n/an/an/a
Other liabilities300,474n/an/an/a
Total liabilities and equity314,534n/an/an/a
Securities held for sale or to maturity39,078n/an/an/a
Loans10,136n/an/an/a
Cash and equivalents2,760n/an/an/a
Other assets262,560n/an/an/a
Total assets314,534n/an/an/a

Questions

What was Jackson Financial's revenue in Q3 FY2023?

Jackson Financial (JXN) reported revenue of $2.6 billion for Q3 FY2023, the quarter ended 30 September 2023, down 12.7% on the same quarter a year earlier.

How much did Jackson Financial earn in Q3 FY2023?

Net income for Q3 FY2023 was $2.8 billion, up 47.6% on the year, and diluted earnings per share $33.35.

When did Jackson Financial report Q3 FY2023 results?

Jackson Financial filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 8 November 2023.

Quarterly results, the last 12 quarters

Q3 FY2023 †Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue2,585892-3221,2472,1212253,750-4711,4161,9882,902168
Operating income1,959205-1,0075691,379-4953,073-1,1527021,2632,167-519
Operating margin76%23%n/a46%65%-220%82%n/a50%64%75%-309%
Interest expense28.035.025.026.025.025.025.025.025.025.025.027.0
Pre-tax income3,502-1,955903318-579380-17.018972.0-358-400665
Tax rate20%n/a11%11%n/a6%n/a2%-26%n/an/a1%
Net income2,773-1,559795275-469345-24.017976.0-204-424655
Net margin107%-175%n/a22%-22%153%-1%n/a5%-10%-15%390%
Diluted EPS$33.35-$19.64$9.94$3.43-$6.37$4.74-$0.48$2.34$0.92-$3.02-$6.24$9.16
Operating cash flow1,1291,6341,4261,4781,3641,5251,5941,1731,3701,6211,0451,849
Buybacks72.070.012010911499.0202158157152227227
Dividends paid51.049.054.053.053.051.058.057.054.054.064.062.0
Shares outstanding80m79m77m76m74m73m72m70m68m67m70m68m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 8 November 2023, accession 0001822993-23-000047: the filing on EDGAR. All of Jackson Financial Inc.'s filings: EDGAR company page.

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