Stock Track | Jackson Financial Stock Plunges as Q3 Losses Overshadow Sales Growth

Stock Track11-07

Shares of Jackson Financial Inc. (JXN) plummeted more than 5% on November 7, 2024, as the company's mixed third-quarter results failed to impress investors. While Jackson Financial reported robust retail annuity sales growth of 59% year-over-year, reaching a record $5.3 billion, the company also disclosed a substantial net loss of $480 million, or $6.37 per diluted share.

The significant net loss, primarily driven by a $515 million loss on reinsured business and unfavorable net hedging results, overshadowed the company's strong sales performance. The reported loss per diluted share was significantly higher than analyst expectations of $4.67 in adjusted operating earnings per share for the quarter.

Additionally, Jackson Financial's revenue for the third quarter came in at $2.12 billion, falling short of the expected $1.74 billion. Despite these setbacks, the company maintained its quarterly dividend of $0.70 per common share and reported a robust capital position, with a statutory risk-based capital ratio at its main operating subsidiary remaining strong at 550-570%.

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(JXN) plummeted more than 5% on November 7, 2024, as the company's mixed third-quarter results failed to impress investors. While Jackson Financial reported robust ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"JXN","symbol_name":"Jackson Financial Inc","start_time":0,"source_url":"","article_id":"1123290848","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1123290848","pubTimestamp":1730990107,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Jackson Financial Inc.  plummeted more than 5% on November 7, 2024, as the company's mixed third-quarter results failed to impress investors. While Jackson Financial reported robust retail annuity sales growth of 59% year-over-year, reaching a record $5.3 billion, the company also disclosed a substantial net loss of $480 million, or $6.37 per diluted share.The significant net loss, primarily driven by a $515 million loss on reinsured business and unfavorable net hedging results, oversh","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"JXN":"Jackson Financial Inc"},"translate_title":"股票轨迹杰克逊金融股价暴跌，第三季度亏损盖过销售增长","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"JXN":1},"content_text":"Shares of Jackson Financial Inc. (JXN) plummeted more than 5% on November 7, 2024, as the company's mixed third-quarter results failed to impress investors. 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