In This Article:
F&G Annuities & Life (NYSE:FG) Full Year 2024 Results
Key Financial Results
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Revenue: US$5.78b (up 27% from FY 2023).
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Net income: US$622.0m (up from US$58.0m loss in FY 2023).
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Profit margin: 11% (up from net loss in FY 2023). The move to profitability was driven by higher revenue.
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EPS: US$4.98 (up from US$0.47 loss in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
F&G Annuities & Life Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) also surpassed analyst estimates by 39%.
In the last 12 months, the only revenue segment was Life Insurance contributing US$5.78b. Notably, cost of sales worth US$3.79b amounted to 66% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$569.0m (42% of total expenses). Explore how FG's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Insurance industry in the US.
Performance of the American Insurance industry.
The company's share price is broadly unchanged from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on F&G Annuities & Life's balance sheet.
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