Jackson Financial adds $1B to its buyback as third-quarter earnings beat estimates

Revenue of $1.54B was below the $2.44B expected, even as earnings per share came in $0.50 ahead.

Jackson Financial's board has approved a $1B increase to its share buyback authorization. It comes after third-quarter earnings per share of $7.67, excluding notable items and taxes, beat estimates by $0.50.

The $7.67 is up from $5.98 a year earlier, but flat on the second quarter, when the same measure was $7.68. The year-on-year gain is real. It is not a quarter-on-quarter acceleration.

Chief executive Don Cummings credited higher income from asset growth in two annuity lines, along with the company's partnership with TPG. Jackson's Retail Annuities unit earned $638M before tax on an adjusted operating basis, against $494M a year earlier. Sales of RILA, one of those lines, set a record at $3.0B, up from $2.1B a year earlier and $2.3B in the second quarter.

But revenue was $1.54B against $2.44B expected.

Jackson returned $838M to common shareholders in the first nine months of 2026. It targets $900M to $1.1B for the full year.