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Voya Financial (NYSE: VOYA) projects Q2 loss in alternative investment returns

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Voya Financial, Inc. is providing an early look at expected alternative investment and investment capital returns for the quarter ended June 30, 2026, ahead of its full earnings release scheduled for August 4, 2026.

For the second quarter of 2026, combined alternative investment and investment capital returns are estimated to be a pre-tax loss between $9 million and $19 million, before partial offsets from reduced variable and incentive compensation accruals. At the midpoint, this implies an annualized return of about -2.5%, while the annualized year-to-date return, using actual first-quarter results and the midpoint of the second-quarter estimate, is about +2.5%.

These estimates cover alternative investment income in the general account and investment capital returns in the Investment Management segment. The figures are preliminary, unaudited, subject to completion of normal closing procedures, and may change once full U.S. GAAP financial statements are prepared.

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Insights

Voya flags a modest Q2 loss in alternative investments, with positive year-to-date returns still intact.

Voya estimates its combined alternative investment and investment capital returns for Q2 2026 will show a pre-tax loss of $9–$19 million. On an annualized basis, the midpoint equates to about -2.5%, indicating weaker performance in this specific return stream for the quarter.

However, using actual Q1 results and the midpoint of Q2 estimates, the company cites an annualized year-to-date return of roughly +2.5%. That suggests earlier strength has offset the weaker second quarter. These results span both general account alternatives and Investment Management segment investment capital.

The disclosure is explicitly preliminary and unaudited, with management noting that normal closing procedures for the three and six months ended June 30, 2026 could lead to material adjustments. Ernst & Young LLP has not reviewed these figures, so the ultimate impact on reported earnings will only be clear when the company issues its full quarterly results on August 4, 2026.

Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Estimated Q2 alternative & investment capital loss $9–$19 million pre-tax Second quarter of 2026, before partial compensation offsets
Annualized Q2 return (midpoint) -2.5% Annualized return on combined alternative and investment capital for Q2 2026
Annualized year-to-date return +2.5% Based on actual Q1 2026 and midpoint of Q2 2026 estimates
Quarter end date June 30, 2026 Period end for the disclosed preliminary results
Planned earnings release date August 4, 2026 Scheduled release of full Q2 2026 earnings and financial supplement
alternative investment income financial
"Alternative Investment Income. For the second quarter of 2026, the Company's combined alternative investment and investment capital returns are estimated..."
Income generated from assets other than public stocks, bonds or cash—examples include rents from property, payouts from private equity or hedge funds, royalties, and gains from commodities or collectibles. It matters to investors because it can boost returns and reduce reliance on traditional markets, but such income is often less regular, harder to sell and can have different tax and risk characteristics — think of it like earning from renting a vacation home versus receiving a steady dividend.
Regulation FD Disclosure regulatory
"Item 7.01 Regulation FD Disclosure Voya Financial, Inc. (the "Company", "we" and "our") is furnishing this..."
Regulation FD disclosure requires public companies to share important, market-moving information with everyone at the same time instead of tipping off analysts or large investors first. Think of it as making sure all players on a field hear the same announcement simultaneously; that fairness helps investors trust that stock prices reflect the same information and reduces the risk of sudden, unfair trading advantages or regulatory penalties for selective leaks.
Investment Management segment financial
"Included in these figures are alternative investment income in our general account and investment capital returns in our Investment Management segment."
U.S. GAAP financial
"These preliminary financial results should not be viewed as a substitute for full financial statements prepared in accordance with U.S. GAAP."
U.S. GAAP is a set of rules and standards that companies in the United States follow to prepare their financial reports. It helps ensure that financial information is consistent and clear, so investors and others can compare and understand a company's financial health easily.
forward-looking statements regulatory
"The information in this ... includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
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FAQ

What did Voya Financial (VOYA) disclose about Q2 2026 alternative investment income?
Voya Financial estimated that combined alternative investment and investment capital returns for Q2 2026 will be a pre-tax loss of $9–$19 million. This preliminary figure reflects weaker performance in that category before partial offsets from lower variable and incentive compensation accruals.

What returns does VOYA expect on an annualized basis for Q2 2026 alternatives?
Using the midpoint of its estimated range, Voya expects an annualized return of about -2.5% for Q2 2026 alternative investment and investment capital returns. This focuses specifically on that return stream, not total company earnings or overall portfolio performance.

What is Voya Financial’s year-to-date 2026 alternative investment return?
Based on actual first-quarter results and the midpoint of Q2 estimates, Voya cites an annualized year-to-date return of about +2.5%. This suggests earlier strength in 2026 alternatives has partially offset the expected weaker second-quarter performance in that segment.

When will VOYA release full Q2 2026 earnings results?
Voya Financial plans to release its quarterly earnings and financial supplement for the quarter ended June 30, 2026 on August 4, 2026. The current disclosure only covers preliminary estimates for alternative investment and investment capital returns ahead of that full report.

Are Voya Financial’s Q2 2026 alternative investment figures audited?
No. Voya states these preliminary results are management’s estimates and have not been audited, reviewed, or compiled by Ernst & Young LLP. The company notes that final closing procedures for the three and six months ended June 30, 2026 could lead to material adjustments.

Which parts of VOYA’s business are included in the alternative investment figures?
The estimates include alternative investment income in Voya’s general account and investment capital returns in its Investment Management segment. Together, these combined results produce the projected pre-tax loss range and the related annualized return figures disclosed for Q2 and year-to-date 2026.
0001535929false00015359292026-07-082026-07-080001535929us-gaap:CommonStockMember2026-07-082026-07-080001535929voya:DepositarySharesMember2026-07-082026-07-08


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
July 8, 2026
VOYA FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
Delaware
001-35897
No.
52-1222820
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification Number)
200 Park Avenue
New York
New York
10166
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code: (212) 309-8200
N/A
(Former name or former address, if changed since last report)
     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbolName of each exchange on which registered
Common Stock, $.01 Par ValueVOYANew York Stock Exchange
Depositary Shares, each representing a 1/40thVOYAPrBNew York Stock Exchange
interest in a share of 5.35% Fixed-Rate Non-Cumulative Preferred Stock, Series B, $0.01 par value
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ 



Item 7.01    Regulation FD Disclosure
Voya Financial, Inc. (the "Company", "we" and "our") is furnishing this Current Report on Form 8-K to disclose alternative investment income expectations prior to the availability of the Company’s quarterly earnings release and quarterly financial supplement for the quarter ended June 30, 2026, scheduled for release on August 4, 2026.
Alternative Investment Income.
For the second quarter of 2026, the Company's combined alternative investment and investment capital returns are estimated to be a pre-tax loss between $9 million to $19 million, before partial offsets from reduced variable and incentive compensation accruals. On an annualized basis, the midpoint of this range would represent a return of approximately -2.5%. The annualized year-to-date return, based on the actual first quarter result and the mid-point of the estimated range of results for the second quarter, would be approximately +2.5%.
Included in these figures are alternative investment income in our general account and investment capital returns in our Investment Management segment.
The preliminary financial results presented above are the responsibility of management and have been prepared in good faith on a consistent basis with prior periods. Because we have not yet completed our financial closing procedures for the three months and six months ended June 30, 2026, however, our actual results could be materially different from these preliminary financial results. In addition, Ernst & Young LLP, our independent registered public accounting firm, has not audited, reviewed, compiled, or performed any procedures with respect to these preliminary financial results and does not express an opinion or any other form of assurance with respect to these preliminary financial results. During the course of the preparation of our consolidated financial statements and related notes as of and for the three months and six months ended June 30, 2026, we may identify items that would require us to make material adjustments to the preliminary financial results presented above. As a result, prospective investors should exercise caution in relying on this information and should not draw any inferences from this information regarding financial or operating data not provided. These preliminary financial results should not be viewed as a substitute for full financial statements prepared in accordance with U.S. GAAP.
The information in this current report on Form 8-K includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company does not assume any obligation to revise or update these statements to reflect new information, subsequent events or changes in strategy. Factors that may cause actual results to differ from those in any forward-looking statement also include those described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Trends and Uncertainties” in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and in other documents filed from time to time with the SEC, as applicable, all of which are available at www.sec.gov.

As provided in General Instruction B.2 of Form 8-K, the information provided pursuant to this Item 7.01 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.


SIGNATURES
    Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Voya Financial, Inc.
(Registrant)

By:        /s/ Julie Watson             
Name:    Julie Watson
Title:    Vice President, Counsel and Corporate Secretary 
Dated: July 8, 2026


Source: View Original Filing on SEC EDGAR

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