Employee Benefits segment earnings rose 15% to $69 million, driven by improved loss ratios and favorable claims experience.
Investment Management net inflows were about $2 billion in Q2, contributing to nearly $10 billion year-to-date.
Investment Management segment posted $51 million in adjusted operating earnings for Q2 and $214 million over the last 12 months, increases of 2% and 15% respectively.
Retirement segment generated $235 million in adjusted operating earnings for the quarter, up 10% year-over-year, with over $860 million in the last 12 months, up 19%.
Total defined contribution net inflows were approximately $12 billion in Q2, with year-to-date net flows exceeding $40 billion.
Voya Financial reported adjusted operating earnings per share of $2.46 in Q2 2025, a 13% increase year-over-year.
Voya generated approximately $200 million of excess capital in Q2 and $400 million year-to-date, strengthening the balance sheet.
Earnings per share (EPS) for the quarter was $1.76, a 21% increase from the prior quarter.
Net interest income increased by $6.7 million or about 10% quarter over quarter, driven by loan growth and lower funding costs.
Net interest margin (NIM) expanded by 15 basis points to 3.83%, marking the seventh consecutive quarter of margin expansion.
Non-interest expenses were flat at $43.1 million with some offsetting movements in payroll taxes, professional fees, IT project costs, licensing, and other expenses.
Non-interest expense was flat at $43.1 million, with some offsetting movements in compensation, professional fees, IT project costs, licensing, and other expenses.
Non-interest income declined by $1 million primarily due to a one-time income recognition in the prior quarter.
Provision expense increased to $6.4 million due to loan growth, macroeconomic factors, and a $2.4 million reserve for a single non-performing loan.
Second quarter loans increased by $271 million or 4.3%, and core deposits rose by $342 million or 5.3%.
Tangible book value per share increased by more than 4% to $68.44, the tenth consecutive quarter of book value accretion.
Total revenue grew 8% quarter over quarter to $76.2 million, and net income rose more than 15% to $18.8 million.
Total revenue grew 8% quarter over quarter to $76.2 million, with net income rising over 15% to $18.8 million.
Adjusted EBITDAre decreased by $7.7 million year-over-year to $163.8 million, impacted by an $8.8 million increase in interest expense and lower hotel returns.
Hotel portfolio generated adjusted hotel EBITDA of $73 million, an 11.3% decline year-over-year but towards the high end of guidance.
Net lease portfolio remains stable with 742 properties, 97% leased, $387 million in annual minimum rents, and a 2.04x rent coverage ratio.
Normalized FFO for Q2 2025 was $57.6 million or $0.35 per share, down from $0.45 per share in the prior year quarter.
RevPAR increased 40 basis points year-over-year, outperforming the industry by 90 basis points, driven by occupancy and ADR gains.
The 84 hotels planned for retention showed a 1.5% RevPAR increase but an 11.7% decrease in adjusted hotel EBITDA due to elevated labor costs and renovation disruptions.
Dafinchi