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F&G Annuities & Life (FG) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · F&G Annuities & Life (FG) Q3 2026 earnings results →
Q3 2026 Revenue down 33% year over year to $1.1B · 65¢ of every $1 of revenue kept as net profit · operating margin 82.8%
F&G Annuities & Life made $1.1B in Q3 2026 (-33% Y/Y). Operating margin 82.8%, net earnings $740M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.1B in Q3 2026, down 33% year over year and down 20% from the previous quarter.
Operating profit was $0.94B, a 82.8% margin (up 75.0 points year over year). Total costs fell 88% while revenue fell 33%. Net earnings were $0.74B, up 527% year over year. The effective tax rate was 20.8%.
Operating cash flow was $1.0B (up 5% year over year), 133% of net earnings. Non-cash charges added back $0.19B of depreciation and amortization and $0.01B of share-based compensation.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $1.1B | -33% | 82.8% | $740M | $982M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $1.4B | +4% | -6.6% | −$75.0M | $1.5B |
| Q1 2026 | 10-Q | May 7, 2026 | $1.2B | +31% | 27.2% | $248M | $743M |
| Q4 2025 | 10-K | Feb 26, 2026 | $1.8B | +13% | 9.1% | $128M | $1.2B |
| Q3 2025 | 10-Q | Nov 10, 2025 | $1.7B | +17% | 7.7% | $118M | $937M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $1.4B | +16% | 4.2% | $40.0M | $1.6B |
| Q1 2025 | 10-Q | May 8, 2025 | $908M | -42% | -2.9% | −$21.0M | $956M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About F&G Annuities & Life
Founded in 1959, F&G is a leading provider of insurance solutions serving retail annuity and life customers as well as institutional clients. Our mission is to help people turn their aspirations into reality. As of December 31, 2025, F&G has approximately 778,000 policyholders who count on the safety and protection of our fixed annuity and life insurance products. We also serve approximately 145,000 plan participants who will receive their pension payments from F&G through our pension risk transfer solutions.
In its own words, from its 10-K, filed Feb 26, 2026.
F&G Annuities & Life against its Life Insurance peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -33% against the peers' median +8%. Operating margin: 82.8% against the peers' median 11.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FG F&G Annuities & Life | Q3 2026 | $1.1B | -33% | 82.8% |
| MET Metlife | Q3 2026 | $20.5B | +18% | 8.9% |
| PRU Prudential Financial | Q3 2026 | $14.4B | -19% | 11.4% |
| Metropolitan Life Insurance | Q2 2026 | $9.6B | +2% | 6.0% |
| RGA Reinsurance Group of America | Q3 2026 | $7.5B | +22% | 8.3% |
| CRBG Corebridge Financial | Q3 2026 | $6.2B | +14% | 37.7% |
| LNC Lincoln National | Q3 2026 | $5.5B | +20% | 31.7% |
| Lincoln National Life Insurance | Q2 2026 | $4.3B | +8% | 25.2% |
| ATH-PA Athene Holding | Q3 2026 | $3.1B | -62% | -56.7% |
Source: F&G Annuities & Life 10-Q on SEC EDGAR · CIK 1934850 · Life Insurance
Guidance and outlook
13F: who owns FG and who is buying
More on FG
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results