Filing Flows › F&G Annuities & Life (FG) › Q2 2025
F&G Annuities & Life (FG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
F&G Annuities & Life (FG) reported revenue of $1.4B for the second quarter 2025 (Q2 2025), +16% from a year earlier and +50% from the quarter before. Operating margin was 4.2%, net earnings $40.0M (2.9% of revenue).
F&G Annuities & Life, Q2 2025: revenue $1.4B (+16% year over year), operating margin 4.2%, net earnings $40.0M, operating cash flow $1.6B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.4B | +50% | +16% |
| Operating profit | $57.0M | — | -78% |
| Net earnings | $40.0M | — | -80% |
| Operating cash flow | $1.6B | +69% | +54% |
What changed
Revenue was $1.4B in Q2 2025, up 16% year over year and up 50% from the previous quarter.
Operating profit was $0.06B, a 4.2% margin (down 17.5 points year over year). Operating profit fell $0.20B even though revenue rose $0.19B versus a year earlier, so costs grew faster than sales. Total costs grew 42% against revenue growth of 16%. Net earnings were $0.04B, down 80% year over year. The effective tax rate was 26.3%.
Operating cash flow was $1.6B (up 54% year over year), 3857% of net income including minority interests. Non-cash charges added back $0.16B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $1.4B.
Questions
What was F&G Annuities & Life's revenue in the second quarter 2025?
F&G Annuities & Life (FG) reported revenue of $1.4B for the second quarter 2025 (Q2 2025), +16% from a year earlier and +50% from the quarter before.
Was F&G Annuities & Life profitable in the second quarter 2025?
Operating profit was $57.0M (4.2% of revenue) and net earnings $40.0M.