Company Overview - Brighthouse Financial (BHF) shares increased by 6.2% to close at $50.27, following a significant volume of trading, contrasting with an 18.5% loss over the past four weeks [1][2] - The company is reportedly close to being acquired by Aquarian Holdings, which has likely contributed to the recent price appreciation [2] - Brighthouse is revamping its life insurance business to enhance annuity sales and is focusing on transitioning to less capital-intensive products [2][3] Financial Performance - The upcoming quarterly earnings are expected to be $4.70 per share, reflecting a year-over-year decline of 15.6%, with revenues projected at $2.2 billion, down 0.7% from the previous year [4] - The consensus EPS estimate has been revised 1.1% higher over the last 30 days, indicating a positive trend that may lead to further price appreciation [5] Market Position - Brighthouse Financial aims to become a premier player in the life and annuity products market, leveraging its strong market presence and product suite [3] - The company is committed to returning capital to shareholders and plans to maintain an opportunistic share repurchase program [3] Industry Context - Brighthouse Financial is part of the Zacks Insurance - Life Insurance industry, which includes other companies like Primerica (PRI) [6] - Primerica's consensus EPS estimate has increased by 0.4% to $5.18, representing a 10% year-over-year change, and it also holds a Zacks Rank of 3 (Hold) [7]

Brighthouse Financial shares took off Wednesday following a report that private equity firm Aquarian Holdings could be close to striking a deal to buy the insurer. https://t.co/iHCsMu0Z5P ...

Key Takeaways Brighthouse Financial is expanding its life and annuity offerings to boost growth and industry presence. BHF is targeting sustainability by shifting toward less capital-intensive products and wider distribution. Higher expenses and leverage are weighing on margins, despite a discounted valuation to peers.Shares of  Brighthouse Financial, Inc. (BHF) are trading at a discount compared to the Zacks  Life Insurance industry. Its price-to-book value of 0.51X is lower than the industry average of ...

Core Insights - LVMH's liquidity contract with Oddo BHF SCA shows significant trading activity in the first half of 2025, with a total of 3,203 purchases and 3,240 sales of shares, indicating active management of liquidity [1][2][8] Summary by Category Transactions Overview - Total purchases amounted to 234,460 shares for a total of €135,447,405.90, while total sales reached 203,460 shares for €117,943,246.10 [2][8] - The liquidity account showed a cash balance of €9,887,574.90 and 52,000 shares remaining at the end of the reporting period [2][8] Monthly Breakdown - In January 2025, notable transactions included 3,000 shares purchased on January 2 for €1,875,000 and 5,000 shares sold on January 15 for €3,214,000 [1][3] - February 2025 saw 7,000 shares purchased on January 29 for €4,994,755.20 and 3,000 shares sold on February 12 for €2,062,000 [3][4] - March 2025 included significant purchases such as 8,500 shares on March 4 for €5,714,191.90 and sales of 4,000 shares on March 14 for €2,458,700 [4][5] Key Dates and Amounts - On April 3, 2025, 6,000 shares were purchased for €3,320,800, while on April 10, 2025, 3,000 shares were sold for €1,621,800 [5][6] - May 2025 transactions included 5,000 shares sold on May 12 for €3,102,486.40 and 3,000 shares purchased on May 22 for €1,451,150 [6][7] - In June 2025, the last recorded transaction was a purchase of 1,000 shares for €444,600 on June 30 [7][8]

Core Insights - Brighthouse Financial, Inc. (BHF) has seen a share price increase of 37.7% over the past year, outperforming its industry, the Finance sector, and the Zacks S&P 500 composite, which grew by 17.3%, 19.6%, and 10.8% respectively [1] - The company has a market capitalization of $3.31 billion and an average trading volume of 0.8 million shares over the last three months [1] Valuation and Performance - BHF shares are trading at a forward price-to-book value of 0.63X, significantly lower than the industry average of 1.97X, the Finance sector's 4.16X, and the Zacks S&P 500 Composite's 8.09X, indicating attractive valuation [3] - The trailing 12-month return on equity for BHF is 25.6%, surpassing the industry average of 15.37%, reflecting effective utilization of shareholder equity [15] Market Position and Growth Drivers - BHF is positioned to benefit from a growing individual insurance market and an expanding distribution network, with a focus on enhancing its product portfolio through new offerings like Shield Level Pay Plus and SecureKey [8][16] - The Zacks Consensus Estimate for BHF's 2025 revenues is projected at $8.84 billion, representing a year-over-year increase of 1.4%, with further growth expected in 2026 [9] Sales and Earnings Trends - Earnings for BHF have grown by 16.5% over the past five years, outperforming the industry average of 7.8%, with the company beating earnings estimates in two of the last four quarters [10] - Recent sales growth has been driven by strong performance in annuity products, particularly from the Shield Level Annuity and SecureKey offerings, alongside improved underwriting margins and net investment income [17][18] Analyst Sentiment and Price Targets - The average price target from analysts for BHF is $58.50 per share, suggesting a potential downside of 0.66% from the last closing price [11] - There has been a bearish sentiment among analysts, with three out of six lowering their estimates for 2025 and one for 2026 in the past 30 days [13] Financial Strategy and Capital Management - BHF maintains a well-diversified investment portfolio, which supports stable earnings and capital strength, and is committed to returning capital to shareholders through an opportunistic share repurchase program [20] - The company’s focus on enhancing its balance sheet strength and financial flexibility positions it well for future growth [21]

Core Viewpoint - Brighthouse Financial reported mixed financial results for the quarter ended March 2025, with revenue growth but earnings per share (EPS) falling short of expectations [1][3]. Financial Performance - Revenue for the quarter was $2.16 billion, reflecting a year-over-year increase of 5.2%, but was below the Zacks Consensus Estimate of $2.3 billion, resulting in a surprise of -6.20% [1]. - EPS was reported at $4.17, down from $4.25 in the same quarter last year, and below the consensus estimate of $4.72, leading to an EPS surprise of -11.65% [1]. Key Metrics - Net flows for variable and shield level annuities were -$1.96 billion, worse than the average estimate of -$1.56 billion [4]. - The account value for variable and shield level annuities at the end of the period was $120.96 billion, slightly above the estimated $120.82 billion [4]. - Net flows for fixed annuities were -$431 million, significantly worse than the average estimate of -$21.07 million [4]. - The account value for fixed annuities was $19.36 billion, below the average estimate of $19.71 billion [4]. Revenue Breakdown - Net investment income was $1.29 billion, below the average estimate of $1.39 billion, but represented a year-over-year increase of 3% [4]. - Other revenues were reported at $136 million, below the average estimate of $146.63 million, reflecting a year-over-year decline of 6.2% [4]. - Premiums collected were $186 million, below the estimated $202.46 million, marking a year-over-year decrease of 7.9% [4]. - Universal life and investment-type product policy fees were $543 million, below the average estimate of $586.28 million, but showed a year-over-year increase of 24.5% [4]. - Total adjusted revenues for life insurance were $291 million, below the average estimate of $306.66 million, representing a year-over-year increase of 34.1% [4]. - Total adjusted revenues for annuities were $1.34 billion, slightly below the average estimate of $1.39 billion, with a year-over-year increase of 3.1% [4]. - Total adjusted revenues from run-off were $367 million, below the average estimate of $418.81 million, with a year-over-year increase of 3.1% [4]. - Total adjusted revenues from corporate and other segments were $154 million, below the average estimate of $181.42 million, reflecting an 11% year-over-year decline [4]. Stock Performance - Brighthouse Financial shares have returned +22.8% over the past month, outperforming the Zacks S&P 500 composite, which saw a +3.8% change [3]. - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number: 001-37905 Brighthouse Financial, Inc. (Exact name of registrant as specified in its charter) Delaware 81-3846992 (State or other juris ...

Core Viewpoint - Brighthouse Financial, Inc. (BHF) reported a first-quarter 2025 adjusted net income of $4.17 per share, missing the Zacks Consensus Estimate by 11.6%, with a year-over-year decline of 1.8% in the bottom line, attributed to lower premiums and rising expenses, although offset by improved adjusted net investment income [1][2] Financial Performance - Total operating revenues reached $2.2 billion, reflecting a 6.1% increase year over year, driven by higher universal life and investment-type product policy fees and net investment income [1] - Premiums amounted to $186 million, down 7.9% year over year, compared to an estimate of $218.3 million [2] - Adjusted net investment income was $1.3 billion, up 2% year over year, primarily due to asset growth, with an investment income yield of 4.25% [2] - Total expenses were $2.7 billion, nearly four times higher year over year, exceeding the estimate of $995.5 million [2] Segment Performance - Annuities segment reported adjusted operating income of $314 million, a slight increase of 0.3% year over year, while annuity sales decreased by 21% to $2.3 billion, mainly due to lower fixed annuity sales [3] - Life insurance segment achieved adjusted operating earnings of $9 million, recovering from a loss of $36 million in the previous year, with life insurance sales increasing by 24% quarter over quarter to $36 million [4] - Run-off segment recorded an adjusted operating loss of $64 million, wider than the previous year's loss of $34 million, attributed to lower net investment income [4] - Corporate & Other segment incurred an adjusted operating loss of $24 million, an improvement from a loss of $34 million in the prior year [5] Financial Position - Cash and cash equivalents stood at $4.7 billion, a 22% increase year over year [6] - Shareholders' equity reached $5.2 billion, up 25% year over year [6] - Book value per share, excluding accumulated other comprehensive income, was $141.87 as of March 31, 2025, reflecting a 12.3% increase year over year [6] - Statutory combined total adjusted capital was $5.5 billion, down 8.3% year over year, with an estimated combined risk-based capital ratio of 420-440% [6] Share Buyback Activity - Brighthouse Financial repurchased shares worth $59 million in the first quarter of 2025, with an additional $26 million on a trade date basis through May 6, 2025 [7]

Brighthouse Financial (BHF) Q1 2025 Earnings Call May 09, 2025 08:00 AM ET Company Participants Dana Amante - Head, Investor RelationsEric Steigerwalt - President & CEOEdward Spehar - Executive VP & CFODavid Rosenbaum - Executive VP and Head of Product & UnderwritingJohn Rosenthal - Executive VP & Chief Investment OfficerElyse Greenspan - Managing DirectorWilma Burdis - DirectorRyan Krueger - Managing Director Conference Call Participants Wes Carmichael - Senior AnalystJohn Barnidge - Managing Director & Se ...

Financial Data and Key Metrics Changes - Brighthouse Financial reported adjusted earnings of approximately $235 million for Q1 2025, which includes an unfavorable notable item of $10 million related to an actuarial model refinement [16] - The estimated combined risk-based capital (RBC) ratio was between 420% and 440%, within the target range of 400% to 450% in normal market conditions [14][19] - Statutory combined total adjusted capital (TAC) was approximately $5.5 billion at March 31, compared to approximately $5.4 billion at December 31 [14] Business Line Data and Key Metrics Changes - Total annuity sales were approximately $2.3 billion, including $2 billion in Shield sales, which increased 3% sequentially and 5% year-over-year [9] - Life insurance sales totaled $36 million, representing a 24% increase compared to Q1 2024 and a 9% increase sequentially [10] - The Annuities segment reported adjusted earnings of $324 million, relatively flat sequentially, while the Life segment reported adjusted earnings of $9 million, reflecting lower underwriting margins and higher expenses [18] Market Data and Key Metrics Changes - The company experienced strong sales growth in both annuities and life insurance, with a notable increase in the Shield annuity product suite [6][9] - The company is positioned as one of the top annuity providers in the United States, leveraging strong distribution relationships [9] Company Strategy and Development Direction - The company continues to focus on capital efficiency and has made progress on strategic initiatives aimed at simplifying its hedging strategy for variable annuities and Shield products [7][15] - The company is committed to protecting its statutory balance sheet under adverse market scenarios while navigating a competitive environment [8][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the current macro environment and emphasized the importance of maintaining a robust liquidity position [12] - The company expects flows to be at or above 2024 levels, driven by a substantial amount of fixed-rate annuities coming out of surrender in the second half of 2025 [28][98] Other Important Information - Corporate expenses for the quarter were $239 million, higher than expected, but management anticipates normalization for the remainder of 2025 [11] - The company repurchased $59 million of common stock in the quarter, with an additional $26 million repurchased through May 6 [12][66] Q&A Session Summary Question: Clarification on the benefit of the 25 basis point increase in mean reversion point - Management indicated that the benefit to normalized statutory earnings was around $200 million [21] Question: Outlook on sales and fixed annuities - Management acknowledged softer sales in fixed annuities but noted efforts to build momentum and maintain competitive rates [24] Question: Trends in flows and surrender activity - Management expects flows to be at 2024 levels or higher, with a substantial amount of fixed-rate annuities coming out of surrender in 2025 [28][98] Question: RBC ratio and seasonal impacts - Management confirmed that the RBC ratio was stable, with seasonal impacts from capital charges expected to be modest in the first quarter [112] Question: Strategic initiatives and capital generation - Management emphasized ongoing efforts to unlock capital while remaining unconstrained from growth opportunities [117] Question: Industry transactions and market dynamics - Management is closely monitoring recent industry transactions and their potential implications for Brighthouse [104][106] Question: Share repurchase program details - Management provided details on the share repurchase program, indicating active buybacks in response to market conditions [66]