Core Insights - Equitable reported mixed Q2 2025 earnings, with adjusted non-GAAP EPS of $1.41 exceeding estimates but revenue falling short significantly [1][2] - Year-over-year comparisons show a sharp decline in both reported revenue and EPS, with revenue down nearly 33% and non-GAAP EPS down 23% [1][2] - A major life reinsurance deal with RGA completed on July 31, 2025, significantly reduced mortality risk and enhanced capital flexibility [1][5] Financial Performance - Q2 2025 non-GAAP EPS was $1.10, below the $1.28 estimate and down 23.1% from Q2 2024's $1.43 [2] - Revenue for Q2 2025 was $2.36 billion, a decline of 32.8% from the previous year [2] - Non-GAAP operating earnings were $352 million, down 28.9% from $495 million in Q2 2024 [2] - Total assets under management/administration increased to $1.07 trillion, up 8.4% year-over-year [2] Business Segments Overview - Equitable operates across three main business lines: retirement, asset management, and affiliated distribution, structured into six segments [3] - The Retirement segment saw net inflows of $1.7 billion, with first-year premiums up 7% [6] - Wealth Management achieved advisory net inflows of $2.0 billion and a 16% increase in assets under administration to $110 billion [6][11] - The Asset Management segment ended with $829.1 billion in AUM, but faced significant net outflows totaling $6.7 billion [7] Strategic Developments - The completion of the RGA reinsurance deal reduced mortality risk exposure by 75% and unlocked over $2 billion in value [5] - Equitable plans to utilize freed capital for share buybacks, debt reduction, and to strengthen core businesses [5] - The company returned $318 million to shareholders, exceeding its payout target range [9] Future Outlook - Management reaffirmed multi-year targets, including $2 billion in annual cash generation and 12-15% compound annual earnings growth through fiscal 2027 [12] - Expected growth and earnings acceleration in the second half of fiscal 2025, contingent on normalized capital markets [12] - Investors should monitor trends in net flows within the Asset Management segment and the impact of mortality volatility [13]

For the quarter ended June 2025, Equitable Holdings, Inc. (EQH) reported revenue of $3.8 billion, up 5% over the same period last year. EPS came in at $1.41, compared to $1.43 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $3.92 billion, representing a surprise of -2.92%. The company delivered an EPS surprise of +10.16%, with the consensus EPS estimate being $1.28.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

Financial Performance - Net income attributable to Holdings decreased by 181.5% to $63 million for the three months ended June 30, 2025, compared to $428 million for the same period in 2024[6]. - Non-GAAP Operating Earnings fell by 28.9% to $352 million for the three months ended June 30, 2025, down from $495 million in the same period last year[6]. - The company reported a diluted earnings per common share of $(1.21) for the three months ended June 30, 2025, a decline of 198.4% from $1.23 in the same period last year[6]. - Net income attributable to Holdings for the three months ended June 30, 2025, was a loss of $349 million, a decrease of 181.5% compared to a profit of $428 million for the same period in 2024[10]. - Non-GAAP operating earnings for the six months ended June 30, 2025, were $773 million, down from $972 million for the same period in 2024[10]. - The company reported a total of $1.570 billion in gross premiums and deposits for Q2 2025, compared to $955 million in Q2 2024, showing a growth of 65%[30]. - Total revenues for Q2 2025 were $1,094 million, reflecting a 4.1% increase compared to $1,051 million in Q2 2024[31]. - Operating earnings for Q2 2025 reached $131 million, a 29.7% increase from $101 million in Q2 2024[32]. Equity and Capital - Total equity attributable to Holdings' common shareholders decreased by 319.4% to $(79) million as of June 30, 2025, compared to $36 million as of June 30, 2024[6]. - The company's debt to capital ratio (ex. AOCI) increased to 33.5% as of June 30, 2025, compared to 27.2% as of June 30, 2024[6]. - Book value per common share (ex. AOCI) decreased by 10.0% to $24.37 as of June 30, 2025, from $27.09 as of June 30, 2024[6]. - Total equity attributable to Holdings decreased from $10,273 million in June 2024 to $8,581 million in June 2025, a decline of 16.5%[15]. - Total equity attributable to Holdings' common shareholders as of June 30, 2025, was $(79) million, a decrease from $894 million as of March 31, 2025[73]. - The company reported net actuarial gains and losses related to pension and other postretirement benefit obligations of $60 million for the twelve months ended December 31, 2024, decreasing to $51 million for the six months ended June 30, 2025[72]. Assets and Liabilities - Total assets as of June 30, 2025, were $303,088 million, an increase from $287,639 million as of June 30, 2024[14]. - Total liabilities as of June 30, 2025, increased to $300,125 million from $283,212 million as of June 30, 2024[14]. - Cash and cash equivalents increased significantly to $14,957 million as of June 30, 2025, from $9,684 million as of June 30, 2024[14]. - General Account ending net assets increased from $112,083 million as of June 30, 2024, to $128,933 million as of June 30, 2025[54]. Revenue and Premiums - Total revenues for the six months ended June 30, 2025, increased by 20.9% to $6,938 million compared to $5,737 million for the same period in 2024[10]. - Total gross premiums for the six months ended June 30, 2025, were $1,576 million, a slight increase of 0.9% from $1,562 million in the same period of 2024[41]. - Total gross premiums for Individual Retirement increased by 6.4% to $9,496 million for the six months ended June 30, 2025, compared to $8,928 million for the same period in 2024[23]. - First-year premiums and deposits totaled $134 million for the three months ended June 30, 2025, an increase of 12.1% compared to $121 million in the same period of 2024[41]. Investment Income - Net investment income for the six months ended June 30, 2025, rose by 9.5% to $2,603 million compared to $2,377 million for the same period in 2024[10]. - Net investment income for the six months ended June 30, 2025, was $2,622 million, compared to $2,366 million in the same period of 2024, showing an increase of about 10.8%[18]. - Net investment income for Individual Retirement increased by 21.2% to $719 million for the three months ended June 30, 2025, compared to $593 million for the same period in 2024[26]. Policyholders' Benefits - Policyholders' benefits for the six months ended June 30, 2025, increased by 15.0% to $1,546 million from $1,344 million in the same period of 2024[10]. - Policyholders' benefits increased from $667 million in June 2024 to $787 million in June 2025, a rise of 18.0%[17]. - Policyholders' benefits for Individual Retirement increased by 8.4% to $168 million for the six months ended June 30, 2025, compared to $155 million for the same period in 2024[26]. Market Performance - The total Assets Under Management (AUM) as of June 30, 2025, reached $959.7 billion, an increase from $918.8 billion as of December 31, 2024, representing a growth of about 4.5%[19]. - The company's third-party AUM was $691.3 billion as of June 30, 2025, compared to $660.7 billion as of December 31, 2024, marking an increase of approximately 4.6%[19]. - The S&P 500 index value increased from 5,882 in December 2024 to 6,205 in June 2025, reflecting a rise of approximately 5.5%[19]. Segment Performance - Operating earnings for the Individual Retirement segment were $215 million for the three months ended June 30, 2025, compared to $246 million for the same period in 2024, a decrease of 12.6%[17]. - Operating earnings for Group Retirement were $125 million for the three months ended June 30, 2024, with a slight decrease to $124 million by June 30, 2025, reflecting a change of -0.8%[29]. - Total revenues for the Wealth Management segment reached $471 million for the three months ended June 30, 2025, reflecting a 6.6% increase from $442 million in the same period of 2024[43]. Miscellaneous - The company incurred $14 million or $0.05 of expense related to a disputed billing practice for the three and six months ended June 30, 2025[2]. - The company anticipates a fee policy adjustment effective October 1, 2024, which may impact fixed income assets[35].

Group 1 - The focus is on income investing through common shares, preferred shares, or bonds, with occasional insights on the broader economy or specific company situations [1] - The author has a background in history/political science and an MBA with a specialization in Finance and Economics, indicating a strong analytical foundation [1] - The author has been investing since 2000 and currently serves as the CEO of an independent living retirement community in Illinois, suggesting practical experience in both investment and management [1] Group 2 - There are no disclosed stock, option, or derivative positions in any mentioned companies, indicating an unbiased perspective in the analysis [2] - The article expresses personal opinions and is not influenced by compensation from companies mentioned, ensuring independence in the analysis [2] - Seeking Alpha clarifies that past performance does not guarantee future results, emphasizing the importance of independent research for investors [3]

Equitable (EQH) 2025 Conference Summary Company Overview - **Company**: Equitable (EQH) - **Date of Conference**: June 11, 2025 - **Key Speaker**: Robin Roger, CFO of Equitable Key Points and Arguments Strategic Goals and Financial Metrics - Equitable outlined a growth strategy during the Investor Day in May 2023, focusing on: - Defending and growing core businesses in retirement and asset management - Seeding future businesses in plan guarantees and emerging markets - Scaling wealth management and private credit capabilities [4][5] - Financial targets include: - Growing cash flows from $1.3 billion to $2 billion by 2027 - Increasing payout ratio to 60%-70% from 40%-60% - Achieving earnings per share (EPS) growth of 12%-15% [6][7] Progress on Financial Metrics - Cash flow projections for 2025 are between $1.6 billion and $1.7 billion, with confidence in reaching $2 billion by 2027 [6][68] - Achieved a payout ratio of 68% over nine quarters and 12% EPS growth over two years, despite some adverse mortality impacts [7][8] RGA Transaction and Capital Allocation - The RGA transaction is expected to free up $2 billion in capital, allowing for strategic investments and enhancing growth in asset and wealth management [9][10] - Increased ownership stake in AllianceBernstein from 62% to 69%, using $800 million of the proceeds [11] Business Mix and Growth Opportunities - By 2027, approximately 50%-60% of cash flow is expected to come from asset and wealth management, up from 17% at IPO [12][49] - The integrated business model allows for leveraging strengths in annuities to expand into asset and wealth management [16][25] Retirement Market Insights - The retirement market is significant, with 4 million Americans turning 65 this year and $600 billion in assets moving out of 401(k) plans [18][34] - Buffered annuities are gaining traction, especially during market volatility, with a 40% year-over-year increase in the RILE market [29][30] Future Growth in 401(k) Business - The 401(k) market is valued at $8 trillion, with annuities holding less than 1% market share, presenting a substantial growth opportunity [36][39] - Partnerships with firms like BlackRock and JPMorgan are expected to drive inflows and market penetration [37] Wealth Management Performance - Equitable has seen strong net inflows and adviser productivity, with assets under administration growing from $40 billion at IPO to over $100 billion [45] - Plans to enhance adviser recruitment through experienced hires and potential small acquisitions [46][47] Private Market Strategy - The private markets are expanding, with a focus on private credit and insurance, leveraging sticky liabilities for better returns [56][59] - Equitable maintains a conservative approach, avoiding below-investment-grade assets while focusing on higher-grade private credit [63] Capital Deployment and Share Buybacks - Following the RGA transaction, Equitable plans to deploy $2 billion in capital, including $500 million for share buybacks and debt repayment [76][77] - The company is positioned to be offensive in capital deployment, depending on market conditions [78] Additional Important Insights - The flywheel effect of integrating asset management and retirement businesses is expected to enhance overall returns and growth [17][21] - The company is optimistic about future earnings growth driven by demographic trends and market opportunities in retirement solutions [34][35] This summary encapsulates the key insights and strategic directions discussed during the Equitable conference, highlighting the company's growth ambitions and market positioning.

Company Overview - Equitable Holdings, Inc. (EQH) is headquartered in New York and operates in the Finance sector [3] - The stock has experienced a price change of 11.72% since the beginning of the year [3] Dividend Information - Currently, EQH pays a dividend of $0.24 per share, resulting in a dividend yield of 2.05% [3] - The company's annualized dividend of $1.08 has increased by 14.9% from the previous year [4] - Over the last 5 years, EQH has increased its dividend 5 times year-over-year, averaging an annual increase of 8.95% [4] - The current payout ratio for EQH is 16%, indicating that it paid out 16% of its trailing 12-month EPS as dividends [4] Earnings Growth Expectations - For the fiscal year, EQH anticipates solid earnings growth, with the Zacks Consensus Estimate for 2025 at $6.62 per share, reflecting an expected increase of 11.64% from the previous year [5] Industry Context - The Insurance - Multi line industry's average dividend yield is 1.82%, while the S&P 500's yield is 1.56%, positioning EQH favorably within its sector [3] - Dividends are significant for investors as they enhance stock investing profits, reduce overall portfolio risk, and offer tax advantages [6] - It is noted that larger, established companies are more likely to offer dividends compared to tech start-ups or high-growth businesses [7] Investment Consideration - EQH is considered a compelling investment opportunity due to its strong dividend profile and current Zacks Rank of 3 (Hold) [7]

Core Insights - Albert Anthony is a Croatian-American media personality and analyst for financial platforms, focusing on dividend stocks and general market commentary [1] - He has gained over 1,000 followers since 2023 and has covered more than 200 companies across various sectors [1] - Anthony has a background in the IT sector and has worked with a top 10 financial firm in the US [1] - He plans to launch a new book in 2025 discussing his stock rating methodology [1] Company Overview - Albert Anthony & Co. is a sole proprietorship registered in Austin, Texas, and owns the Albert Anthony brand [1] - The company does not provide personalized financial advice and focuses on general market commentary based on publicly available data [1] - There is no material position held in any stock rated by Anthony at the time of rating unless disclosed [1]

Equitable Holdings, Inc. (EQH) recently announced that its board of directors approved an increase in quarterly dividends, consistent with its previously disclosed plan. The company will now pay out 27 cents per share, marking a 12.5% increase from the previous amount.The new dividend will be paid out on June 9, 2025, to stockholders of record as of June 2. Based on the increased rate, the annual dividend amounts to $1.08 per share. The dividend yield, calculated based on the new payout and the closing pric ...

Group 1 - Equitable Holdings (NYSE: EQH) shares have increased by 33% over the past year, indicating strong performance [1] - The company has taken decisive actions to de-risk its business and reallocate capital into more recurring revenue streams, which is expected to support multiple expansion [1]

Core Viewpoint - Equitable Holdings, Inc. (EQH) experienced a 3.5% increase in share price following the release of its first-quarter 2025 results, despite facing challenges from increased policyholder benefits and changes in market risk benefits [1] Financial Performance - EQH reported adjusted earnings per share (EPS) of $1.35, which was 9.4% below the Zacks Consensus Estimate, and a 5.6% decline year over year [2] - Operating revenues increased by 3.8% year over year to $3.8 billion, but this also fell short of the consensus estimate by 5.1% [2] - Policy charges and fee income grew by 3.5% year over year to $636 million, while premiums improved by 6.7% to $304 million [3] - Net investment income rose by 3.1% year over year to $1.2 billion, but total benefits and other deductions surged by 118.9% to $4.4 billion [3] Segment Performance - Individual Retirement segment revenues increased by 18.7% year over year to $997 million, although it was below the consensus estimate of $1 billion [4] - Group Retirement revenues climbed by 8.6% year over year to $316 million, surpassing the consensus mark of $305.9 million [5] - Asset Management revenues declined by 0.5% year over year to $1.1 billion, missing the consensus estimate of $1.2 billion [5] - Protection Solutions revenues grew slightly to $826 million but were below the consensus estimate of $869.5 million, resulting in a pre-tax loss of $19 million [6] - Wealth Management revenues advanced by 9.4% year over year to $463 million, yet fell short of the consensus mark of $481.4 million [6] - Legacy segment revenues decreased by 7% year over year to $120 million, missing the consensus estimate of $158.4 million [7] Financial Position - As of March 31, 2025, total investments and cash equivalents amounted to $127.1 billion, up from $123.4 billion at the end of 2024 [8] - Total assets decreased to $287.4 billion from $295.7 billion at the end of 2024 [8] - Long-term debt increased by 13% to $4.3 billion, while total equity rose by 22.8% to $4.2 billion [8] Capital Return - EQH returned $335 million to shareholders in the first quarter, consisting of $74 million in cash dividends and $261 million in share repurchases [9] - The company has set a payout ratio target of 60-70% of non-GAAP operating earnings for the period from 2023 to 2027 [9] Future Outlook - The company aims to generate cash in the range of $1.6-$1.7 billion for 2025 and $2 billion annually over the 2023-2027 period [10] - Non-GAAP operating EPS is expected to grow at a compound annual growth rate (CAGR) of 12-15% during the same timeframe [10]