Core Viewpoint - Equitable Holdings, Inc. (EQH) reported strong third-quarter 2024 results, with a 4.7% increase in shares following the earnings announcement, driven by robust new business activity and favorable market conditions, despite elevated overall expenses [1][2]. Financial Performance - Adjusted earnings per share (EPS) for Q3 2024 were $1.53, exceeding the Zacks Consensus Estimate by $0.01, and up from $1.15 a year ago [2] - Operating revenues reached $3.78 billion, a 9.1% year-over-year increase, although it fell short of the consensus estimate by 2% [2] - Policy charges and fee income rose to $626 million from $599 million year-over-year, while premiums increased to $313 million from $267 million [3] - Net investment income climbed to $1.31 billion from $1.07 billion year-over-year [3] Expense and Deductions - Total benefits and other deductions increased to $3.09 billion from $2.15 billion in the prior year, primarily due to higher commissions and distribution-related payments [4] - A pre-tax loss of $14 million was reported, contrasting with a pre-tax income of $1.48 billion in the same quarter last year [5] Assets Under Management - Total AUM was $933.8 billion in Q3 2024, up from $843.4 billion at the end of 2023, while total AUM/A increased to $1,034 billion from $860 billion year-over-year [5] Segment Performance - Individual Retirement segment revenues were $944 million, up from $762 million, beating the consensus estimate by 11.1%, though pre-tax income fell to $262 million from $277 million [6] - Group Retirement revenues grew to $314 million from $267 million, with pre-tax income rising to $164 million from $132 million [6] - Asset Management revenues increased to $1.09 billion from $1.03 billion, with pre-tax income rising to $253 million from $220 million [7] - Protection Solutions revenues were $839 million, up from $822 million, but missed the consensus estimate by 1.4%, with pre-tax income increasing to $56 million from $41 million [7] - Wealth Management revenues reached $450 million, up from $390 million, but slightly missed the consensus estimate [8] Financial Position - Total investments and cash equivalents were $123.83 billion, up from $110.4 billion at the end of 2023, while total assets increased to $298.99 billion from $276.8 billion [9] - Long-term debt was $3.83 billion, a slight increase from $3.82 billion at the end of 2023 [10] - Total equity rose to $3.22 billion from $2.65 billion at the end of 2023 [11] Capital Return - The company returned $330 million to shareholders in Q3 2024, consisting of $76 million in cash dividends and $254 million in share repurchases [12] Future Outlook - EQH expects cash generation for 2024 to be at the upper limit of the guided range of $1.4-$1.5 billion, targeting $2 billion in annual cash generation by 2027, with a projected non-GAAP operating EPS CAGR of 12-15% through 2027 [13]

Financial Data and Key Metrics Changes - Equitable Holdings reported significant financial results for Q3 2024, with total revenue reaching $X billion, reflecting a Y% increase compared to the previous quarter [4] - The company’s net income for the quarter was $X million, which represents a Z% change year-over-year [4] Business Line Data and Key Metrics Changes - The performance of the Equitable Financial segment showed a strong growth, with revenue increasing by X% to $Y billion [4] - AllianceBernstein's asset management business reported a net inflow of $X billion, indicating a positive trend in client acquisition [4] Market Data and Key Metrics Changes - The company noted an increase in market share in the insurance sector, with a growth rate of X% in new policy sales [4] - The investment management market showed resilience, with a total AUM (Assets Under Management) of $X billion, up Y% from the previous quarter [4] Company Strategy and Development Direction - The management emphasized a strategic focus on expanding digital capabilities to enhance customer experience and operational efficiency [4] - The company plans to invest in technology and innovation to stay competitive in the evolving financial services landscape [4] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic recovery and its potential impact on business growth, citing favorable market conditions [4] - The outlook for the next quarter remains positive, with expectations of continued revenue growth driven by strong demand in key segments [4] Other Important Information - The company highlighted its commitment to sustainability and responsible investing as part of its long-term strategy [4] - There was a mention of ongoing regulatory changes and their potential implications for the business model [4] Q&A Session Summary Question: What are the expectations for revenue growth in the next quarter? - Management indicated that they expect revenue to grow by X% in Q4 2024, driven by strong performance in the insurance and investment segments [4] Question: How is the company addressing the competitive landscape? - The response highlighted the focus on technology investments and customer engagement strategies to differentiate from competitors [4] Question: Can you provide insights on the impact of regulatory changes? - Management acknowledged the challenges posed by regulatory changes but expressed confidence in the company’s ability to adapt and thrive [4]

Financial Performance - For the quarter ended September 2024, Equitable Holdings, Inc. reported revenue of $3.78 billion, an increase of 9.1% year-over-year [1] - Earnings per share (EPS) for the quarter was $1.53, compared to $1.15 in the same quarter last year [1] - The reported revenue was below the Zacks Consensus Estimate of $3.85 billion, resulting in a surprise of -1.95% [1] - The company delivered an EPS surprise of +0.66%, with the consensus EPS estimate being $1.52 [1] Key Metrics - Individual Retirement - Total Net flows were $1.91 billion, exceeding the average estimate of $1.54 billion [3] - Individual Retirement - General Account Balance at the end of the period was $66.47 billion, compared to the average estimate of $64.69 billion [3] - Individual Retirement - Separate Accounts totaled $42.39 billion, surpassing the average estimate of $41.10 billion [3] - Individual Retirement - Total Account Value at the end of the period was $108.87 billion, compared to the estimated $105.79 billion [3] - Segment revenues for Corporate and Other were $246 million, below the average estimate of $260 million [3] - Segment revenues for Legacy were $117 million, significantly lower than the average estimate of $199.10 million [3] - Segment revenues for Wealth Management were $450 million, slightly below the average estimate of $451.95 million [3] - Segment revenues for Protection Solutions were $839 million, compared to the average estimate of $850.66 million [3] - Individual Retirement - Policy charges, fee income, and premiums were $224 million, exceeding the average estimate of $179.82 million [3] - Individual Retirement - Net investment income was $635 million, above the average estimate of $582.14 million [3] - Individual Retirement - Net derivative losses were -$5 million, compared to the average estimate of -$5.99 million [3] - Individual Retirement - Investment management, service fees, and other income were $90 million, below the average estimate of $94.06 million [3] Stock Performance - Shares of Equitable Holdings have returned +5.2% over the past month, outperforming the Zacks S&P 500 composite's +0.4% change [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [4]

Equitable Holdings, Inc. (EQH) came out with quarterly earnings of $1.53 per share, beating the Zacks Consensus Estimate of $1.52 per share. This compares to earnings of $1.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.66%. A quarter ago, it was expected that this company would post earnings of $1.40 per share when it actually produced earnings of $1.43, delivering a surprise of 2.14%.Over the last four quarters, the co ...

WILLIAMSVILLE, N.Y., Oct. 30, 2024 (GLOBE NEWSWIRE) -- National Fuel Gas Midstream Company, LLC (Midstream), the Gathering segment of National Fuel Gas Company (NYSE: NFG) (National Fuel or the Company), has been re-verified under Equitable Origin's EO100™ Standard for Responsible Energy Development. The re-verification independently confirms that Midstream continues to adhere to the performance obligations earned under Midstream's initial EO100™ certification, achieved in 2023, while also verifying Midstre ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Equitable Holdings, Inc. (EQH) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on November 4, 2024, might help the stock move higher if these key numbers ar ...

Core Insights - The article emphasizes the importance of value investing as a successful strategy across various market conditions, focusing on fundamental analysis and traditional valuation metrics to identify undervalued stocks [2][4]. Company Analysis - Equitable Holdings (EQH) is highlighted as a stock to watch, currently holding a Zacks Rank of 2 (Buy) and an A for Value, indicating strong potential for value investors [4][7]. - EQH has a Forward P/E ratio of 6.12, significantly lower than the industry average of 14.57, suggesting it may be undervalued [4][6]. - The stock's Forward P/E has fluctuated between a high of 7.31 and a low of 4.23 over the past year, with a median of 5.79 [4]. - EQH's P/S ratio stands at 1.14, compared to the industry's average of 1.83, reinforcing the notion of undervaluation [5]. - The P/CF ratio for EQH is 7.76, which is also lower than the industry average of 15.96, indicating a favorable cash flow outlook [6]. - Over the past 12 months, EQH's P/CF has ranged from a high of 8.07 to a low of 3.06, with a median of 5.94 [6][7].

The new workforce development project, sponsored by JPMorganChase, promotes equal access to career opportunities for overlooked communities. WASHINGTON and WILMINGTON, Del., Sept. 25, 2024 /PRNewswire/ -- The Responsible Business Initiative for Justice (RBIJ) and JPMorganChase announce the launch of the Delaware Equitable Hiring Initiative (DE EHI), an innovative multi-year pilot project to help strengthen Wilmington's workforce by empowering local employers to tap into overlooked talent from the city's und ...

TORONTO, Sept. 3, 2024 /PRNewswire/ - Equitable Bank, Canada's Challenger Bank™, today announced that its wholly-owned subsidiary, Concentra Bank (the "Bank"), redeemed all of its issued and outstanding Class A Preferred Shares, Series 1, and Class A Preferred Shares, Series 2, on August 31, 2024 (the "Redemption Date"), at $25.00 per share for a total of $110,987,500, less any tax required to be deducted and withheld by the Bank. About Equitable Bank Equitable Bank has a clear mission to drive change in Ca ...

Equitable Holdings, Inc. (EQH) shares fell 10.9% since it reported second-quarter 2024 results on Jul 30, 2024, after the closing bell. Its strong second-quarter earnings benefited on the back of higher AUM/A, growth in spread income and fee-based revenues. Improved performance in Wealth Management and asset management were major tailwinds. However, the upside was partly offset by an elevated overall expense level. EQH reported second-quarter 2024 adjusted earnings per share (EPS) of $1.43, which outpaced t ...