ebridge Financial(US:CRBG) ZACKSยท2024-11-05 01:00Corebridge Financial Performance Summary - Corebridge Financial reported $4.53 billion in revenue for Q3 2024, an 11.1% year-over-year increase, with EPS of $1.38 compared to $1.05 a year ago [1] - The reported revenue fell short of the Zacks Consensus Estimate of $5.72 billion, resulting in a surprise of -20.75%, while the EPS exceeded expectations by +17.95% against a consensus estimate of $1.17 [1] Key Metrics Analysis - Premiums for the quarter were $618 million, significantly below the estimated $2.06 billion [3] - Total advisory fee and other income reached $300 million, surpassing the average estimate of $212.19 million [3] - Policy fees amounted to $728 million, slightly above the average estimate of $714.35 million [3] - Net investment income was reported at $2.83 billion, exceeding the average estimate of $2.75 billion [3] - Revenue from Life Insurance was $1.13 billion, compared to the average estimate of $1.09 billion [3] - Individual Retirement revenue totaled $1.82 billion, above the average estimate of $1.77 billion [3] - Individual Retirement premiums were $36 million, close to the estimated $36.25 million [3] - Individual Retirement policy fees reached $205 million, exceeding the average estimate of $189.55 million [3] - Individual Retirement net investment income was $1.46 billion, slightly above the average estimate of $1.43 billion [3] - Individual Retirement advisory fee and other income was $116 million, compared to the average estimate of $114 million [3] - Group Retirement premiums were $5 million, below the estimated $5.95 million [3] - Group Retirement policy fees were $113 million, above the average estimate of $107.67 million [3] Stock Performance - Corebridge shares have returned +5.5% over the past month, outperforming the Zacks S&P 500 composite's +0.4% change [4] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [4]