Earnings Preview: Corebridge Financial (CRBG) Q3 Earnings Expected to Decline

Corebridge Financial Overview - Wall Street anticipates a year-over-year decline in earnings for Corebridge Financial (CRBG) despite higher revenues, with earnings expected to be $1.09 per share, reflecting a -21% change, while revenues are projected at $4.62 billion, up 2% from the previous year [3][12] - The earnings report is scheduled for November 3, and actual results that exceed expectations could lead to a stock price increase, while missing estimates may result in a decline [2][12] Estimate Revisions and Earnings ESP - The consensus EPS estimate has been revised down by 2.62% over the last 30 days, indicating a bearish sentiment among analysts regarding the company's earnings prospects [4][12] - Corebridge's Earnings ESP stands at -1.63%, suggesting that the Most Accurate Estimate is lower than the Zacks Consensus Estimate, complicating predictions of an earnings beat [12] Earnings History and Market Sentiment - Corebridge has a history of beating consensus EPS estimates, having surpassed expectations in the last four quarters, including a +18.26% surprise in the most recent quarter [13][14] - Despite this positive history, the current combination of a negative Earnings ESP and a Zacks Rank of 3 makes it challenging to predict a beat for the upcoming report [12][17] Industry Context - In comparison, SiriusPoint (SPNT), another player in the Zacks Insurance - Multi line industry, is expected to report earnings of $0.51 per share, indicating no change year-over-year, with revenues projected at $727.2 million, up 29.4% [18][19] - SiriusPoint's consensus EPS estimate has been revised down by 4.1% over the last 30 days, and it currently holds an Earnings ESP of 0%, making predictions of an earnings beat similarly uncertain [19][20]