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Mar 31, 2020
Brighthouse Financial Q1 2020 Earnings Report
Brighthouse Financial's first quarter results were announced, showing a significant net income and growth in annuity sales.
Key Takeaways
Brighthouse Financial reported a strong first quarter with a net income of $4,950 million, driven by net derivative mark-to-market gains. Adjusted earnings, less notable items, were $273 million, or $2.60 per diluted share. Annuity sales grew by 15% year-over-year, and the company repurchased approximately $316 million of its common stock year-to-date.
Net income available to shareholders was $4,950 million, or $47.11 per diluted share.
Adjusted earnings, less notable items, were $273 million, or $2.60 per diluted share.
Annuity sales increased by 15% compared to the first quarter of 2019.
The company's estimated combined risk-based capital ratio is between 515 and 535 percent.
Brighthouse Financial
Brighthouse Financial
Brighthouse Financial Revenue by Segment
Revenue by Segment
Premiums Revenue
CapyFin.comUniversal Life & Investment-Type Product Policy Fees Revenue
CapyFin.comNet Investment Income Revenue
CapyFin.comOther Revenues Revenue
CapyFin.com Forward Guidance
Brighthouse Financial remains confident in its strategy and believes it will generate long-term shareholder value, despite the uncertainty caused by the COVID-19 pandemic.
Positive Outlook
- The company's top priority is the well-being and safety of employees, partners, and customers.
- Business continuity plans were promptly implemented, transitioning to a fully remote-work environment.
- The company is able to continue to support customers and financial professionals as usual.
- The company entered the current climate from a position of strength.
- The company's balance sheet and liquidity remain strong, and the investment portfolio is well-diversified.
Challenges Ahead
- The immediate future may be more difficult from a sales perspective.
- It is not possible to estimate the severity or duration of the COVID-19 pandemic.
- Repurchases temporarily suspended while the company continues to evaluate the impacts of the COVID-19 pandemic.
- The company's statutory combined total adjusted capital decreased due to equity market and interest rate declines.
- Unfavorable non-variable annuity results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income