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Mar 31, 2024

Brighthouse Financial Q1 2024 Earnings Report

Brighthouse Financial reported a net loss but annuity and life sales increased.

Key Takeaways

Brighthouse Financial reported a net loss available to shareholders of $519 million, or $8.22 per diluted share, but adjusted earnings, less notable items, were $268 million, or $4.25 per diluted share. Total annuity and life sales increased compared to the same period in 2023. The company repurchased approximately $89 million of its common stock year-to-date through May 3, 2024.

Estimated combined risk-based capital ratio between 415% and 435%; holding company liquid assets of $1.3 billion.

The company repurchased approximately $89 million of its common stock year-to-date through May 3, 2024.

First quarter total annuity sales increased 3% compared with the same period in 2023.

First quarter total life sales increased 26% compared with the same period in 2023.

Total Revenue
$1.51B
Previous year: $1.96B
-22.6%
EPS
$4.25
Previous year: $2.86
+48.6%
Book Value per Share
$39.9
Previous year: $60.2
-33.7%
Book Value w/o AOCI per Share
$126
Previous year: $139
-8.9%
Holding Company Liquid Assets
$1.3B
Previous year: $1.1B
+18.2%
Gross Profit
$74M
Previous year: $1.28B
-94.2%
Cash and Equivalents
$3.82B
Previous year: $3.69B
+3.7%
Total Assets
$219B
Previous year: $230B
-4.7%

Brighthouse Financial

Brighthouse Financial

Brighthouse Financial Revenue by Segment

Forward Guidance

No specific forward guidance provided in the document.

Revenue & Expenses

Visualization of income flow from segment revenue to net income