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Sep 30, 2020
Brighthouse Financial Q3 2020 Earnings Report
Brighthouse Financial's Q3 2020 financial performance was marked by a net loss, but adjusted earnings, less notable items, showed a positive figure, with increased annuity and life sales and resumed common stock repurchases.
Key Takeaways
Brighthouse Financial reported a net loss of $3,012 million for Q3 2020, primarily due to the annual actuarial review and net derivative mark-to-market losses. However, adjusted earnings, less notable items, were $388 million, with annuity and life sales increasing by 29% and 63%, respectively, compared to Q3 2019. The company resumed common stock repurchases and had an estimated combined risk-based capital ratio between 525 and 545 percent.
Net loss available to shareholders was $3,012 million, or $32.49 per diluted share.
Adjusted earnings, less notable items, were $388 million, or $4.19 per diluted share.
Annuity sales increased 29 percent and life sales increased 63 percent compared with the third quarter of 2019.
The company resumed repurchases of its common stock on August 24, 2020, and repurchased $432 million of common stock year-to-date through November 4.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the transcript.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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