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Mar 31, 2021
Equitable Holdings Q1 2021 Earnings Report
Equitable Holdings reported strong first quarter results with a net loss of $1.5 billion and non-GAAP operating earnings of $600 million.
Key Takeaways
Equitable Holdings reported a net loss of $1,488 million, or $3.46 per share, compared to a net income of $5,388 million in the first quarter of 2020. Non-GAAP operating earnings were $600 million, or $1.35 per share, up 19% year-over-year. Assets under management grew 27% year-over-year to $822 billion.
Net loss of $1.5bn; net loss per share of $3.46
Non-GAAP operating earnings of $600m, or $1.35 per share
AUM up 27% year-over-year to $822 billion
Capital returned of $504m to shareholders
Equitable Holdings
Equitable Holdings
Equitable Holdings Revenue by Segment
Revenue by Segment
Individual Retirement Revenue
CapyFin.comGroup Retirement Revenue
CapyFin.comAsset Management Revenue
CapyFin.comProtection Solutions Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.com Forward Guidance
The Company expects to continue delivering on its 50-60% payout ratio target, with an incremental $500 million of share repurchases in 2021, subject to the close of the variable annuity reinsurance transaction with Venerable.
Positive Outlook
- Continued focus on growing capital-resilient businesses
- Variable annuity reinsurance transaction remains on track to close in the second quarter of 2021
- Expenses lower year-over-year, excluding one-time items and revenue-related variable expenses
- Net realized expense savings of $8 million in the quarter
- Continued focus on productivity
Revenue & Expenses
Visualization of income flow from segment revenue to net income