Equitable Holdings Q3 2020 Earnings Report
Key Takeaways
Equitable Holdings reported a GAAP net loss of $779 million, or $1.77 per common share, but achieved non-GAAP operating earnings of $568 million, or $1.24 per common share. The company saw a 6% increase in assets under management, reaching $746 billion, and achieved its $75 million productivity target ahead of schedule. They also announced $500 million in incremental share repurchases for 2021.
Reported a GAAP Net loss of $779 million, or $1.77 per common share.
Achieved non-GAAP operating earnings of $568 million, or $1.24 per common share.
Assets Under Management grew by 6% to $746 billion.
Achieved run rate $75 million productivity target ahead of plan.
Equitable Holdings
Equitable Holdings
Equitable Holdings Revenue by Segment
Forward Guidance
Equitable Holdings expects to continue delivering on its 50-60% target payout ratio, and it recently announced Board approval for an incremental $500 million of share repurchases in 2021, subject to the close of its legacy variable annuity reinsurance transaction.
Revenue & Expenses
Visualization of income flow from segment revenue to net income