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Dec 31, 2023
Equitable Holdings Q4 2023 Earnings Report
Equitable Holdings reported a net loss for Q4 2023, but non-GAAP operating earnings increased year-over-year, driven by strong performance in Individual Retirement and Wealth Management.
Key Takeaways
Equitable Holdings reported a net loss of $698 million for the fourth quarter of 2023, or $2.15 per share. However, non-GAAP operating earnings were $476 million, or $1.33 per share, up from $348 million in the prior year quarter. The company returned $315 million to shareholders in the quarter and authorized a new $1.3 billion share repurchase program.
Net loss of $698 million, or $2.15 per share, for the fourth quarter.
Non-GAAP operating earnings of $476 million, or $1.33 per share, for the fourth quarter.
Returned $315 million to shareholders in the fourth quarter.
Board approved a new $1.3 billion share repurchase authorization.
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.comWealth Management Revenue
CapyFin.comLegacy Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.com Forward Guidance
Equitable Holdings expects non-GAAP operating earnings per share growth to accelerate in 2024 and project increased cash generation of $1.4 billion to $1.5 billion.
Positive Outlook
- Organic growth within Retirement and Wealth Management businesses.
- Continued execution against strategic initiatives.
- Higher interest rates
- Favorable demographic trends
- Strong Institutional pipeline with $12 billion
Revenue & Expenses
Visualization of income flow from segment revenue to net income