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Dec 31, 2024
Equitable Holdings Q4 2024 Earnings Report
Equitable Holdings reported its full year and fourth quarter 2024 financial results, highlighting robust growth momentum and strong financial performance.
Key Takeaways
Equitable Holdings reported a strong fourth quarter and full year 2024, with significant increases in net income and non-GAAP operating earnings. The company achieved record net inflows in Retirement and Wealth Management, alongside active net inflows in Asset Management, contributing to a 10% year-over-year increase in total AUM/A to $1.0 trillion.
Robust growth momentum with record full year net inflows of $7.1 billion in Retirement, $4.0 billion in Wealth Management and active net inflows of $4.3 billion in Asset Management.
Full year Net income of $1.3 billion, or $3.78 per share; fourth quarter Net income of $899 million, or $2.76 per share.
Non-GAAP operating earnings of $522 million, or $1.57 per share, for the fourth quarter 2024, with full year non-GAAP operating earnings of $2.0 billion, or $5.93 per share.
Cash generation of $1.5 billion in 2024, with an expectation to increase to $1.6-1.7 billion in 2025, and $1.3 billion returned to shareholders in 2024.
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 strong momentum to continue in 2025, with projected Non-GAAP operating EPS growth consistent with its 12-15% target and cash generation increasing to $1.6-1.7 billion.
Positive Outlook
- Non-GAAP operating EPS growth expected to be consistent with 12-15% target.
- Cash generation projected to increase to $1.6-1.7 billion.
- Supported by organic growth across Retirement, Asset Management, and Wealth Management businesses.
- Continued execution against strategic initiatives.
- Company remains on track to deliver on 2027 financial targets.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- Market conditions and equity returns could impact financial performance.
- Interest rate fluctuations may affect results.
- Operational failures or strategic transaction risks could pose challenges.
- Industry competition and information system risks are ongoing factors.