Equitable Holdings Q3 EPS misses estimates

Overview

• Equitable Holdings reports Q3 net loss of $1.3 bln due to life reinsurance impact

• Adjusted EPS for Q3 misses analyst expectations

• Assets under management rose 7% yr/yr to $1.1 trillion

Outlook

• Equitable Holdings maintains confidence in achieving 2027 financial targets

• Company plans $1.5 bln capital deployment for growth and shareholder value

• Equitable Holdings sees favorable market conditions supporting growth

Result Drivers

• REINSURANCE IMPACT - Net loss driven by one-time impact from life reinsurance transaction

• NET INFLOWS - Strong net inflows in Retirement and Wealth Management segments contributed to AUM growth

• CAPITAL DEPLOYMENT - $1.5 bln capital deployment for shareholder value and growth, including buybacks and debt repayment

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the diversified investment services peer group is "buy"

• Wall Street's median 12-month price target for Equitable Holdings Inc is $64.00, about 23.8% above its November 3 closing price of $48.79

• The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release: ID:nBw5pvf4wa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)