Equitable Holdings Operating EPS Climbs to $2.13 Ahead of Corebridge Merger
Equitable Holdings' third-quarter non-GAAP operating earnings rose to $2.13 per share from $1.48 a year earlier, the retirement and asset-management company said Monday, as all three of its businesses took in new money and it kept its pending merger with Corebridge Financial on track to close by the end of 2026.
Non-GAAP operating earnings climbed 30.8% to $595 million, according to its 8-K. Excluding $41 million of notable items, operating earnings were $554 million, or $1.98 per share, which the company said was up 19% from a year ago.
On a GAAP basis, net income attributable to Equitable Holdings was $1.1 billion, or $4.05 per share, compared with a net loss of $1.3 billion, or $4.47 per share, in the third quarter of 2025. Total revenues were $3.88 billion, up from $1.45 billion.
Growth goal met through nine months
Operating earnings per share rose 22% over the first nine months of the year, the company said, ahead of its guidance for growth of more than 15% in 2026.
"Organic growth was strong across each of our businesses," Chief Executive Mark Pearson said. "Our merger with Corebridge Financial will bring greater scale, an expanded product offering and broader distribution to meet this demand."
Segment results
Retirement earned $432 million, up from $405 million, helped by higher fee-based revenue, a wider net interest margin and the annual actuarial update. First-year premiums rose 14% to $6.2 billion, and net inflows were $1.1 billion.
Asset management unit AllianceBernstein, in which Equitable owns a 68% stake, posted net inflows of $6.6 billion, including a $12 billion commercial mortgage loan mandate from Equitable. Its operating earnings slipped to $152 million from $154 million as a lower fee rate and higher expenses offset asset growth.
Wealth Management earnings rose to $75 million from $59 million. The unit brought in $2.7 billion of advisory net inflows, and assets under administration reached $140.4 billion. Corporate and other posted a $64 million operating loss, narrower than the $163 million loss a year earlier.
Capital returns and deals
Equitable returned $320 million to shareholders in the quarter, made up of $238 million of share repurchases and $82 million of dividends. That was a 59% payout ratio, and the company said it remains on track for its 60%-70% target for 2026. Holdings ended the quarter with $0.9 billion of cash and liquid assets, above its $500 million minimum.
On Oct. 13 the company completed the sale of its Employee Benefits business to The Hartford. The Corebridge merger is still subject to regulatory approvals.
By the numbers
- $2.13 non-GAAP operating EPS, versus $1.48
- $1.98 operating EPS excluding notable items
- $4.05 GAAP EPS, versus a $4.47 loss
- $320 million returned to shareholders
- $1.2 trillion of assets under management and administration
Sources
- Equitable Holdings Form 8-K with third-quarter 2026 results, filed Nov. 2, 2026 (accession 0001333986-26-000054)
This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.
Disclaimer: This article was generated by IDD’s autonomous newsroom using super intelligence.