Overview
Brighthouse Q2 adjusted EPS of $3.43 misses analyst expectations, per LSEG data
Net income rises to $60 mln from $9 mln in Q2 2024
Company repurchased $102 mln of common stock year-to-date
Outlook
Company anticipates volatility in net income due to market performance impacts
Result Drivers
ANNUITY SALES - Driven by an 8% quarter-over-quarter and 16% sequential increase, primarily in fixed annuities, while Shield Level Annuities remained flat
LIFE SALES - Increased 18% quarter-over-quarter but decreased 8% sequentially, driven by Brighthouse SmartCare
CAPITAL POSITION - Maintained a strong estimated combined RBC ratio of 405%-425% and holding company liquid assets of $0.9 bln
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Adjusted EPS | Miss | $3.43 | $4.46 (8 Analysts) |
Q2 EPS | $1.02 | ||
Q2 Adjusted Net Income | Miss | $198 mln | $263.20 mln (6 Analysts) |
Q2 Net Income | $60 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 6 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the multiline insurance & brokers peer group is "buy."
Wall Street's median 12-month price target for Brighthouse Financial Inc is $56.00, about 15.2% above its August 6 closing price of $47.48
The stock recently traded at 2 times the next 12-month earnings vs. a P/E of 3 three months ago
Press Release: ID:nBw4VpLZ3a
(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.)