Equitable Holdings (EQH) Company Report

Equitable Holdings reported full-year 2025 non-GAAP operating earnings of $6.21 per share (adjusted for notable items) and anticipates EPS growth to exceed its 12%-15% target in 2026.
The company generated $1.6 billion in organic cash in 2025, with a forecast of approximately $1.8 billion in 2026, and ended the year with record assets under management and administration of $1.1 trillion.
In 2025, $1.8 billion was returned to shareholders, including $500 million of additional share repurchases funded by a life reinsurance transaction with RGA, which reduced mortality exposure by 75% and freed $2 billion of capital.
The Wealth Management segment achieved its $200 million annual earnings target two years early and is expected to maintain double-digit annual earnings growth.

1 day ago

Transcript

Equitable Holdings Reports Q4 and Full Year 2025 Results, Provides 2026 Outlook

EQH

Earnings

Guidance Update

Share Buyback

Equitable Holdings reported full year 2025 Non-GAAP operating earnings per share of $5.64, or $6.21 per share after adjusting for notable items, and generated $1.6 billion in organic cash.
For Q4 2025, Non-GAAP operating EPS was $1.73, or $1.76 per share adjusted for notable items.
The company projects approximately $1.8 billion in cash generation for 2026, an increase of over 10% year-over-year, and anticipates 2026 EPS growth above its 12-15% target.
EQH returned $1.8 billion of capital to shareholders in 2025 and achieved a record $1.1 trillion in Assets Under Management/Administration (AUM/A), up 10% from year-end 2024.

1 day ago

Presentation

Equitable Holdings Reports Q4 and Full-Year 2025 Results, Provides 2026 Outlook

EQH

Earnings

Guidance Update

Share Buyback

Equitable Holdings reported full-year 2025 non-GAAP operating earnings of $6.21 per share (adjusted for notable items) and Q4 2025 non-GAAP operating earnings of $1.73 per share.
The company achieved $1.6 billion in organic cash generation for 2025, with projections to reach $1.8 billion in 2026 and $2 billion in 2027.
Assets under management and administration grew 10% year-over-year to a record $1.1 trillion by the end of 2025.
$1.8 billion was returned to shareholders in 2025, including $500 million in additional share repurchases which reduced shares outstanding by 9%.
Following a life reinsurance transaction with RGA that freed $2 billion of capital and reduced mortality exposure by 75%, the company expects 2026 EPS growth to exceed its 12%-15% target.

1 day ago

Transcript

Equitable Holdings Reports Q4 and Full-Year 2025 Results, Provides 2026 Outlook

EQH

Earnings

Guidance Update

Share Buyback

Equitable Holdings reported full-year 2025 non-GAAP operating earnings of $6.21 per share (adjusted for notable items), an increase of 1% over 2024, with 2026 EPS growth expected to exceed the 12%-15% target.
The company generated $1.6 billion in organic cash in 2025, consistent with guidance, and projects this to increase to approximately $1.8 billion in 2026 and $2 billion by 2027.
Assets under management and administration reached a record $1.1 trillion at the end of 2025, marking a 10% year-over-year increase, and the life reinsurance transaction with RGA in 2025 freed $2 billion of capital while reducing mortality exposure by 75%.
In 2025, Wealth Management achieved $8.4 billion in full-year net inflows, representing a 13% organic growth rate, while AllianceBernstein experienced overall net outflows of $11.3 billion, which included $4 billion related to the RGA transaction.

1 day ago

Transcript

Equitable Holdings Reports Full Year and Fourth Quarter 2025 Results

EQH

Earnings

Guidance Update

Share Buyback

Equitable Holdings reported a full year 2025 net loss of $1.4 billion, or $(4.83) per share, but a fourth quarter 2025 net income of $215 million, or $0.70 per share.
Non-GAAP operating earnings for full year 2025 were $1.7 billion, or $5.64 per share, and for the fourth quarter 2025 were $513 million, or $1.73 per share.
The company generated $1.6 billion in organic cash in 2025, with an expectation to increase to approximately $1.8 billion in 2026.
Equitable Holdings returned $1.8 billion to shareholders in 2025 and executed strategic initiatives including reinsuring 75% of its individual life block, which freed $2 billion of capital.
Total assets under management and administration (AUM/A) reached a record $1.1 trillion as of December 31, 2025, a 10% year-over-year increase.

2 days ago

Press Release

Equitable Holdings Reports Full Year and Fourth Quarter 2025 Results

EQH

Earnings

Share Buyback

Guidance Update

Equitable Holdings reported a full year 2025 net loss of $1.4 billion, or $(4.83) per share, and Non-GAAP operating earnings of $1.7 billion, or $5.64 per share. For the fourth quarter 2025, net income was $215 million, or $0.70 per share, with Non-GAAP operating earnings of $513 million, or $1.73 per share.
The company returned $1.8 billion to shareholders in 2025 and generated $1.6 billion in organic cash, which is projected to increase to c.$1.8 billion in 2026.
Total Assets Under Management/Administration (AUM/A) reached a record $1.1 trillion as of December 31, 2025, marking a 10% year-over-year increase. This growth was supported by strategic initiatives, including the reinsurance of 75% of its individual life block, which freed over $2 billion of capital.

2 days ago

8-K

Equitable Holdings Reports Strong Q3 2025 Results, Advances Strategic Growth Initiatives

EQH

Earnings

Guidance Update

M&A

Equitable Holdings reported non-GAAP operating earnings per share of $1.67 for Q3 2025, an increase of 2% year-over-year, with total assets under management and administration rising 7% year-over-year to $1.1 trillion.
The company saw strong performance in its Asset Management and Wealth Management segments, with Asset Management earnings up 39% year-over-year and AUM reaching a record $860 billion, while Wealth Management earnings increased 12% year-over-year with $6.2 billion in year-to-date advisory net inflows.
Equitable Holdings returned $757 million to shareholders in Q3 2025, including $676 million in share repurchases, and has reduced its share count by approximately 8% over the past four quarters.
The company reaffirmed its 12%-15% EPS CAGR target and $2 billion annual cash generation target for 2027, and announced the acquisition of Stifel Independent Advisors, expected to add $10 million to Wealth Management earnings in 2027.

Nov 5, 2025, 2:00 PM

Transcript

EQH Announces Strong Q3 2025 Results with Record AUM/A and Significant Capital Deployment

EQH

Earnings

Share Buyback

M&A

EQH reported Non-GAAP operating earnings per share of $1.67 (adjusted for notable items) for Q3 2025, an increase of 2% year-over-year, and achieved record Assets Under Management/Administration (AUM/A) of $1.1 trillion, up 7% from the prior year quarter.
The company demonstrated healthy organic growth momentum, with Retirement net inflows of $1.1 billion (3% annualized organic growth rate) and Wealth Management advisory net inflows of $2.2 billion (12% annualized organic growth rate) in the quarter.
EQH deployed $1.5 billion in capital during Q3 2025, including $757 million returned to shareholders (comprising $676 million in share repurchases) and a $500 million reduction in debt.
Strategic initiatives included the announced acquisition of Stifel Independent Advisors, which has over 110 advisors and approximately $9 billion of AUM, and an allocation of $100 million to support AB's investment in FCA Re.

Nov 5, 2025, 2:00 PM

Presentation

Equitable Holdings Reports Q3 2025 Results with Increased Earnings Power and Strategic Investments

EQH

Earnings

M&A

Share Buyback

Equitable Holdings reported non-GAAP operating earnings of $455 million, or $1.48 per share, for Q3 2025, with adjusted non-GAAP operating EPS at $1.67, reflecting a 2% increase year-over-year.
The company allocated $1.5 billion of capital, including returning $757 million to shareholders (with $676 million in share repurchases) and reducing outstanding debt by $500 million.
Assets under management reached a record $1.1 trillion, up 4% sequentially, driven by $1.1 billion in retirement net flows and $2.2 billion in wealth management advisory net inflows.
Strategic investments included the acquisition of Stifel Independent Advisors, which has over 110 advisors and $9 billion of advisory assets, and a $100 million allocation to support AB's investment in FCA REIT.
Wealth management earnings are on track to reach $200 million in 2025, two years ahead of plan, and are expected to continue growing at a double-digit rate.

Nov 5, 2025, 2:00 PM

Transcript

Equitable Holdings Reports Q3 2025 Results with Increased Earnings Power and Strategic Investments

EQH

Earnings

Share Buyback

New Projects/Investments

Equitable Holdings reported Non-GAAP operating earnings of $455 million and adjusted non-GAAP operating EPS of $1.67 for Q3 2025, which is up 2% compared to the prior year.
The company allocated $1.5 billion of capital, including returning $757 million to shareholders through $676 million in share repurchases and reducing outstanding debt by $500 million.
Strategic investments included the acquisition of Stifel Independent Advisors, which has over 110 advisors and $9 billion of advisory assets, and allocating $100 million to support AB's investment in FCA REIT.
Assets Under Management (AUM) reached a record $1.1 trillion, up 7% year over year, driven by strong organic growth momentum across retirement, asset management, and wealth management businesses.
EQH remains confident in achieving its 12-15% EPS CAGR and $2 billion of annual cash generation targets by 2027.

Nov 5, 2025, 2:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for Equitable Holdings.

Q4 2025

Feb 5, 2026

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Q3 2025

Nov 5, 2025

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Q2 2025

Aug 6, 2025

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View All Transcripts

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Equitable Holdings (EQH)

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Q3 2025

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Executives

Mark Pearson

Jeffrey Hurd

José González

Nick Lane

Robin Raju

Seth Bernstein

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Arlene Isaacs-Lowe

Bertram Scott

Charles Stonehill

Craig MacKay

Daniel Kaye

Douglas Dachille

Francis Hondal

George Stansfield

Joan Lamm-Tennant

Analyst Coverage

Suneet Kamath

Michael Ward

Alex Scott

Joel Hurwitz

Ryan Krueger

Thomas Gallagher

Jimmy Bhullar

Mark Hughes

Elyse Greenspan

Francis Matten

Jamminder Bhullar

Tom Gallagher

Wes Carmichael

Wilma Jackson Burdis

Yaron Kinar

Cave Montazeri

Jack Matten

Maxwell Fritscher

Mick Anita

Nicholas Annitto

Wilma Burdis

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