Equitable Holdings (EQH) Company Report

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

Equitable Holdings Reports Q3 2025 Results with Net Loss and Capital Deployment

EQH

Earnings

Share Buyback

M&A

Equitable Holdings reported a net loss of $1.3 billion, or $(4.47) per share, for the third quarter of 2025, primarily due to a one-time impact from a life reinsurance transaction.
Non-GAAP operating earnings for Q3 2025 were $455 million, or $1.48 per share, which increased to $510 million, or $1.67 per share, when adjusted for notable items.
The company deployed $1.5 billion in capital, including $757 million for buybacks and dividends, and $500 million for debt repayment.
Total Assets Under Management/Administration (AUM/A) reached a record $1.1 trillion as of September 30, 2025, representing a 7% year-over-year increase.
Equitable Holdings announced the acquisition of Stifel Independent Advisors, which has more than 110 advisors and approximately $9 billion of client assets, to scale its Wealth Management operations.

Nov 4, 2025, 9:17 PM

8-K

Equitable Holdings Reports Third Quarter 2025 Results

EQH

Earnings

Share Buyback

M&A

Equitable Holdings reported a net loss of $1.3 billion, or $(4.47) per share, for the third quarter ended September 30, 2025, primarily driven by a one-time impact from a life reinsurance transaction.
Non-GAAP operating earnings for the third quarter of 2025 were $455 million, or $1.48 per share, which increased to $510 million, or $1.67 per share, when adjusted for notable items.
The company saw strong organic growth momentum with net inflows of $1.1 billion in Retirement, $2.2 billion in Wealth Management, and $1.7 billion in Asset Management (excluding the impact from the life reinsurance transaction).
Equitable Holdings deployed $1.5 billion of capital, including $757 million for buybacks and dividends, $500 million for debt repayment, and approximately $200 million for growth investments, and announced the acquisition of Stifel Independent Advisors.

Nov 4, 2025, 9:15 PM

Press Release

Equitable Holdings Announces Redemption of Series B Depositary Shares

EQH

Equitable Holdings, Inc. will redeem all outstanding Series B Depositary Shares on September 30, 2025.
The redemption price for each Series B Depositary Share is $1,000, plus declared and unpaid dividends from June 15, 2025, to September 30, 2025.
Each Series B Depositary Share represents a 1/25th interest in a share of the company's 4.950% Fixed Rate Reset Noncumulative Perpetual Preferred Stock, Series B.

Sep 15, 2025, 8:15 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for Equitable Holdings.

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