Equitable Holdings Inc. has announced its financial results for the third quarter ending September 30, 2025. The company's robust performance highlights a continued trajectory of growth bolstered by strategic acquisitions and effective capital management. Here’s a detailed analysis of the company's earnings along with an insightful forecast.
Equitable Holdings Inc Earnings
In the third quarter of 2025, Equitable Holdings reported a net loss of $1.3 billion or $(4.47) per share. This significant loss was primarily due to a one-time impact from a life reinsurance transaction. Despite this setback, the company achieved Non-GAAP operating earnings of $455 million or $1.48 per share. When adjusted for notable items, Non-GAAP operating earnings stood at $510 million, equivalent to $1.67 per share—a 2% increase year-over-year.
Equitable Holdings Inc Results
Below is a table showcasing some of the key financial metrics for the company.
| Financial Metric | Q3 2025 | Q3 2024 | YoY Change | Adjusted Q3 2025 |
|---|---|---|---|---|
| Net Income (Loss) | $(1.3) billion | $(132) million | Significant Loss due to reinsurance impact | |
| Non-GAAP Operating Earnings | $455 million | $517 million | Decrease | $510 million |
| Non-GAAP Operating EPS | $1.48 | - | 2% growth from prior year | $1.67 |
Revenue Breakdown
The company achieved positive net inflows across its primary business segments. Below is the revenue performance across major segments:
| Segment | Net Inflows/Outflows | Performance Drivers |
|---|---|---|
| Retirement | $1.1 billion | 13% AUM increase driven by market performance |
| Asset Management | $1.7 billion inflow | 7% AUM increase due to market performance |
| Wealth Management | $2.2 billion | 8% increase in advisor productivity |
Segment Analysis
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Retirement : Although first-year premiums increased by 3% to reach $5.5 billion, net inflows were lower compared to the previous year quarter. The operating earnings were negatively impacted by a lower net interest margin and higher expenses.
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Asset Management : Net inflows, excluding the one-time reinsurance impact, reached $1.7 billion, spurred by market gains and increased ownership in AllianceBernstein.
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Wealth Management : Showcased strong advisory net inflows of $2.2 billion and benefits from a 16% increase in AUA, largely attributed to higher advisory and distribution fees.
Key Developments
In pivotal developments, Equitable Holdings has strategically deployed $1.5 billion in capital to sustain growth and return value to shareholders. This includes $757 million in buybacks and dividends, a $500 million debt reduction, and about $200 million allocated towards growth investments. The acquisition of Stifel Independent Advisors, with over 110 advisors and approximately $9 billion in AUM, is set to strengthen their Wealth Management operations further.
Comments from Company Officers
Commenting on these results, Mark Pearson, President and CEO of Equitable Holdings, emphasized the company’s ongoing growth momentum and the efficacy of their business model. "We continue to see strong organic growth momentum, supported by our flywheel business model... Our underlying organic growth momentum, in combination with favorable market conditions, drove assets under management to a record $1.1 trillion."
Dividends and Share Repurchases
In terms of capital management, the company returned a substantial $757 million to shareholders through share repurchases and dividends, surpassing their 60-70% payout ratio, which reflects significant capital redeployment from the life reinsurance transaction proceeds.
Equitable Holdings Inc Stock Forecast
Based on current performance metrics and strategic projections for 2027, Equitable Holdings provides a cautiously optimistic outlook. With the integration of new assets and continuous growth in all major business segments, stock prices are expected to reflect favorable trends. High projections for Equitable’s stock price could reach $35, with lower estimates around $25, backed by the company’s sustained asset growth, effective capital deployment, and strategic acquisitions.
Overall, although the quarter was marked by a significant one-time loss, Equitable’s strategic economic maneuvers and operational efficiencies position it well for future growth and shareholder value creation. The acquisition of Stifel Independent Advisors and the record AUM signify confidence in the company’s ability to achieve long-term financial targets and market leadership within the financial services sector.
