Equitable Holdings, Inc. ( (EQH) ) has released its Q3 earnings. Here is a breakdown of the information Equitable Holdings, Inc. presented to its investors.
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Equitable Holdings, Inc. is a prominent financial services holding company, consisting of established businesses such as Equitable, AllianceBernstein, and Equitable Advisors, providing services including retirement planning, investment management, and wealth management.
Equitable Holdings reported its third quarter 2024 financial results, showcasing a robust growth trajectory with significant net inflows across its key segments of Retirement, Wealth Management, and Asset Management, despite posting a net loss for the quarter.
The company achieved record assets under management of $1 trillion, marking a 20% increase from the previous year. Although facing a net loss of $134 million, Equitable Holdings saw a substantial rise in Non-GAAP operating earnings to $501 million. Wealth Management and Asset Management segments reported strong net inflows, while the Individual Retirement segment saw a 27% increase in first-year premiums, indicating positive market engagement.
Furthermore, Equitable Holdings returned $330 million to shareholders, aligning with its payout ratio target. The company remains optimistic about cash generation, projecting it at the higher end of its guidance range for 2024, and is on track to achieve its strategic targets by 2027.
Looking ahead, Equitable Holdings’ management remains focused on capitalizing on current market conditions and sustaining growth across its major business segments, aiming to enhance shareholder value and meet its financial objectives.
