MergerMay 4, 2026, 04:23 PM
Equitable Holdings Q1 EPS $2.14; Announces Corebridge Financial Merger
AI Summary
Equitable Holdings reported strong first-quarter 2026 financial results, with net income significantly increasing to $621 million. The company also highlighted its recently announced all-stock merger with Corebridge Financial, aiming to create a leading diversified financial institution. This transaction is expected to be immediately accretive to EPS and cash generation, with over 10% accretion by year-end 2028.
Key Highlights
- Announced all-stock merger with Corebridge Financial to create a leading diversified financial institution.
- Merger expected to be immediately accretive to EPS and cash generation, with 10%+ accretion by year-end 2028.
- Net income attributable to Holdings was $621 million, up from $63 million in Q1 2025.
- Non-GAAP operating earnings per share increased 25% to $1.62, or $1.68 excluding notable items.
- Total Assets Under Management/Administration (AUM/A) reached $1.1 trillion, a 9% year-over-year increase.
- Retirement segment reported net inflows of $1.3 billion; Wealth Management had advisory net inflows of $2.0 billion.
- Asset Management segment reported net outflows of $7.1 billion, primarily from active equities.
- Returned $223 million to shareholders in Q1, including $76 million in dividends and $147 million in share repurchases.