Equitable Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 02, 2022 at 04:25 pm EDT
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Equitable Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was USD 3,009 million compared to USD 3,615 million a year ago. Net income was USD 273 million compared to USD 672 million a year ago. Basic earnings per share from continuing operations was USD 0.69 compared to USD 1.6 a year ago. Diluted earnings per share from continuing operations was USD 0.69 compared to USD 1.59 a year ago.
For the nine months, revenue was USD 12,121 million compared to USD 7,718 million a year ago. Net income was USD 2,574 million compared to net loss of USD 693 million a year ago. Basic earnings per share from continuing operations was USD 6.62 compared to basic loss per share from continuing operations of USD 1.76 a year ago. Diluted earnings per share from continuing operations was USD 6.58 compared to diluted loss per share from continuing operations of USD 1.76 a year ago.
Equitable Holdings, Inc. is the holding company for a diversified financial services organization. The Companyâs segments include Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management and Legacy. The Individual Retirement segment offers a diverse suite of variable annuity products which are primarily sold to affluent and high-net-worth individuals. The Group Retirement segment offers tax-deferred investment and retirement services or products. The Investment Management & Research segment provides diversified investment management, research, and related solutions globally. The Protection Solutions segment includes its life insurance and group employee benefits businesses. The Wealth Management segment offers discretionary and non-discretionary investment advisory accounts, financial planning and advice, life insurance, and annuity products. Legacy segment primarily consists of its capital-intensive fixed-rate GMxB business.