Equitable Holdings Reports Q3 2026 Results with $1.1B Net Income and Reaffirms Corebridge Merger Timeline

Overview

On November 2, 2026, Equitable Holdings, Inc. (NYSE: EQH) filed a Form 8-K furnishing its third quarter 2026 financial results under Item 2.02 and Regulation FD disclosure under Item 7.01.

Key Financial Highlights

• Net Income: Reported net income attributable to Holdings of $1.121 billion ($4.05 per share), swinging from a net loss of $(1.309) billion ($(4.47) per share) in Q3 2025.
• Non-GAAP Operating Earnings: $595 million ($2.13 per share), up from $455 million ($1.48 per share) in Q3 2025. Excluding notable items of $(41) million, operating earnings were $554 million ($1.98 per share), an increase of 19% year-over-year.
• Assets Under Management / Administration (AUM/A): Grew 4% year-over-year to $1.156 trillion.
• Book Value per Share:
  • Including AOCI: $(10.69)
  • Excluding AOCI: $20.17
  • Excluding AOCI with AllianceBernstein at fair market value: $34.25

Segment Performance

• Retirement: Total assets reached $189.0 billion (+10% YoY); first-year premiums grew 14% to $6.2 billion; net inflows were $1.1 billion; operating earnings reached $432 million.
• Asset Management (AllianceBernstein): Total AUM rose 5% YoY to $900.4 billion with quarterly net inflows of $6.6 billion; operating earnings were $152 million.
• Wealth Management: Total AUA grew 19% YoY to $140.4 billion; advisory net inflows reached $2.7 billion; operating earnings rose to $75 million.
• Corporate & Other: Operating loss narrowed to $64 million ($82 million ex-notables) from $163 million in Q3 2025.

Capital Return and Strategic Updates

• Capital Return: Returned $320 million ($82 million in dividends, $238 million in share repurchases), with a 59% quarterly payout ratio, remaining on target for a full-year 60–70% payout ratio.
• Holding Company Liquidity: Cash and liquid assets stood at $0.9 billion, above the $500 million target minimum.
• Mergers & Divestitures:
  • Sale of the Employee Benefits business to The Hartford completed on October 13, 2026.
  • Pending merger with Corebridge Financial remains on track to close by year-end 2026, subject to regulatory approvals.