Brighthouse Financial Q1 adjusted EPS misses estimates

Brighthouse Financial

06/05/2026 21:36

Overview

U.S. annuities and life insurer's Q1 adjusted EPS and net income missed analyst expectations

Company posted a larger net loss, citing market-driven volatility in hedges and reserves

Previously announced acquisition by Aquarian Capital remains on track for 2026 close

Outlook

Company did not provide specific guidance for future quarters or the full year

Result Drivers

ANNUITIES SEGMENT - Higher net investment income offset lower fees and higher amortization of deferred acquisition costs in annuities, supporting adjusted earnings

LIFE SEGMENT - Lower underwriting margin and lower net investment income drove adjusted loss in life segment, partially offset by lower expenses

NET INVESTMENT INCOME - Adjusted net investment income declined due to reduction in institutional spread margin business and lower alternative investment income

Company press release: ID:nBw2Nlgfwa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS less notable items
Miss
$4.35
$4.66 (3 Analysts)
Q1 EPS
-$13.82
Q1 Adjusted Net Income less notable items
Miss
$251 mln
$272.33 mln (3 Analysts)
Q1 Net Income
-$792 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the multiline insurance & brokers peer group is "buy."

Wall Street's median 12-month price target for Brighthouse Financial Inc is $67.50, about 7.6% above its May 5 closing price of $62.73

The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 3 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)