Brighthouse Financial Q3 adjusted earnings fall; expects delay in acquisition by Aquarian Capital

Brighthouse Financial

Yesterday 22:13

Overview
US annuities and life insurer's Q3 adjusted EPS, less notable items, fell yr/yr
Net income and adjusted earnings declined from Q3 2025
Pending acquisition by Aquarian Capital delayed as regulatory approvals remain outstanding

Outlook
Brighthouse Financial says regulatory approvals for merger with Aquarian Capital unlikely by Dec 6, 2026
Company expects continued volatility in net income due to market performance and hedge-reserve differences

Result Drivers
ANNUITY SALES MIX - Lower fixed annuity sales drove an 8% yr-to-date and 12% yr/yr decline in total annuity sales, partially offset by strong Shield Level Annuities sales
UNDERWRITING MARGINS - Lower income annuity underwriting margin and higher amortization of deferred acquisition costs weighed on annuities segment earnings, partially offset by higher net investment income

Company press release: ID:nBw7NV723a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS, less notable items
 
$3.68
 
Q3 EPS
 
$5.21
 
Q3 Adjusted Net Income, less notable items
 
$213 mln
 
Q3 Net Income
 
$302 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the life & health insurance peer group is "buy."
Wall Street's median 12-month price target for Brighthouse Financial, Inc. is $65.00, about 53.1% above its November 4 closing price of $42.45
The stock recently traded at 2 times the next 12-month earnings vs. a P/E of 3 three months ago

Reuters Recommended Reads
Nov 5 - F&G Annuities Q3 adjusted earnings fall
Nov 3 - Jackson Financial Q3 retail annuity sales rise 22%, hitting record
Nov 3 - AIG Q3 net premiums written rise on commercial, personal insurance growth

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.)