$EQH · Equitable Holdings, Inc.
Equitable Holdings reported Q3 2026 results with Non-GAAP operating earnings of $595M ($2.13/share), up from $455M ($1.48/share) a year ago. Net income swung to $1.1B from a $1.3B loss in Q3 2025. Total AUM/A rose 4% YoY to $1.2 trillion, supported by net inflows across all three business segments. The Corebridge Financial merger remains on track to close by year-end 2026.
- Non-GAAP operating earnings of $595M ($2.13/share) vs. $455M ($1.48/share) in Q3 2025, a 44% EPS increase.
- Net income attributable to Holdings was $1.1B ($4.05/share) vs. a net loss of $1.3B in the prior-year quarter.
- Total AUM/A reached $1.2 trillion, up 4% YoY, with net inflows across all segments: $1.1B Retirement, $6.6B Asset Management, $2.7B Wealth Management.
- Returned $320M to shareholders via $82M dividends and $238M share repurchases; payout ratio of 59% in the quarter.
- Annual actuarial assumption review added $111M to net income and $28M to Non-GAAP operating earnings.
Markets closed — no regular-session reaction yet; extended-hours move not captured here.
A swing from a $1.3B net loss to $1.1B net income, 44% Non-GAAP EPS growth, and a transformative merger nearing close make this a pivotal quarter for EQH.
EQH's results reflect the broader insurance/asset management trend of benefiting from higher equity markets and strong net flows, while the pending Corebridge merger mirrors sector consolidation among retirement and protection providers.
Corebridge merger remains subject to regulatory approvals; failure to close by year-end 2026 would be a setback. Asset Management segment saw operating earnings dip to $152M from $154M YoY on lower fee rates and higher expenses despite AUM growth.