The following is a summary of the Equitable Holdings, Inc. (EQH) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Equitable Holdings reported Q1 non-GAAP operating earnings of $490 million, or $1.43 per share, up 49% year-over-year on a per-share basis.

• After adjusting for notable items, non-GAAP operating EPS remained $1.43, up 18% compared to the previous year.

• The company bought back $253 million of stock and paid $73 million of dividends, totaling a payout ratio of 68%.

• Assets under management and administration saw a 13% increase year-over-year to $974 billion.

Business Progress:

• The Individual Retirement segment delivered 8% organic growth in the last 12 months.

• The company noted strong demand for their Retirement, Asset Management, and Wealth management solutions.

• They aim to boost growth in assets under management and administration, benefiting from a favorable interest rate environment and robust demand for their AI platform.

• The firm plans to capitalize on the growth opportunity presented by the US retirement market, with offerings with leading asset managers BlackRock and AB.

• The company is evaluating multiple options for their Protection Solutions business with reinsurers to improve profitability.

• AllianceBernstein expects continued flows into fixed income and is planning several new product launches.

• In partnership with BlackRock, new flows are expected in the institutional business line for their Group Retirement business.

• Equitable Holdings is investing actively in their Protection segment while focusing on technology to disrupt the market.

More details: Equitable IR

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