Key Highlights

  • Net income of $1.1 billion ($4.05 a share) replaced a $1.3 billion net loss ($4.47 a share) recorded a year earlier.
  • Non-GAAP operating Earnings rose to $595 million ($2.13 a share) from $455 million ($1.48 a share).
  • Adjusting for notable items, operating earnings stood at $554 million, or $1.98 per share, a 19% increase year over year.
  • Total Assets under management and administration hit $1.156 trillion, a 4% rise from one year earlier.
  • Shareholders received $320 million during the quarter, which equals a 59% payout ratio.

Profit Returns After Last Year's Deficit as Revenue Climbs to $3.881 Billion

Equitable Holdings (NYSE:EQH) released quarterly figures on Nov 2, 2026, for the period closing Sep 30, 2026. Attributable Net Income reached $1.1 billion, or $4.05 a share, reversing a $1.3 billion loss, or $4.47 a share, in the same 2025 span. Revenue climbed to $3.881 billion, up from $1.450 billion.

The group unites a retirement and protection insurance business, a majority-held international asset management arm, and roughly 4,500 financial professionals who support over 5 million client relationships.

Operating earnings on a non-GAAP basis were $595 million, $2.13 a share, compared with $455 million ($1.48) previously. The yearly actuarial assumptions review lifted net income by $111 million and operating earnings by $28 million.

Notable Items Trim Operating Earnings to $554 Million, With Operating EPS Up 19%

Notable items took $41 million off third-quarter operating earnings, leaving $554 million, or $1.98 a share, up 19% year over year. Nine-month operating EPS climbed 22%, in line with management's 2026 goal of expansion beyond 15%.

The Retirement segment produced $432 million of operating earnings, up from $405 million, helped by fee income, a wider net interest Margin and the actuarial refresh. First-year premiums reached $6.2 billion, a 14% advance, and net inflows held at $1.1 billion, the same as last year.

Wealth Management earnings reached $75 million versus $59 million, supported by $2.7 billion of advisory net inflows and advisor productivity up 14%. Assets under administration expanded 19%, landing at $140.4 billion. Corporate and Other's operating loss narrowed to $64 million from $163 million.

Asset Management Swings to $6.6 Billion of Net Inflows Led by Institutional Clients

Asset management booked $6.6 billion of net inflows, versus $2.3 billion of outflows a year earlier. Institutional Business brought in $15.7 billion, including a $12 billion allocation for commercial Mortgage loans from Equitable itself. Retail channels gave back $8.4 billion, and private wealth shed $0.7 billion.

Segment AUM stood at $900.4 billion, compared with $860.1 billion previously. Operating earnings slipped to $152 million, down from $154 million, because a reduced fee rate and heavier costs outweighed asset expansion.

Private markets holdings totaled $105 billion, and the company had put over $25 billion of its own Capital to work there, exceeding the initial $20 billion pledge. Holdings' cash and Liquid assets reached $0.9 billion, ahead of its $500 million minimum target.

Shareholder Payouts Reach $320 Million as a Year-End Merger Remains on Track

Of the $320 million distributed this quarter, $82 million went to dividends and $238 million funded buybacks. The 59% Payout Ratio is just under the 2026 goal of 60% to 70%. Excluding accumulated other comprehensive income, Book Value per share was $20.17.

The Employee Benefits unit was sold to a major insurer, with the deal finalized on Oct 13, 2026. A separate merger with another large insurer should close by the end of 2026, subject to regulatory clearances, and updates are the next item to track.