Equitable Holdings Q3 net loss of $1.3 billion on life reinsurance transaction; EPS down
Equitable Holdings reported a third-quarter 2025 net loss attributable to Holdings of $1.3 billion, or $(4.47) per share, compared with a $132 million loss a year earlier, mainly due to a one-time impact from its life reinsurance transaction with RGA. Non-GAAP operating earnings fell to $455 million, or $1.48 per share, from $517 million, or $1.58 per share, a year earlier, though the company said it remains on track for its 2027 targets.
Key points
- Net loss attributable to Holdings of $1.3 billion, or $(4.47) per share, versus a $132 million loss, or $(0.46) per share, in Q3 2024; primarily driven by a one-time impact from the life reinsurance transaction
- Non-GAAP operating earnings of $455 million, or $1.48 per share, versus $517 million, or $1.58 per share, a year earlier; $510 million, or $1.67 per share, excluding notable items
- Retirement net inflows of $1.1 billion and Wealth Management advisory net inflows of $2.2 billion; Asset Management net outflows of $2.3 billion, or inflows of $1.7 billion excluding the RGA transaction
- On October 27, the company announced the acquisition of Stifel Independent Advisors, with more than 110 advisors and about $9 billion of client assets
The filing
Written by AI on Nov 8, 2026, 1:12 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 04, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.