NASDAQ$BHF

Brighthouse Financial Inc · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Brighthouse Financial announced first quarter 2021 results, reporting a net loss available to shareholders of $610 million, or $6.96 per diluted share, and adjusted earnings, less notable items, of $428 million, or $4.86 per diluted share.

Brighthouse Financial reported a net loss available to shareholders of $610 million, or $6.96 per diluted share, for the first quarter of 2021. However, adjusted earnings, less notable items, were $428 million, or $4.86 per diluted share. The company's annuity and life sales increased, and it repurchased $123 million of its common stock year-to-date through May 7, 2021.

  • Estimated combined risk-based capital ("RBC") ratio between 500% and 520%; holding company liquid assets of $1.6 billion
  • The company repurchased $123 million of its common stock year-to-date through May 7, 2021
  • Annuity sales increased 8% over the first quarter of 2020
  • Life sales increased 44% over the first quarter of 2020

Headline financials

Total Revenue

$938M

Previous: $8.99B-89.6%
EPS (adj)

$4.86

Previous: $2.60+86.9%
Book Value Per Share

$157.26

Previous: $198.62-20.8%
Book Value ex AOCI

$118.24

Previous: $172.28-31.4%
Holding Company Liquid Assets

$1.6B

Previous: $1B+60.0%
Ending Common Shares Outstanding

86.8M

Previous: 100.5M-13.6%
Free Cash Flow

-$585M

Previous: $4.96B-111.8%
Net Income

-$585M

Previous: $4.96B-111.8%
Operating Income

-$855M

Previous: $6.88B-112.4%
Gross Profit

-$293M

Previous: $7.4B-104.0%
Cash & Equivalents

$4.03B

Previous: $8.93B-54.9%
Total Assets

$242B

Previous: $224B+8.0%

Revenue & EPS history

Brighthouse Financial · Revenue · Quarterly

$938M

Q1 2021-89.6%vs Q1 2020
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Brighthouse Financial · $2.06B total across 4 segments · Q3 2023

  • Net Investment Income
    $1.2B+37.1%
  • Universal Life & Policy Fees
    $542M-30.8%
  • Premiums
    $194M+19.8%
  • Other Revenues
    $125M+3.3%

Forward guidance

The company did not provide forward guidance in the Q1 2021 earnings report.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

-0.6%

Avg return

Earnings day

-0.2%

Avg return

5 days after

-2.5%

Avg return

30 days after

43%

16 / 37 earnings

Positive

+15.3%

Q4 2018

Best reaction

-11.5%

Q4 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.5%-2.4%+0.1%
Q4 2025-1.3%-4.1%-3.3%
Q3 2025+0.5%+0.2%-0.5%
Q1 2025-0.8%+2.3%+1.5%
Q4 2024+0.0%+6.2%-4.9%
Q3 2024-4.5%-0.8%-3.5%
Q2 2024-4.1%-7.2%-3.9%
Q1 2024-9.8%-10.0%-15.5%
Q4 2023-11.5%-9.6%-9.6%
Q3 2023-2.8%-2.3%+9.2%
Q2 2023-6.2%-7.5%-9.6%
Q1 2023-2.5%-7.2%+6.0%
Q4 2022-1.0%+2.2%-16.6%
Q3 2022-6.8%-2.7%-5.5%
Q2 2022+2.9%+6.9%+6.9%
Q1 2022-9.3%-12.1%-5.8%
Q4 2021-3.6%-3.1%-22.3%
Q3 2021+1.2%-2.3%-8.2%
Q2 2021+13.6%+12.3%+17.3%
Q1 2021-0.9%+1.0%-5.4%
Q4 2020-3.4%-4.7%+6.3%
Q3 2020+0.6%+19.0%+19.7%
Q2 2020+3.5%+8.4%+9.3%
Q1 2020-6.2%-7.1%+20.9%
Q4 2019+10.4%+10.5%-43.1%
Q3 2019+5.1%+5.0%-1.8%
Q2 2019+3.4%+0.5%+1.4%
Q1 2019-4.9%-6.8%-13.1%
Q4 2018+15.3%+18.9%+9.4%
Q3 2018+7.6%+1.6%-5.2%
Q2 2018-0.6%-8.7%-5.5%
Q1 2018+1.1%-3.3%-5.9%
Q4 2017-6.0%-0.3%-7.5%
Q3 2017+0.5%-1.6%+6.9%
Q2 2017+0.2%+0.2%-3.0%
Q1 2017+0.2%+0.2%-3.0%
Q4 2016+0.2%+2.3%-3.8%
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015

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