NASDAQ$BHF

Brighthouse Financial Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Brighthouse Financial reported a net loss due to net derivative mark-to-market losses, but adjusted earnings remained positive and annuity sales increased.

Brighthouse Financial reported a net loss available to shareholders of $1,077 million, or $10.02 per diluted share, driven primarily by net derivative mark-to-market losses. However, adjusted earnings, less notable items, were $265 million, or $2.46 per diluted share. Annuity sales grew 10 percent over the fourth quarter of 2018, and the company repurchased approximately $128 million of its common stock during the quarter.

  • Net loss available to shareholders was $1,077 million, or $10.02 per diluted share, driven by net derivative mark-to-market losses.
  • Adjusted earnings, less notable items, were $265 million, or $2.46 per diluted share.
  • Annuity sales grew 10 percent over the fourth quarter of 2018.
  • Company repurchased approximately $128 million of its common stock during the quarter and announced authorization of the repurchase of up to an additional $500 million of common stock.

Headline financials

Total Revenue

$2.16B

Previous: $2.07B+4.4%
EPS (adj)

$2.46

Previous: $1.68+46.4%
Book Value Per Share

$148.64

No prior period
Book Value ex AOCI

$118.08

No prior period
Holding Company Liquid Assets

$800M

No prior period
Ending Common Shares Outstanding

106.0M

No prior period
Net Income

-$1.07B

Previous: $1.44B-174.1%
Operating Income

-$1.37B

No prior period
Gross Profit

$306M

Previous: $4.03B-92.4%
Cash & Equivalents

$2.88B

Previous: $4.15B-30.6%
Total Assets

$227B

Previous: $206B+10.2%

Revenue & EPS history

Brighthouse Financial · Revenue · Quarterly

$2.16B

Q4 2019+4.4%vs Q4 2018
Beat estimate in 11 of 14 quarters(79%)
ActualEstimate

Revenue by segment

Brighthouse Financial · $2.16B total across 4 segments · Q4 2019

  • Universal Life & Policy Fees
    $950M
  • Net Investment Income
    $898M
  • Premiums
    $209M
  • Other Revenues
    $107M

Forward guidance

Company did not provide financial guidance

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 Q4 2019

Historical avgQ4 2019

-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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