NYSE$CRBG

Corebridge Financial Inc · Q1 2025 earnings

Q1 2025 earnings · · After market close · Investor relations

Briefing

Corebridge Financial reported Q1 2025 total revenues of $3.6B with a net loss of $657M.

Total revenues were $3.59 billion as premiums and net investment income combined, partially offset by $1.41 billion of net realized losses. The company posted a net loss of $657 million attributable to Corebridge, with variable annuity and hedge marks driving volatility.

  • Q1 total revenues $3.59B.
  • Net loss attributable to Corebridge $664M.
  • Net realized losses on investments and derivatives.
  • Retirement services and life insurance spread income.

Headline financials

Total Revenue

$3.59B

Previous: $5.84B-38.5%
EPS (adj)

$1.16

Previous: $1.41-17.7%
Adjusted Return on Equity

11.8%

Previous: 11.9%-0.8%
Return on Equity

-22.7%

Previous: 30.1%-175.4%
Dividends Paid

$133M

No prior period
Capital Returned

$454M

No prior period
Holding Company Liquidity

$2.4B

No prior period
Financial Leverage Ratio

31.9%

No prior period
Capital Expenditures

$0.00

No prior period
Net Income

-$664M

Previous: $878M-175.6%
Operating Income

$810M

Previous: $1.09B-25.6%

Revenue & EPS history

Corebridge · Revenue · Quarterly

$3.59B

Q1 2025-38.5%vs Q1 2024
Beat estimate in 7 of 14 quarters(50%)
ActualEstimate

Revenue by segment

Corebridge · $4.07B total across 4 segments · Q3 2023

  • Individual Retirement
    $1.56B+19.2%
  • Life Insurance
    $1.16B+3.0%
  • Group Retirement
    $690M+1.9%
  • Institutional Markets
    $656M-40.9%

Forward guidance

Corebridge discusses spread income, hedging, and capital management; insurance earnings guidance is addressed in investor materials.

Tailwinds

  • Net investment income on general account assets.
  • Retirement services flow trends.
  • Capital return and deleveraging progress.

Headwinds

  • Mark-to-market volatility on derivatives.
  • Variable annuity hedge costs.
  • Rate sensitivity on spread-based products.

Historical earnings impact

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

Avg. return before/after earnings

Based on 16 quarterly earnings reports · overlaid with Q1 2025

Historical avgQ1 2025

-0.2%

Avg return

Earnings day

-1.2%

Avg return

5 days after

-5.7%

Avg return

30 days after

50%

8 / 16 earnings

Positive

+5.2%

Q1 2026

Best reaction

-6.9%

Q2 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+5.2%+1.0%-2.3%
Q4 2025+0.8%-0.4%-26.8%
Q3 2025+1.0%-3.2%-2.2%
Q1 2025+2.4%+1.9%+7.1%
Q4 2024-2.3%+3.3%-3.0%
Q3 2024-5.1%-2.5%+2.6%
Q2 2024-6.9%-16.3%-0.6%
Q1 2024+3.9%+9.6%+3.7%
Q4 2023+3.2%+3.1%+3.4%
Q3 2023-5.7%-7.0%-6.0%
Q2 2023+0.9%-5.3%-7.3%
Q1 2022-1.8%-0.2%+0.4%
Q1 2023-0.8%-2.6%+1.0%
Q2 2022-0.9%+0.7%-28.3%
Q4 2022-1.9%-2.2%-24.5%
Q3 2022+5.2%+1.4%-8.7%
Q4 2021
Q3 2021
Q2 2021
Q1 2021
Q4 2020

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