NYSE$CRBG
Corebridge Financial Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Corebridge reported strong Q2 2023 results driven by focused execution, disciplined risk management and the competitive strengths of diversified businesses.
Corebridge Financial reported an excellent quarter with significant growth in premiums and deposits (42%) and base spread income (42%). Net income was $771 million, and adjusted after-tax operating income was $679 million. The company returned $750 million to shareholders through dividends and share repurchases.
- Premiums and deposits grew 42% compared to the prior year quarter.
- Base spread income grew 42% while base yield expanded 76 basis points compared to the prior year quarter.
- Net income of $771 million, or $1.18 per share, largely reflects strong base portfolio income as well as favorable mark to market movements on embedded derivatives and market risk benefits
- Returned $750 million to shareholders during the quarter in the form of dividends and share repurchases.
Headline financials
Revenue & EPS history
Corebridge · Revenue · Quarterly
$5.76B
Revenue by segment
Corebridge · $5.79B total across 4 segments · Q2 2023
- Institutional Markets$2.37B—40.9%
- Individual Retirement$1.57B—27.1%
- Life Insurance$1.17B—20.2%
- Group Retirement$686M—11.8%
Forward guidance
Corebridge remains focused on executing strategies and optimizing capital to generate long-term growth in shareholder value.
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 Q2 2023
-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
| Quarter | Report date | Reaction (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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