Brighthouse surprises with solid Q2 earnings, beating estimates
August 14, 2023 by Doug Bailey
Brighthouse Financial Inc., one of the nation’s largest providers of annuities and life insurance, surprised investors a bit this week with what it said was “solid” second quarter financial results, buoyed by increased life insurance sales and some accounting wizardry.
The company reported an adjusted net income of $271 million, or $4.13 per share, (a loss of $175 million before accounting for non-recurring costs) compared with $144 million, or $1.91 per share, beating Wall Street estimates by $0.75 per share.
Charlotte-based Brighthouse, which was spun out of MetLife in 2017, said its annuities earnings were flat for the second quarter, at $291 million, reflecting higher expenses, lower fees and higher reserves. Click HERE to read the full story via INN
