AXA Equitable Holdings, Inc. (EQH) Tops Q4 EPS by 4c

AXA Equitable Holdings, Inc. (NYSE: EQH) reported Q4 EPS of $0.93, $0.04 better than the analyst estimate of $0.89.

“AXA Equitable Holdings’ solid 2018 financial results reflect a strong debut year, in which we completed our initial public offering, effectively executed against our long-term strategic priorities, and created value for our clients, partners and shareholders,” said Mark Pearson, President and Chief Executive Officer. “The value we provide our more than five million clients is clearly resonating, as evidenced by sustained momentum and sales across all segments, with strong operating earnings in our Individual Retirement and Group Retirement businesses, continued margin improvement in Investment Management and Research, and ongoing stabilization of our Protection Solutions segment. For the full-year, we generated approximately $2.2 billion in Non-GAAP Operating Earnings, reflecting continued execution against our focused strategy. Additionally, our balance sheet remained robust amidst recent market volatility, with solid capitalization at CTE98 for our VA business, bolstered by the effectiveness of our hedging program.”

Mr. Pearson continued, “In less than a year as a publicly traded company, AXA Equitable Holdings has returned more than $1 billion to our shareholders in the form of quarterly dividends and share repurchases. Continuing this capital return approach, our Board of Directors has authorized a new share repurchase program of $800 million, and we intend to increase the dividend per share by 15% in the second quarter. The upward revision of our annual target payout range from 40-60% to 50-60% reflects the strength of our results, continued momentum from our differentiated businesses, and our unique positioning to deliver value across market cycles. We are confident we can achieve our long-term strategic priorities while empowering growing numbers of customers to achieve their goals for financial security and protection.”

For earnings history and earnings-related data on AXA Equitable Holdings, Inc. (EQH) click here.

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