Overview

* Brighthouse Q2 adjusted EPS of $3.43 misses analyst expectations, per LSEG data

* Net income rises to $60 mln from $9 mln in Q2 2024

* Company repurchased $102 mln of common stock year-to-date

Outlook

* Company anticipates volatility in net income due to market performance impacts

Result Drivers

* ANNUITY SALES - Driven by an 8% quarter-over-quarter and 16% sequential increase, primarily in fixed annuities, while Shield Level Annuities remained flat

* LIFE SALES - Increased 18% quarter-over-quarter but decreased 8% sequentially, driven by Brighthouse SmartCare

* CAPITAL POSITION - Maintained a strong estimated combined RBC ratio of 405%-425% and holding company liquid assets of $0.9 bln

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $3.43 $4.46 (8

Adjusted Analysts

EPS )

Q2 EPS $1.02

Q2 Miss $198 mln $263.20

Adjusted mln (6

Net Analysts

Income )

Q2 Net $60 mln

Income

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 6 "hold" and 2 "sell" or "strong sell"

* The average consensus recommendation for the multiline insurance & brokers peer group is "buy."

* Wall Street's median 12-month price target for Brighthouse Financial Inc ( BHF ) is $56.00, about 15.2% above its August 6 closing price of $47.48

* The stock recently traded at 2 times the next 12-month earnings vs. a P/E of 3 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)