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Corebridge Financial, Inc. (CRBG)
NYSE:CRBG
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Earnings Data
Report Date
Feb 14, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.24Last Year’s EPS
$1.04Same Quarter Last Year
Strong Buy
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: -5.28%
|Next Earnings Date:Feb 14, 2025
Earnings Call Sentiment|Positive
Corebridge Financial demonstrated strong financial performance with significant growth in operating earnings and capital returns to shareholders. The company continues to expand its annuity and life insurance offerings, achieving notable sales growth. However, there are short-term pressures on spread income due to potential rate changes and ongoing net outflows in the Group Retirement segment.Company Guidance
During the Corebridge Financial Q3 2024 earnings call, several key metrics were highlighted to showcase the company's robust performance and strategic focus. Operating earnings per share increased by 31% year-over-year to $1.38, while the run rate EPS saw a 13% rise over the same period. Core sources of income grew 4% annually and 5% sequentially, driven by increases in fee, spread, and underwriting income. Notably, total capital returned to shareholders reached $848 million, fueled partly by proceeds from the sale of the U.K. Life Insurance business. Individual Retirement premiums and deposits saw a 40% year-over-year surge to $5.5 billion. Additionally, Corebridge achieved a run rate return on equity of 13.3%, well within its target range. The company also realized $320 million in savings from its Corebridge Forward initiative, with an expectation of an additional $80 million through 2025.Strong Operating Earnings Growth
Corebridge Financial reported operating earnings per share of $1.38, representing a 31% increase year-over-year.
Capital Return to Shareholders
Total capital returned to shareholders for the third quarter was $848 million, including proceeds from the sale of the U.K. Life Insurance business.
Expansion of Annuity Platform
Individual Retirement premiums and deposits increased 40% year-over-year to $5.5 billion. Corebridge launched its first registered index-linked annuity (RILA), marking its largest new product launch.
Life Insurance Sales Growth
Life Insurance sales grew 14% year-over-year, outpacing the industry for 8 consecutive quarters.
Institutional Markets Growth
Institutional Markets reserves increased 20% year-over-year, supporting ongoing earnings growth.
Strong Balance Sheet and Return on Equity
Achieved a run rate ROE of 13.3%, a 130 basis point improvement year-over-year and within the target range.
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CRBG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CRBG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $31.31 | $29.77 | -4.92% |
| Jul 31, 2024 | $29.08 | $27.27 | -6.22% |
| May 03, 2024 | $27.46 | $28.00 | +1.97% |
| Feb 15, 2024 | $23.77 | $24.21 | +1.85% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Corebridge Financial, Inc. (CRBG) report earnings?
Corebridge Financial, Inc. (CRBG) is schdueled to report earning on Feb 14, 2025, TBA Not Confirmed.
What is Corebridge Financial, Inc. (CRBG) earnings time?
Corebridge Financial, Inc. (CRBG) earnings time is at Feb 14, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CRBG EPS forecast?
CRBG EPS forecast for the fiscal quarter 2024 (Q4) is $1.24.
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