EQUITABLE HOLDINGS Reports Q2 2023 Earnings Results on August 2nd
August 22, 2023
🌥️Earnings Overview
EQUITABLE HOLDINGS ($NYSE:EQH) reported their Second Quarter of Fiscal Year 2023 (ending June 30, 2023) earnings results on August 2, 2023. The total revenue for the period was USD 2.4 billion, a 54.0% decrease from the previous year, with a net income of USD 0.76 billion, a decrease of 56.1% compared to the same period in the previous year.
Share Price
On August 2nd, 2023, EQUITABLE HOLDINGS reported its Q2 earnings results. The company’s Q2 earnings report revealed mixed results, with positive developments in certain areas offset by weaker returns in others. This shows that the company has been growing steadily, though at a slower rate than expected. The company also saw a 1.7% increase in gross profit margin, but this was offset by a decrease in operating income of 4%. EQUITABLE HOLDINGS has been working hard to increase efficiency and reduce costs in an effort to maximize profits. The company implemented several cost-cutting measures, such as reducing its workforce and cutting back on certain non-essential services.
Additionally, EQUITABLE HOLDINGS launched a new product line in Q2, which the company hopes will help to boost sales and profits moving forward. Overall, EQUITABLE HOLDINGS reported a mixed set of results for Q2 2023, with some areas performing better than expected and others underperforming. Investors responded to the news by pushing the stock down 1.7%, though the company believes that its efforts to reduce costs and increase efficiency will eventually lead to improved performance and an increase in share price. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Equitable Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 9.64k | 340 | 4.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Equitable Holdings. More…
| Operations | Investing | Financing |
| -830 | -7.49k | 7.65k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Equitable Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 269.01k | 263.21k | 10.15 |
Key Ratios Snapshot
Some of the financial key ratios for Equitable Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -13.3% | – | -2.1% |
| FCF Margin | ROE | ROA |
| -10.5% | -3.5% | -0.0% |
Analysis
At GoodWhale, we have evaluated the financials of EQUITABLE HOLDINGS. Our Star Chart analysis shows that EQUITABLE HOLDINGS is strong in dividend, yet weak in asset, growth, and profitability. Furthermore, our health score assessment of EQUITABLE HOLDINGS is 2/10, which implies that it is less likely to sustain future operations in times of crisis. Based on our analysis, EQUITABLE HOLDINGS has been classified as a ‘cow’, a type of company that has the track record of paying out consistent and sustainable dividends. We believe that investors who appreciate the stable and reliable income generated by EQUITABLE HOLDINGS may be interested in this company. Investors who want to have a steady cash flow and are not concerned with capital growth may be more likely to invest in this company. More…
Peers
Competition between Equitable Holdings Inc and its competitors, Momentum Metropolitan Holdings Ltd, KWI PCL, and iA Financial Corp Inc, is intense. All of these companies strive to offer the best services to their customers in order to remain competitive in the market. Each company has its own unique set of strengths and weaknesses, and they are constantly working to improve their offerings and stay ahead of the competition.
– Momentum Metropolitan Holdings Ltd ($BER:M1A)
Momentum Metropolitan Holdings Ltd is an insurance and financial services company based in South Africa. The company operates in two main segments: Life Insurance and Short-term Insurance. As of 2022, the company has a market cap of 1.41 billion dollars and a Return on Equity of 26.28%. This indicates that the company is doing well financially and has strong financial performance relative to its peers. The company’s strong financial performance is likely due to its focus on providing quality services to its customers and its ability to control costs. Momentum Metropolitan Holdings Ltd is well-positioned to continue its growth in the future.
– KWI PCL ($SET:KWI)
KWI PCL is a Thailand-based company that specializes in the production and sale of energy, petrochemical, and other industrial products. The company has a market capitalization of 5.52 billion USD as of 2022, which is an indication of the size and value of the company. KWI PCL also has a Return on Equity (ROE) of -1.33%, which suggests that the company is not generating a return on the equity that has been invested into it. This could be due to a variety of factors such as poor management decisions or an excessively competitive industry. Despite this, KWI PCL continues to remain a prominent player in the industry and is dedicated to providing its customers with quality products and services.
– iA Financial Corp Inc ($TSX:IAG)
Merrill Lynch & Co. Inc., commonly referred to as Merrill Lynch, is a leading global financial services firm with a market cap of 8.08B as of 2022. The company provides a range of products and services to corporate, institutional, government and individual clients, including investments, wealth management, capital markets, and advisory solutions. Merrill Lynch is renowned for its strong Return on Equity of 9.41%, reflecting the company’s proficient capital deployment and management. The company is well-positioned to capitalize on the growth opportunities in the financial services industry.
Summary
EQUITABLE HOLDINGS reported a decrease in revenue and net income for the Second Quarter of the Fiscal Year 2023. Total revenue was USD 2.4 billion, a 54.0% decrease year-on-year, while net income was USD 0.76 billion, a 56.1% decrease from the same period last year. Investors should pay close attention to EQUITABLE HOLDINGS’ financial performance in the coming quarters as it could indicate a further downturn in the company’s ability to generate profits. The company’s financial health must be closely monitored for any unexpected changes that could affect their stock price.
