Equitable Holdings, Inc. announced financial results for the second quarter ended June 30, 2025, reporting Non-GAAP operating earnings per share of $1.10, or $1.41 excluding notable items. This represents an 8% decrease from the prior year quarter, primarily due to elevated mortality in its Individual Life block.
Despite the earnings impact, the company reported strong organic growth momentum, with net flows of $1.9 billion in Retirement and $2.0 billion in Wealth Management. Total Assets Under Management and Administration (AUM/A) increased by 8% year-over-year to $1.1 trillion as of June 30, 2025.
Equitable achieved several strategic milestones during the quarter, most notably closing its Individual Life reinsurance transaction with RGA on July 31st, creating over $2 billion of value. The company expects earnings per share growth to accelerate in the second half of 2025 and remains confident in achieving its 2027 financial targets.
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