Equitable Holdings, Inc. announced its financial results for the full year and fourth quarter ended December 31, 2024. For the full year, Non-GAAP operating earnings per share reached $5.93, marking a 29% increase from 2023, and a 20% increase excluding notable items, surpassing the company's 12-15% target.
Total Assets Under Management and Administration (AUM/A) grew by 10% year-over-year to $1.0 trillion as of December 31, 2024, driven by positive net inflows and market appreciation. The Retirement businesses reported record net inflows of $7.1 billion for the full year, including $1.6 billion in the fourth quarter, while Wealth Management saw $4.0 billion in advisory net inflows.
The company generated $1.5 billion in cash flow to the holding company in 2024, a 15% increase year-over-year, and returned $1.3 billion of capital to shareholders, aligning with its 60-70% payout ratio guidance. For 2025, Equitable forecasts Non-GAAP operating EPS growth consistent with its 12-15% target and projects cash generation to increase to $1.6-$1.7 billion.
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