Press release
Brighthouse Financial Announces First Quarter 2022 Results
Estimated combined risk-based capital ("RBC") ratio between 450% and 470%; holding company liquid assets of $1.4 billion The company repurchased $180 million
About this update from Brighthouse Financial, Inc.
[{"type":"text","content":"\n\nEstimated combined risk-based capital (\"RBC\") ratio between 450% and 470%; holding company liquid assets of $1.4 billion\n\n\nThe company repurchased $180 million of its common stock year-to-date through May 5, 2022\n\n\nAnnuity sales decreased 3% over the first quarter of 2021\n\n\nLife sales decreased 13% over the first quarter of 2021\n\n\nFirst quarter 2022 net income available to shareholders of $613 million, or $7.91 per diluted share\n\n\nFirst quarter 2022 adjusted earnings, less notable items*, of $315 million, or $4.07 per diluted share\n\n\n CHARLOTTE, N.C.--(BUSINESS WIRE)--\nBrighthouse Financial, Inc. (\"Brighthouse Financial\" or the \"company\") (Nasdaq: BHF) announced today its financial results for the first quarter ended March 31, 2022.\n\nFirst Quarter 2022 Results\n\nThe company reported net income available to shareholders of $613 million in the first quarter of 2022, or $7.91 per diluted share, compared with a net loss available to shareholders of $610 million in the first quarter of 2021. During the quarter, as a result of market performance, the value of our hedges increased, as expected. Due to being accounted for as insurance liabilities as required under U.S. GAAP accounting, certain corresponding liabilities are less sensitive to market movements and, therefore, did not fully offset the increase in the value of our hedges.\n\nThe company ended the first quarter of 2022 with common stockholders' equity (\"book value\") of $11.1 billion, or $146.64 per common share, and book value, excluding accumulated other comprehensive income (\"AOCI\") of $10.8 billion, or $141.85 per common share.\n\nFor the first quarter of 2022, the company reported adjusted earnings* of $294 million, or $3.79 per diluted share, compared with adjusted earnings of $385 million, or $4.36 per diluted share, in the first quarter of 2021.\n\n* Information regarding the non-GAAP and other financial measures included in this news release and a reconciliation of such non-GAAP financial measures to the most directly comparable GAAP measures are provided in the Non-GAAP and Other Financial Disclosures discussion below, as well as in the tables that accompany this news release and/or the First Quarter 2022 Brighthouse Financial, Inc. Financial Supplement and/or the First Quarter 2022 Brighthouse Financial, Inc. Earnings Call Present...