Brighthouse Financial, Inc. · NASDAQ:BHF

Brighthouse Financial — Q4 2018 Earnings Presentation

12 slides from Brighthouse Financial's earnings presentation, February 2019

  1. Slide 1: Fourth Quarter 2018 Earnings Call Presentation

    Brighthouse Financial, Inc. Fourth Quarter 2018 Earnings Call Presentation

  2. Slide 2: Note regarding forward-looking statements

    Note regarding forward-looking statements This presentation and other oral or written statements that we make from time to time may contain information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-l

  3. Slide 3: Executive summary

    Executive summary • Full-year 2018 annuity sales up 36% compared to 2017 • Plan to launch a new hybrid life insurance product on February 13 Executing on our strategy • Exited 66 transition service agreements (TSAs) in 2018; ended the year with 81 TSAs remaining • Completed ~80% of our investment po

  4. Slide 4: Net income (loss) available to shareholders; adjusted earnings; adjusted earnings less notable items

    Net income (loss) available to shareholders; adjusted earnings; adjusted earnings less notable items For the Three Months Ended December 31, 2018 September 30, 2018 December 31, 2017 ($ in millions, except per share Total Per share (1) Total Per share (1) Total Per share (1) amounts) Net income (los

  5. Slide 5: 4Q 2018 adjusted earnings per share drivers

    4Q 2018 adjusted earnings per share drivers For the Three Months Ended December 31, 2018 4Q 2018 adjusted EPS, less notable items(1) $1.68 Select adjusted EPS drivers (estimated impacts) Market performance below base case scenario ($0.81) Higher alternative investment income vs. 2017 quarterly avera

  6. Slide 6: Appendix

    Appendix

  7. Slide 7: Non-GAAP and Other Financial Disclosures

    Non-GAAP and Other Financial Disclosures Our definitions of the non-GAAP and other financial measures may differ from those used by other companies. Non-GAAP Financial Disclosures We present certain measures of our performance that are not calculated in accordance with GAAP. We believe that these no

  8. Slide 8: Non-GAAP and Other Financial Disclosures (Cont.)

    Non-GAAP and Other Financial Disclosures (Cont.) Adjusted earnings reflects adjusted revenues less adjusted expenses, both net of income tax, and excludes net income (loss) attributable to noncontrolling interests. Provided below are the adjustments to GAAP revenues and GAAP expenses used to calcula

  9. Slide 9: Non-GAAP and Other Financial Disclosures (Cont.)

    Non-GAAP and Other Financial Disclosures (Cont.) Other Financial Disclosures Corporate Expenses Corporate expenses includes functional department expenses, public company expenses, certain investment expenses, retirement funding and incentive compensation; and excludes establishment costs. Notable i

  10. Slide 10: Non-GAAP and Other Financial Disclosures (Cont.)

    Non-GAAP and Other Financial Disclosures (Cont.) Other Financial Disclosures (cont.) Sales Statistical sales information for life sales is calculated using the LIMRA definition of sales for core direct sales, excluding company-sponsored internal exchanges, corporate-owned life insurance, bank-owned

  11. Slide 11: Adjusted earnings by segment and Corporate & Other, less notable items

    Adjusted earnings by segment and Corporate & Other, less notable items For the Three Months Ended ($ in millions, post-tax) December 31, 2018 September 30, 2018 December 31, 2017 Annuities $175 $401 $208 Life $64 $61 $5 Run-off $18 ($105) ($80) Corporate & Other ($71) ($87) $859 (1) Adjusted earning

  12. Slide 12: Reconciliation of net income (loss) to adjusted earnings and per share

    Reconciliation of net income (loss) to adjusted earnings and net income (loss) per share to adjusted earnings per share For the Three Months Ended ($ in millions, except per share) December 31, 2018 September 30, 2018 December 31, 2017 Net income (loss) available to shareholders $1,442 ($271) $668 L

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