Brighthouse Financial, Inc. · NASDAQ:BHF
Brighthouse Financial — Q3 2018 Earnings Presentation
12 slides from Brighthouse Financial's earnings presentation, Nov 5, 2018
Slide 1: Brighthouse Financial, Inc. Third Quarter 2018 Earnings Call Presentation
Brighthouse Financial, Inc. Third Quarter 2018 Earnings Call Presentation
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
Slide 3: 3Q 2018 financial highlights
3Q 2018 financial highlights • Repurchased $42 million of stock in 3Q 2018; additional ~$22 million in October • Variable annuity (VA) assets above CTE98 in excess of $600 million, including the impact of NAIC VA capital reform • Adjusted earnings, less notable items1, of $314 million improved seque
Slide 4: Net income (loss) available to shareholders; adjusted earnings
Net income (loss) available to shareholders; adjusted earnings For the Three Months Ended September 30, 2018 June 30, 2018 September 30, 2017 ($ in millions, except per share Total Per share Total Per share Total Per share amounts) Net income (loss) available to shareholders ($271) ($2.26) ($239) ($
Slide 5: 3Q 2018 adjusted earnings per share drivers
3Q 2018 adjusted earnings per share drivers For the Three Months Ended September 30, 2018 3Q 2018 adjusted EPS, less notable items (1) $2.60 Select adjusted EPS drivers (estimated impacts) Higher alternative investment income vs. 2017 quarterly average $0.16 Market performance above base case scenar
Slide 6: Appendix
Appendix
Slide 7: Non-GAAP and Other Financial Disclosures
Non-GAAP and Other Financial Disclosures Our definitions of the non-GAAP and other financial measures may differ from those used by other companies. Non-GAAP Financial Disclosures We present certain measures of our performance that are not calculated in accordance with GAAP. We believe that these no
Slide 8: Non-GAAP and Other Financial Disclosures (Cont.)
Non-GAAP and Other Financial Disclosures (Cont.) Adjusted earnings reflects adjusted revenues less adjusted expenses, both net of income tax, and excludes net income (loss) attributable to noncontrolling interests. Provided below are the adjustments to GAAP revenues and GAAP expenses used to calcula
Slide 9: Non-GAAP and Other Financial Disclosures (Cont.)
Non-GAAP and Other Financial Disclosures (Cont.) Other Financial Disclosures Corporate Expenses Corporate expenses includes functional department expenses, public company expenses, certain investment expenses, retirement funding and incentive compensation; and excludes establishment costs. Notable i
Slide 10: Non-GAAP and Other Financial Disclosures (Cont.)
Non-GAAP and Other Financial Disclosures (Cont.) Other Financial Disclosures (cont.) Sales Statistical sales information for life sales is calculated using the LIMRA definition of sales for core direct sales, excluding company-sponsored internal exchanges, corporate-owned life insurance, bank-owned
Slide 11: Adjusted earnings by segment and Corporate & Other, less notable items
Adjusted earnings by segment and Corporate & Other, less notable items For the Three Months Ended ($ in millions, post-tax) September 30, 2018 June 30, 2018 September 30, 2017 Annuities $401 $221 $355 Life $61 $37 $6 Run-off ($105) ($6) $83 Corporate & Other ($87) ($99) ($1,120) Adjusted earnings1 $
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) September 30, 2018 June 30, 2018 September 30, 2017 Net income (loss) available to shareholders ($271) ($239) ($943) Le
Brighthouse Financial — Q3 2018 Earnings Presentation on 6ix