Core Financial Performance - Corebridge Financial reported $5.02 billion in revenue for Q4 2024, a year-over-year decline of 7.4% [1] - The EPS for the same period was $1.23, compared to $1.04 a year ago, indicating a positive year-over-year change [1] - The reported revenue fell short of the Zacks Consensus Estimate of $6.02 billion, resulting in a surprise of -16.74% [1] - The company delivered an EPS surprise of +3.36%, with the consensus EPS estimate being $1.19 [1] Key Metrics Comparison - Premiums were reported at $1.14 billion, significantly below the $2.03 billion average estimate from five analysts [4] - Policy fees were $738 million, slightly below the estimated $738.72 million [4] - Net investment income totaled $2.88 billion, slightly above the average estimate of $2.84 billion [4] - Advisory fee and other income was $210 million, below the average estimate of $223.68 million [4] Revenue Breakdown - Revenue from Institutional Markets was $1.36 billion, compared to the average estimate of $1.84 billion [4] - Corporate & Other revenue was $105 million, exceeding the estimated $50.17 million [4] - Individual Retirement-Premiums revenue was $30 million, below the average estimate of $36.65 million [4] - Individual Retirement-Policy fees were $201 million, slightly above the estimated $199.35 million [4] - Group Retirement-Premiums revenue was $2 million, significantly below the average estimate of $6.04 million [4] Stock Performance - Corebridge shares returned +11.1% over the past month, outperforming the Zacks S&P 500 composite's +4.3% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance in the near term [3]

Corebridge Financial Overview - Corebridge Financial (CRBG) reported quarterly earnings of $1.23 per share, exceeding the Zacks Consensus Estimate of $1.19 per share, and up from $1.04 per share a year ago, representing an earnings surprise of 3.36% [1] - The company posted revenues of $5.02 billion for the quarter ended December 2024, which fell short of the Zacks Consensus Estimate by 16.74%, compared to $5.92 billion in the same quarter last year [2] - Corebridge has surpassed consensus EPS estimates in all four of the last quarters, but has only topped consensus revenue estimates once during the same period [2] Stock Performance and Outlook - Corebridge shares have increased approximately 10.8% since the beginning of the year, outperforming the S&P 500's gain of 3.2% [3] - The future performance of the stock will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] - The current consensus EPS estimate for the upcoming quarter is $1.27 on revenues of $5.64 billion, and for the current fiscal year, it is $5.50 on revenues of $23.02 billion [7] Industry Context - The Zacks Industry Rank places the Insurance - Multi line sector in the top 36% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - Another company in the same industry, MBIA (MBI), is expected to report a quarterly loss of $0.11 per share, with revenues projected to decline by 38.9% year-over-year [9]

Financial Performance - Corebridge Financial reported full year premiums and deposits of $41.7 billion, an 18% increase year over year[3]. - The company achieved net income of $2.2 billion for the fourth quarter, compared to a loss of $1.3 billion in the prior year quarter[6]. - Adjusted after-tax operating income (APTOI) for the full year was $3.6 billion, a 13% increase over the prior year[11]. - Total adjusted revenues for Corebridge in Q4 2024 reached $5,016 million, compared to $5,923 million in Q4 2023, reflecting a decrease of approximately 15.3%[60]. - Adjusted pre-tax operating income attributable to Corebridge for the twelve months ended December 31, 2024, was $3,605 million, an increase from $3,193 million in 2023, representing a growth of about 12.9%[58]. - Net investment income for Corebridge in Q4 2024 was $2,879 million, up from $2,568 million in Q4 2023, marking an increase of approximately 12.1%[60]. - Total adjusted revenues for the twelve months ended December 31, 2024, were $19,578 million, an increase from $21,212 million in 2023, reflecting a decrease of approximately 7.7%[63]. - Net investment income for the twelve months ended December 31, 2024, was $11,058 million, compared to $9,839 million in 2023, showing an increase of about 12.3%[63]. Shareholder Returns - The Board of Directors increased the share repurchase authorization by $2 billion and raised the quarterly dividend to $0.24 per share[4]. - The company returned $2.3 billion to shareholders in 2024, including $1.8 billion in share repurchases[18]. - Net income attributable to Corebridge common shareholders for Q4 2024 was $2,171 million, compared to a loss of $1,309 million in Q4 2023[71]. - Operating earnings per common share for Q4 2024 increased to $1.23, up from $1.04 in Q4 2023, representing a growth of 18.3%[71]. Premiums and Deposits - Premiums and deposits for the fourth quarter were $9.9 billion, a 6% decrease from the prior year quarter[9]. - Premiums and deposits in the Institutional Markets segment increased by $361 million, or 18%, over the prior year quarter[26]. - The company generated $1,140 million in premiums for Q4 2024, a decrease from $2,443 million in Q4 2023, representing a decline of approximately 53.3%[60]. - Premiums for the twelve months ended December 31, 2024, totaled $4,600 million, compared to $7,694 million in 2023, indicating a decline of about 40.1%[63]. - Individual Retirement deposits for Q4 2024 were $4,970 million, a decrease from $5,245 million in Q4 2023[74]. - Life Insurance premiums for Q4 2024 were $366 million, down from $459 million in Q4 2023[74]. - Institutional Markets premiums for Q4 2024 were $723 million, significantly lower than $1,921 million in Q4 2023[74]. Expenses and Benefits - Policyholder benefits for Q4 2024 totaled $1,627 million, compared to $2,889 million in Q4 2023, indicating a significant reduction of approximately 43.6%[60]. - Total benefits and expenses for the twelve months ended December 31, 2024, were $16,007 million, compared to $18,087 million in 2023, indicating a decrease of about 11.5%[63]. - Corebridge's total benefits and expenses for Q4 2024 were $4,094 million, down from $5,125 million in Q4 2023, reflecting a decrease of about 20.1%[60]. - Policyholder benefits for the twelve months ended December 31, 2024, were $6,641 million, an increase from $9,368 million in 2023, reflecting a decrease of approximately 29.2%[63]. Capital and Liquidity - Holding company liquidity stood at $2.2 billion as of December 31, 2024, reflecting proceeds from debt issuances[15]. - The life fleet RBC ratio was reported at 420-430%, remaining above target[15]. - Total adjusted book value as of December 31, 2024, was $22,345 million, an increase from $21,434 million as of September 30, 2024[71]. - Corebridge's financial leverage ratio is defined as the ratio of financial debt to the sum of financial debt plus Adjusted Book Value plus non-redeemable noncontrolling interests, providing insight into the company's capital structure[53]. Strategic Initiatives - Corebridge Financial's strategy includes partnerships with financial professionals and institutions to enhance customer financial planning and security[29]. - The company emphasizes the importance of non-GAAP financial measures to provide a clearer understanding of its profitability and operational results[35]. - Premiums and deposits, a non-GAAP measure, reflect customer demand for products and sales performance over time[47]. - The company faces various risks, including changes in interest rates, economic conditions, and competition, which could impact future performance[33]. Conference and Reporting - The company will host a conference call on February 13, 2025, to review financial results, which will be accessible to the public[28].

Corebridge Financial Overview - Corebridge Financial, Inc. (CRBG) reported a 2.4% decline in shares following the release of third-quarter 2024 results, primarily due to elevated expenses, a decrease in Life Insurance premiums and deposits, and lower guaranteed investment contract deposits [1] - The Group Retirement segment experienced a drop in spread income, impacting profitability, although this was partially mitigated by strong fixed annuity deposits and improved investment income [1] Financial Performance - CRBG's operating earnings per share for Q3 2024 were $1.38, exceeding the Zacks Consensus Estimate by 18% and reflecting a 31% year-over-year increase [2] - Adjusted revenues rose 11.1% year over year to $4.5 billion, but fell short of the consensus estimate by 20.8% [2] Operational Highlights - Premiums and deposits totaled $9.6 billion, marking a 5% year-over-year growth, with a 20% increase when excluding transactional activity, driven by rising fixed annuity deposits [4] - Net investment income increased by 24% year over year to $3.3 billion, attributed to higher base portfolio income [4] - Total benefits and expenses rose 6.2% year over year to $3.5 billion, influenced by higher policyholder benefits and advisory fee expenses [5] Segment Performance - **Individual Retirement**: Premiums and deposits surged 40% year over year to $5.5 billion, with fee income increasing 11.1% to $321 million [8] - **Group Retirement**: Premiums and deposits grew 7% year over year to $2 billion, but spread income fell 15.8% to $176 million, leading to a 2% decline in adjusted pre-tax operating income to $188 million [10] - **Life Insurance**: Premiums and deposits decreased by 21.1% to $856 million, while adjusted pre-tax operating income rose 15% to $156 million, surpassing the consensus estimate [11] - **Institutional Markets**: Premiums and deposits plummeted 44% year over year to $1.3 billion, but adjusted pre-tax operating income more than doubled to $154 million, beating the consensus mark [12] - **Corporate and Other**: The segment reported an adjusted pre-tax operating loss of $124 million, an improvement from the previous year's loss of $166 million [13] Financial Position - As of September 30, 2024, Corebridge had a cash balance of $530 million, down 13.4% from the end of 2023, while total investments increased by 7.7% to $250.4 billion [14] - Total assets rose 5.3% to $399.4 billion, and total equity improved by 14.3% to $14.4 billion [15][17] - Long-term debt increased by 8.2% to $9.9 billion, and adjusted book value per share was $37.32, a decrease of 2.4% year over year [16][18] Shareholder Returns - In Q3 2024, Corebridge repurchased 25.9 million common shares for $715 million and paid out quarterly dividends totaling $133 million [19]

Group 1 - Corebridge Financial's shares increased by 9% on Wednesday, contributing to a total gain of over 60% in the past year [1] - The surge in stock price was driven by strong Q3 earnings results and a broader rally in financial stocks following Donald Trump's presidential election victory [1]

Corebridge Financial, Inc. (NYSE:CRBG) Q3 2024 Results Conference Call November 5, 2024 11:00 AM ET Company Participants Isil Muderrisoglu - Head of Investor and Rating Agency Relations Kevin Hogan - President and Chief Executive Officer Elias Habayeb - Chief Financial Officer Conference Call Participants Alex Scott - Barclays Wes Carmichael - Autonomous Research Suneet Kamath - Jefferies Ryan Kruger - KBW Tom Gallagher - Evercore Elyse Greenspan - Wells Fargo Wilma Burdis - Raymond James Josh Shanker - Ban ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41504 Corebridge Financial, Inc. (Exact name of registrant as specified in its charter) Delaware 95-4715639 (State or ...

Corebridge Financial (CRBG) reported $4.53 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 11.1%. EPS of $1.38 for the same period compares to $1.05 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $5.72 billion, representing a surprise of -20.75%. The company delivered an EPS surprise of +17.95%, with the consensus EPS estimate being $1.17.While investors closely watch year-over-year changes in headline numbers -- revenue and ear ...

Corebridge Financial (CRBG) came out with quarterly earnings of $1.38 per share, beating the Zacks Consensus Estimate of $1.17 per share. This compares to earnings of $1.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 17.95%. A quarter ago, it was expected that this financial services company would post earnings of $1.10 per share when it actually produced earnings of $1.13, delivering a surprise of 2.73%.Over the last four ...

FOR IMMEDIATE RELEASE Corebridge Financial Announces Third Quarter 2024 Results 1 1 1 • Net loss of $1.2 billion, or $2.02 per share, largely a result of realized losses primarily driven by the Fortitude Re funds withheld embedded derivative • Adjusted after-tax operating income of $810 million and operating EPS of $1.38 per share • Premiums and deposits of $9.6 billion • Aggregate core sources of income increased 4% over the prior year quarter with growth across base spread income, fee income and underwrit ...