Equitable Holdings Reports Q2 2026 Net Loss of $453 Million, Merger with Corebridge Financial Approved

Equitable Holdings, Inc. reported its financial results for the second quarter and first half of 2026, revealing a net loss attributable to Holdings of $453 million for the three months ended June 30, 2026, compared to a loss of $349 million in the same period of 2025. For the first half of 2026, the company recorded a net income of $168 million, a significant recovery from a loss of $286 million in the prior year. Total revenues for the second quarter were $1.658 billion, down from $2.362 billion year-over-year, while revenues for the first half decreased to $5.888 billion from $6.938 billion in 2025. The decline in revenue was primarily attributed to increased net derivative losses and a decrease in policy charges and fee income.

The company’s total assets increased to $334.657 billion as of June 30, 2026, up from $317.990 billion at the end of 2025. This growth was driven by a rise in cash and cash equivalents, which reached $17.183 billion, compared to $12.462 billion at the end of the previous year. The policyholders' account balances also saw a notable increase, rising to $146.445 billion from $133.433 billion. The company’s equity attributable to Holdings decreased to a negative $785 million, down from a negative $74 million at the end of 2025, largely due to increased treasury stock and accumulated other comprehensive losses.

Equitable Holdings is actively pursuing strategic growth through its merger with Corebridge Financial, which was approved by stockholders on July 30, 2026. The merger is expected to close by the end of 2026, pending regulatory approvals. Additionally, the company has been focusing on enhancing its product offerings and expanding its market presence, particularly in the retirement and asset management sectors. The company reported a total of $905.5 billion in assets under management (AUM) as of June 30, 2026, reflecting a significant increase from $829.1 billion a year earlier, driven by market appreciation and net inflows.

Operationally, Equitable Holdings has seen fluctuations in its customer engagement metrics, with total policyholder benefits decreasing significantly due to the reinsurance transaction with RGA. The company’s employee headcount remained stable, and it continues to manage its operational costs effectively. The company’s outlook remains cautious, with management noting the potential for increased market volatility and its impact on future earnings. The company is committed to maintaining its financial strength and capital position while navigating the evolving economic landscape.