Insurance and annuity provider Brighthouse Financial (NASDAQ:BHF) will be reporting earnings this Thursday after the bell. Here’s what investors should know.
Brighthouse Financial missed analysts’ revenue expectations by 5.3% last quarter, reporting revenues of $2.16 billion, up 5.2% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ net premiums earned estimates and a significant miss of analysts’ book value per share estimates.
Is Brighthouse Financial a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Brighthouse Financial’s revenue to decline 1.6% year on year to $2.18 billion, a reversal from the 2.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.39 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Brighthouse Financial has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Brighthouse Financial’s peers in the life insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Corebridge Financial delivered year-on-year revenue growth of 5.8%, beating analysts’ expectations by 7.3%, and Lincoln Financial Group reported revenues up 4.4%, topping estimates by 1.1%. Corebridge Financial traded down 1.3% following the results while Lincoln Financial Group was up 7.8%.
Read our full analysis of Corebridge Financial’s results here and Lincoln Financial Group’s results here.
Investors in the life insurance segment have had fairly steady hands going into earnings, with share prices down 2% on average over the last month. Brighthouse Financial is down 3.1% during the same time and is heading into earnings with an average analyst price target of $59.44 (compared to the current share price of $49.12).
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