Key Highlights

  • Second-quarter non-GAAP operating Earnings were about $488 million, or about $1.70 per share, up about 24%.
  • Total Assets under management and administration reached a record about $1.2 trillion, up about 10%.
  • Shareholders approved the Acquisition of Corebridge Financial on July 30, expected to close by year-end 2026.
  • The company returned about $449 million to shareholders during the quarter.

Equitable Holdings (NYSE:EQH) fell 1.54% to $49.36 at last closing. The retirement, asset-management and wealth-management company grew its operating earnings and reached record assets under management in the second quarter, while advancing a transformational acquisition of Corebridge Financial. For investors, the question is whether the next move could be bigger given the scale the Corebridge acquisition would add.

Equitable Holdings operates a retirement business, an asset-management Business through its majority stake in AllianceBernstein, and a wealth-management business. Its results depend on its operating earnings and its assets under management.

Latest Developments

In its second-quarter 2026 results, Equitable Holdings reported non-GAAP operating earnings of about $488 million, about $1.70 per share, up about 24%, even as it posted a GAAP net loss of about $453 million driven by market and accounting items. Its total assets under management and administration reached a record of about $1.2 trillion, up about 10%. Shareholders approved the acquisition of Corebridge Financial on July 30, expected to close by year-end 2026. The company returned about $449 million to shareholders.

Financial and Business Position

Equitable Holdings' operating-earnings growth, record assets under management and net inflows reflect the strength of its retirement, asset-management and wealth-management franchises, and its pending Corebridge acquisition would significantly increase its scale. The considerations for investors are the sensitivity of its earnings to markets and interest rates and the integration risk of the acquisition.

Stock-Market Context

Equitable Holdings (NYSE:EQH) fell 1.54% at last closing, a decline that sits alongside record assets under management and a transformational pending acquisition. The improvement case rests on continued operating-earnings growth and the successful completion of the Corebridge acquisition; the cautionary case is the sensitivity to markets and rates and integration risk.

What Investors Should Watch

Investors may focus on operating earnings across its segments, assets under management and net inflows, and the progress and accretion of the Corebridge acquisition. Evidence that operating earnings keep growing while the acquisition closes and delivers its projected accretion would do the most to support the shares.