Equitable Holdings, Inc.: Initiation of Coverage – How Are They Capitalizing On The Rise in Retirement Solutions Demand?

Equitable Holdings reported robust financial results for the first quarter of 2024, demonstrating a notable year[1]over-year increase in earning metrics and a continued commitment to capital management. The company showcased strong performance across its three core businesses: retirement, asset management (AllianceBernstein), and wealth management, which all experienced growth due to a supportive market environment and favorable demographic trends. In the reported quarter, Equitable Holdings announced non-GAAP operating earnings of $490 million, or $1.43 per share, a significant increase from the prior year, attributed to strong organic growth and operational efficiency. The results were also buoyed by favorable market conditions, including a beneficial interest rate environment that contributed positively to retirement sales and investment income.