Brighthouse Financial, Inc. · NASDAQ:BHF
Brighthouse Financial — Q1 2019 Earnings Presentation
11 slides from Brighthouse Financial's earnings presentation, 2019
Slide 1: First Quarter 2019 Earnings Call Presentation
Brighthouse Financial, Inc. First Quarter 2019 Earnings Call Presentation
Slide 2: Note regarding forward-looking statements
Note regarding forward-looking statements This presentation and other oral or written statements that we make from time to time may contain information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-l
Slide 3: Executive summary
Executive summary • Annuity sales up 36% compared to 1Q 2018 Executing on our • Launched a new hybrid life insurance product in February 2019 strategy • Completed ~90% of our investment portfolio repositioning through 1Q 2019 • 1Q 2019 adjusted earnings per share (EPS), less notable items(2)(3) of $
Slide 4: Net income (loss) available to shareholders; adjusted earnings; adjusted earnings less notable items
Net income (loss) available to shareholders; adjusted earnings; adjusted earnings less notable items For the Three Months Ended March 31, 2019 December 31, 2018 March 31, 2018 ($ in millions, except per share Total Per share (1) Total Per share (1) Total Per share (1) amounts) Net income (loss) avai
Slide 5: Appendix
Appendix
Slide 6: Non-GAAP and Other Financial Disclosures
Non-GAAP and Other Financial Disclosures Our definitions of the non-GAAP and other financial measures may differ from those used by other companies. Non-GAAP Financial Disclosures We present certain measures of our performance that are not calculated in accordance with GAAP. We believe that these no
Slide 7: Non-GAAP and Other Financial Disclosures (Cont.)
Non-GAAP and Other Financial Disclosures (Cont.) Adjusted earnings reflects adjusted revenues less adjusted expenses, both net of income tax, and excludes net income (loss) attributable to noncontrolling interests. Provided below are the adjustments to GAAP revenues and GAAP expenses used to calcula
Slide 8: Non-GAAP and Other Financial Disclosures (Cont.)
Non-GAAP and Other Financial Disclosures (Cont.) Other Financial Disclosures Corporate Expenses Corporate expenses includes functional department expenses, public company expenses, certain investment expenses, retirement funding and incentive compensation; and excludes establishment costs. Notable i
Slide 9: Non-GAAP and Other Financial Disclosures (Cont.)
Non-GAAP and Other Financial Disclosures (Cont.) Other Financial Disclosures (cont.) Sales Statistical sales information for life sales is calculated using the LIMRA definition of sales for core direct sales, excluding company-sponsored internal exchanges, corporate-owned life insurance, bank-owned
Slide 10: Adjusted earnings by segment and Corporate & Other, less notable items
Adjusted earnings by segment and Corporate & Other, less notable items For the Three Months Ended ($ in millions, post-tax) March 31, 2019 December 31, 2018 March 31, 2018 Annuities $295 $175 $226 Life $25 $64 $66 Run-off ($36) $18 $50 Corporate & Other ($52) ($71) ($59) (1) Adjusted earnings $232 $
Slide 11: Reconciliation of net income (loss) to adjusted earnings and per share
Reconciliation of net income (loss) to adjusted earnings and net income (loss) per share to adjusted earnings per share For the Three Months Ended ($ in millions, except per share) March 31, 2019 December 31, 2018 March 31, 2018 Net income (loss) available to shareholders ($737) $1,442 ($67) Less: N
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