Equitable Holdings, Inc. [EQH-PC] has reported a net loss of $1.6 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $10.5 billion
Based in NEW YORK, New York, Equitable Holdings, Inc. operates in the FINANCE sector.
In the Consolidated Statements of Income (Loss) for the fiscal year ending December 31, 2023, total revenues amounted to $10.528 billion, reflecting a significant decrease from the previous year's revenue of $12.644 billion in 2022, and a substantial increase from $7.614 billion in 2021.
The cost of benefits and other deductions for the same period totaled $9.79 billion, showing a slight increase compared to the previous year's figure of $9.652 billion in 2022 and a significant rise from $5.005 billion in 2021.
Net income (loss) for the current reporting period was $1.643 billion, lower than the previous year's net income of $2.394 billion in 2022 but higher than the net income of $2.17 billion reported in 2021.
Earnings per share for the current fiscal year were $3.49 for basic and $3.48 for diluted amounts. In comparison, the previous year recorded earnings per share of $5.49 for basic and $5.46 for diluted amounts in 2022, and $4.02 for basic and $3.98 for diluted amounts in 2021.
The weighted average common shares outstanding for the current year were 350.1 million for basic and 351.6 million for diluted amounts. These figures decreased from 377.6 million for basic and 379.9 million for diluted amounts in 2022, and 417.4 million for basic and 421.2 million for diluted amounts in 2021.