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Corebridge (CRBG) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Corebridge Financial (CRBG - Free Report) reported $4.53 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 11.1%. EPS of $1.38 for the same period compares to $1.05 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.72 billion, representing a surprise of -20.75%. The company delivered an EPS surprise of +17.95%, with the consensus EPS estimate being $1.17.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Corebridge performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Premiums: $618 million versus $2.06 billion estimated by five analysts on average.
Total Corebridge- Advisory fee and other income: $300 million compared to the $212.19 million average estimate based on five analysts.
Policy fees: $728 million versus the five-analyst average estimate of $714.35 million.
Total Corebridge- Net investment income: $2.83 billion versus the five-analyst average estimate of $2.75 billion.
Revenue- Life Insurance: $1.13 billion versus the three-analyst average estimate of $1.09 billion.
Revenue- Individual Retirement: $1.82 billion compared to the $1.77 billion average estimate based on three analysts.
Revenue- Individual Retirement-Premiums: $36 million versus $36.25 million estimated by three analysts on average.
Revenue- Individual Retirement-Policy fees: $205 million versus $189.55 million estimated by three analysts on average.
Revenue- Individual Retirement-Net investment income: $1.46 billion versus $1.43 billion estimated by three analysts on average.
Revenue- Individual Retirement-Advisory fee and other income: $116 million compared to the $114 million average estimate based on three analysts.
Revenue- Group Retirement - Premiums: $5 million versus $5.95 million estimated by three analysts on average.
Revenue- Group Retirement - Policy fees: $113 million versus the three-analyst average estimate of $107.67 million.
Shares of Corebridge have returned +5.5% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Corebridge (CRBG) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Corebridge Financial (CRBG - Free Report) reported $4.53 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 11.1%. EPS of $1.38 for the same period compares to $1.05 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.72 billion, representing a surprise of -20.75%. The company delivered an EPS surprise of +17.95%, with the consensus EPS estimate being $1.17.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Corebridge performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Premiums: $618 million versus $2.06 billion estimated by five analysts on average.
- Total Corebridge- Advisory fee and other income: $300 million compared to the $212.19 million average estimate based on five analysts.
- Policy fees: $728 million versus the five-analyst average estimate of $714.35 million.
- Total Corebridge- Net investment income: $2.83 billion versus the five-analyst average estimate of $2.75 billion.
- Revenue- Life Insurance: $1.13 billion versus the three-analyst average estimate of $1.09 billion.
- Revenue- Individual Retirement: $1.82 billion compared to the $1.77 billion average estimate based on three analysts.
- Revenue- Individual Retirement-Premiums: $36 million versus $36.25 million estimated by three analysts on average.
- Revenue- Individual Retirement-Policy fees: $205 million versus $189.55 million estimated by three analysts on average.
- Revenue- Individual Retirement-Net investment income: $1.46 billion versus $1.43 billion estimated by three analysts on average.
- Revenue- Individual Retirement-Advisory fee and other income: $116 million compared to the $114 million average estimate based on three analysts.
- Revenue- Group Retirement - Premiums: $5 million versus $5.95 million estimated by three analysts on average.
- Revenue- Group Retirement - Policy fees: $113 million versus the three-analyst average estimate of $107.67 million.
View all Key Company Metrics for Corebridge here>>>Shares of Corebridge have returned +5.5% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.