Axa Equitable Holdings, Inc. (EQH) 10-K Annual Report March 2019

Full year Net income of $1.8 billion; Net income per diluted share of $3.27. Non-GAAP Operating Earnings¹of $2.2 billion; Non-GAAP Operating Earnings per diluted share of $3.89

Fourth quarter Net income of $1.9 billion; Net income per diluted share of $3.57. Non-GAAP Operating Earningsof $504 million; Non-GAAP Operating Earnings per diluted share of $0.93

Returned over $1 billion to shareholders since IPO

Announced new $800 million share repurchase authorization; intend to increase dividend 15% to $0.15 per share payable in the second quarter of 2019²

Revised target payout range upward from 40-60% to 50-60% of Non-GAAP Operating Earnings

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New York, NY, February 28, 2019 -

AXA Equitable Holdings, Inc. (“AXA Equitable Holdings”, or the “Company”) (NYSE: EQH) today announced financial results for the full year and fourth quarter ended December 31, 2018.

“AXA Equitable Holdings’ solid 2018 financial results reflect a strong debut year, in which we completed our initial public offering, effectively executed against our long-term strategic priorities, and created value for our clients, partners and shareholders,” said Mark Pearson, President and Chief Executive Officer. “The value we provide our more than five million clients is clearly resonating, as evidenced by sustained momentum and sales across all segments, with strong operating earnings in our Individual Retirement and Group Retirement businesses, continued margin improvement in Investment Management and Research, and ongoing stabilization of our Protection Solutions segment. For the full-year, we generated approximately $2.2 billion in Non-GAAP Operating Earnings, reflecting continued execution against our focused strategy. Additionally, our balance sheet remained robust amidst recent market volatility, with solid capitalization at CTE98 for our VA business, bolstered by the effectiveness of our hedging program.”

Mr. Pearson continued, “In less than a year as a publicly traded company, AXA Equitable Holdings has returned more than $1 billion to our shareholders in the form of quarterly dividends and share repurchases. Continuing this capital return approach, our Board of Directors has authorized a new share repurchase program of $800 million, and we intend to increase the dividend per share by 15% in the second quarter. The upward revision of our annual target payout range from 40-60% to 50-60% reflects the strength of our results, continued momentum from our differentiated businesses, and our unique positioning to deliver value across market cycles. We are confident we can achieve our long-term strategic priorities while empowering growing numbers of customers to achieve their goals for financial security and protection.”



Consolidated Results
	Fourth Quarter				Full Year
(in millions, except per share amounts or unless otherwise noted)	2018		2017		2018		2017
Total Assets Under Management (“AUM”, in billions)	$	619	$	672	$	619	$	672
Net income (loss) attributable to Holdings	1,938		483		1,820		834
Net income (loss) attributable to Holdings per diluted share	3.57		0.86		3.27		1.48
Non-GAAP Operating Earnings (loss)	504		921		2,166		2,035
Non-GAAP Operating Earnings (loss) per diluted share (“EPS”)	0.93		1.64		3.89		3.63

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¹ This press release includes certain non-GAAP financial measures. More information on these measures and reconciliations to the most comparable U.S. GAAP measures can be found in the “Use of Non-GAAP Financial Measures” section of this release.

² Any declaration of dividends will be at the discretion of the Board of Directors and will depend on our financial condition and other factors.

The following information was filed by Axa Equitable Holdings, Inc. (EQH) on Thursday, February 28, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Axa Equitable Holdings, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.61: Material Contract

Exhibit 10.62: Material Contract

Exhibit 10.69: Material Contract

Exhibit 10.70: Material Contract

Exhibit 10.71: Material Contract

Exhibit 10.72: Material Contract

Exhibit 10.7.3: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: EQH
CIK: 1333986
Form Type: 10-K Annual Report
Accession Number: 0001333986-19-000010
Submitted to the SEC: Fri Mar 08 2019 2:16:54 PM EST
Accepted by the SEC: Fri Mar 08 2019
Period: Monday, December 31, 2018
Industry: Insurance Agents Brokers And Service

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Axa Equitable Holdings, Inc. (EQH) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

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