Equitable Holdings, Inc. (EQH) Misses Q3 Earnings and Revenue Estimates

Equitable Holdings (EQH) reported Q3 earnings of $1.48 per share, missing the Zacks Consensus Estimate of $1.59 by 6.92%, and revenues of $3.74 billion, falling short of estimates by 6.01%. The company has consistently missed revenue estimates over the past four quarters and only surpassed EPS estimates once during that period. Year-to-date, EQH shares have gained 3.4%, significantly underperforming the S&P 500's 16.5% rise, and currently hold a Zacks Rank #3 (Hold), suggesting future performance in line with the market.

Analysis

Equitable Holdings (EQH) reported a significant miss for Q3 2025, with adjusted earnings of $1.48 per share falling short of the Zacks Consensus Estimate of $1.59 by 6.92%. Revenues also missed expectations, coming in at $3.74 billion against a consensus miss of 6.01%, and were down from $3.78 billion year-over-year. This marks a concerning trend, as the company has failed to beat consensus revenue estimates over the last four quarters and surpassed EPS estimates only once during that period.

The stock's year-to-date performance reflects this underperformance, with EQH shares gaining only 3.4% compared to the S&P 500's 16.5% rise. Despite the broader "Insurance - Multi line" industry ranking in the top 36% of Zacks industries, EQH currently holds a Zacks Rank #3 (Hold), suggesting an expectation of in-line market performance in the near future. The sustainability of immediate price movements will heavily depend on management's commentary during the upcoming earnings call, particularly regarding future earnings expectations.

Current consensus estimates project Q4 EPS at $1.77 on $3.79 billion in revenues, with full-year EPS of $5.78 on $14.88 billion in revenues. While the industry outlook is favorable, the mixed trend in estimate revisions ahead of this report, coupled with consistent misses, indicates potential challenges in meeting these forward-looking targets. Investors should closely monitor any revisions to these estimates and management's strategic insights.

Key Decisions for Investors

• Investors should closely scrutinize management's commentary during the earnings call for insights into future guidance and strategies to address consistent revenue and earnings misses.
• Given the stock's significant underperformance against the S&P 500 year-to-date and its Zacks Rank #3 (Hold), a cautious approach may be warranted, focusing on potential catalysts or further estimate revisions.
• While the "Insurance - Multi line" industry shows strength, investors should assess if EQH's specific operational challenges outweigh the positive industry tailwinds.