Brighthouse

Q2 FY2026 EarningsFY26 Q2 results presented a significant divergence between GAAP and adjusted figures. Diluted GAAP EPS of $16.53 massively beat the $3.91 consensus due to $1.37B in non-cash market risk benefits and derivative gains from favorable equity market movements. However, core performance was a slight miss, with adjusted net income of $258M falling 2.09% below the $263.5M consensus, and adjusted EPS of $4.46 missing by 6.46%. Common BPS of $83.41 exceeded the $79.61 estimate by 4.78%, while total revenue of $1,622M missed expectations by 25.77% due to higher-than-anticipated derivative volatility.