Revenue: As of FY2026 Q1, the actual value is USD 1.527 B.

EPS: As of FY2026 Q1, the actual value is USD -13.82.

EBIT: As of FY2026 Q1, the actual value is USD -2.216 B.

Financial Performance by Segment

Three Months Ended March 31, 2026

• Annuities Segment
  • Total revenues: $799 million
  • Adjusted earnings (loss): $324 million
  • Interest revenue: $771 million
  • Total assets: $163,357 million
• Life Segment
  • Total revenues: $241 million
  • Adjusted earnings (loss): - $6 million
  • Interest revenue: $98 million
  • Total assets: $27,146 million
• Run-off Segment
  • Total revenues: $354 million
  • Adjusted earnings (loss): - $48 million
  • Interest revenue: $268 million
  • Total assets: $24,711 million
• Corporate & Other Segment
  • Total revenues: $133 million
  • Adjusted earnings (loss): - $31 million
  • Interest revenue: $131 million
  • Total assets: $21,589 million
• Consolidated Total
  • Total revenues: $1,527 million
  • Adjusted earnings (loss): $239 million

Three Months Ended March 31, 2025

• Annuities Segment
  • Total revenues: $1,590 million
  • Adjusted earnings (loss): $314 million
  • Interest revenue: $753 million
  • Total assets: $166,867 million (as of December 31, 2025)
• Life Segment
  • Total revenues: $281 million
  • Adjusted earnings (loss): $9 million
  • Interest revenue: $107 million
  • Total assets: $27,494 million (as of December 31, 2025)
• Run-off Segment
  • Total revenues: $368 million
  • Adjusted earnings (loss): - $64 million
  • Interest revenue: $272 million
  • Total assets: $25,455 million (as of December 31, 2025)
• Corporate & Other Segment
  • Total revenues: $151 million
  • Adjusted earnings (loss): - $24 million
  • Interest revenue: $159 million
  • Total assets: $21,984 million (as of December 31, 2025)
• Consolidated Total
  • Total revenues: $2,390 million
  • Adjusted earnings (loss): $235 million

Consolidated Operational Metrics

Net Income (Loss) Attributable to Brighthouse Financial, Inc.

• Three Months Ended March 31, 2026: - $766 million
• Three Months Ended March 31, 2025: - $268 million

Comprehensive Income (Loss) Attributable to Brighthouse Financial, Inc.

• Three Months Ended March 31, 2026: - $1,193 million
• Three Months Ended March 31, 2025: $340 million

Key Expenses

• Policyholder Benefits and Claims: $637 million (2026) vs. $649 million (2025)
• Interest Credited to Policyholder Account Balances: $493 million (2026) vs. $561 million (2025)
• Amortization of Deferred Policy Acquisition Costs and Value of Business Acquired: $158 million (2026) vs. $148 million (2025)
• Change in Market Risk Benefits: $748 million (2026) vs. $893 million (2025)
• Other Expenses: $477 million (2026) vs. $493 million (2025)

Cash Flow

Net Cash Provided by (Used in) Operating Activities

• Three Months Ended March 31, 2026: - $221 million
• Three Months Ended March 31, 2025: $146 million

Net Cash Provided by (Used in) Investing Activities

• Three Months Ended March 31, 2026: - $485 million
• Three Months Ended March 31, 2025: $563 million

Net Cash Provided by (Used in) Financing Activities

• Three Months Ended March 31, 2026: $226 million
• Three Months Ended March 31, 2025: - $1,087 million

Cash, Cash Equivalents and Restricted Cash (End of Period)

• March 31, 2026: $4,907 million
• March 31, 2025: $4,667 million

Balance Sheet Highlights

Total Investments

• March 31, 2026: $121,456 million
• December 31, 2025: $120,629 million

Fixed Maturity Securities Available-For-Sale

• March 31, 2026: Amortized cost: $87,206 million; Estimated fair value: $81,232 million; Allowance for credit losses: $65 million
• December 31, 2025: Amortized cost: $87,046 million; Estimated fair value: $82,014 million; Allowance for credit losses: $64 million

Mortgage Loans (Net of Allowance for Credit Losses)

• March 31, 2026: $22,620 million
• December 31, 2025: $22,755 million

Total Assets

• March 31, 2026: $236,803 million
• December 31, 2025: $241,800 million

Total Liabilities

• March 31, 2026: $231,175 million
• December 31, 2025: $234,967 million

Total Equity

• March 31, 2026: $5,628 million
• December 31, 2025: $6,833 million

Policyholder Account Balances

• March 31, 2026: $86,379 million
• December 31, 2025: $87,952 million

Market Risk Benefit Liabilities

• March 31, 2026: $8,564 million
• December 31, 2025: $8,063 million

Derivatives

• March 31, 2026: Gross notional amount: $350,970 million; Estimated fair value assets: $8,448 million; Estimated fair value liabilities: $7,863 million
• December 31, 2025: Gross notional amount: $304,733 million; Estimated fair value assets: $6,779 million; Estimated fair value liabilities: $5,234 million

Future Outlook and Strategy

Brighthouse Financial, Inc. has entered into a Merger Agreement where it will become a wholly-owned subsidiary of Aquarian Parent, with common shareholders receiving $70.00 per share in cash . The company is also evaluating the impact of new FASB accounting guidance (ASU 2025-08 and ASU 2024-03) effective in fiscal years 2027 and ²⁰²⁷⁄₂₀₂₈, respectively, which will require prospective adoption for acquired loans and additional disaggregated expense information .