Brighthouse Financial reports Q2 adjusted EPS $1.27, consensus $1.96
Reports Q2 revenue $1.7B, consensus $2.05B. Adjusted earnings for the quarter included $44M of a net unfavorable notable item, or 37c on a per share basis, for establishment costs primarily related to planned technology and branding investments. Reports book value $112.17 and book value, excluding AOCI, of $105.37. The company said, "We are pleased with our quarter-over-quarter sales growth in annuities and with our strong operational performance during the second quarter. While we recorded lower sequential adjusted earnings this period, we expect to reach our guidance targets for 2018. As we enter our second year as an independent, publicly-traded company, we are on track with our goals, we are confident in our strategy, and we remain focused on delivering value for advisors, the clients they serve, and our shareholders."