BHF - Brighthouse stock jumps 11% as higher net investment income drives Q4 earnings beat

• Brighthouse Financial ( NASDAQ: BHF ) stock jumped 10.7% after the bell on Thursday as the life insurer's Q4 results topped Street estimates , helped by higher net investment income.
• Q4 adj. EPS, less notable items, was $3.51 vs. $5.18 in Q4 2021. Revenue fell 13.9% Y/Y to $2.05B.
• Net investment income was $1.05B, more than double sequentially helped by higher alternative investment income and asset growth, but down 12.7% Y/Y.
• Sales from Annuities segment totaled $3.21B, down 13.7% from Q3, but 36.1% higher Y/Y.
• Sales from Life segment stood at $22M, up 15.8% from Q3, but 37.1% lower Y/Y.
• Statutory combined total adj. capital increased sequentially to ~$8.1B as of December 31, helped by strong variable annuity results related to positive market performance. Estimated combined risk-based capital ratio was ~440%.
• Brighthouse ( BHF ) ended Q4 with book value of $55.11 per share, and book value, excluding AOCI, of $142.04 per share.
• Earlier, Raymond James initiated Brighthouse ( BHF ) at Market Perform based on P/CF valuation .

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