AXA Equitable Holdings, Inc. (NYSE: EQH) reported Q2 EPS of $0.90, $0.04 better than the analyst estimate of $0.86. Revenue for the quarter came in at $2.96 billion versus the consensus estimate of $3.1 billion.

• Second quarter Net Income of $158 million; Net Income per diluted share of $0.28
• Non-GAAP Operating Earnings1 of $506 million; Non-GAAP Operating Earnings per diluted share of $0.90
• Declared inaugural quarterly dividend of $0.13 per share
• Authorized share repurchase of $500 million

“AXA Equitable Holdings delivered strong second quarter results, with operating earnings growth across all our business segments,” said Mark Pearson, President and CEO of AXA Equitable Holdings. “During the quarter, we also completed our initial public offering, a landmark achievement for our company. I am pleased with the progress we continue to make towards our strategic priorities to grow, optimize and streamline our business in order to deliver more compelling accumulation and protection solutions for our clients and enhance value for shareholders.”

Mr. Pearson continued, “Our Board of Directors has declared a $0.13 per common share quarterly dividend and authorized a $500 million share repurchase program. These actions demonstrate the Board’s confidence in our financial position and reflect our commitment to returning capital to shareholders through a prudent and flexible approach.”

Capital Management

AXA Equitable Holdings launched a capital management program, in-line with the Company’s long-term target of returning 40-60% of Non-GAAP Operating Earnings to shareholders on an annualized basis starting in 2018.

• The Board of Directors of AXA Equitable Holdings has declared a quarterly cash dividend of $0.13 per share. The dividend will be payable on August 30, 2018 to shareholders of record as of the close of business on August 23, 2018.
• The Board of Directors also authorized a $500 million share repurchase program. Under this authorization, the Company may, from time to time through March 31, 2019, purchase shares of its common stock through various means4.
• The program will be funded through a combination of an approved insurance subsidiary dividend and non-regulated cash flows from AB. The aforementioned dividend and cash flows were upstreamed to AXA Equitable Holdings during July.

For earnings history and earnings-related data on AXA Equitable Holdings, Inc. (EQH) click here.