Corebridge Financial Reports Strong Q4 Beat

Corebridge Financial, Inc. (NYSE:CRBG) reported its Q4 results on Friday, with EPS of $0.88 coming in better than the Street estimate of $0.69. Revenue was $8.69 billion, beating the Street estimate of $5.26 billion.

Rising new money yields are benefitting the company’s spread-based businesses and it is expected that positive impacts to become increasingly evident in 2023. The cost savings program is coming together and we should see benefits beginning in 2023.

The company could initiate its share buyback program beginning in Q2/23 (a dividend was already instated last year).