Corebridge Financial, Inc. Just Missed Earnings - But Analysts Have Updated Their Models

Last week, you might have seen that Corebridge Financial, Inc. (NYSE:CRBG) released its quarterly result to the market. The early response was not positive, with shares down 8.1% to US$29.91 in the past week. Statutory earnings per share disappointed, coming in -74% short of expectations, at US$0.27. Fortunately revenue performance was a lot stronger at US$5.6b arriving 18% ahead of predictions. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.

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Taking into account the latest results, the most recent consensus for Corebridge Financial from seven analysts is for revenues of US$20.8b in 2026. If met, it would imply a meaningful 13% increase on its revenue over the past 12 months. Statutory earnings per share are predicted to bounce 179% to US$5.31. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$19.6b and earnings per share (EPS) of US$5.32 in 2026. There doesn't appear to have been a major change in sentiment following the results, other than the small increase to revenue estimates.

Check out our latest analysis for Corebridge Financial

It may not be a surprise to see thatthe analysts have reconfirmed their price target of US$39.77, implying that the uplift in revenue is not expected to greatly contribute to Corebridge Financial's valuation in the near term. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on Corebridge Financial, with the most bullish analyst valuing it at US$43.00 and the most bearish at US$35.00 per share. With such a narrow range of valuations, the analysts apparently share similar views on what they think the business is worth.

Of course, another way to look at these forecasts is to place them into context against the industry itself. One thing stands out from these estimates, which is that Corebridge Financial is forecast to grow faster in the future than it has in the past, with revenues expected to display 11% annualised growth until the end of 2026. If achieved, this would be a much better result than the 5.2% annual decline over the past five years. Compare this against analyst estimates for the broader industry, which suggest that (in aggregate) industry revenues are expected to grow 6.3% annually. Not only are Corebridge Financial's revenues expected to improve, it seems that the analysts are also expecting it to grow faster than the wider industry.

The Bottom Line

The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Happily, they also upgraded their revenue estimates, and are forecasting them to grow faster than the wider industry. The consensus price target held steady at US$39.77, with the latest estimates not enough to have an impact on their price targets.

Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have forecasts for Corebridge Financial going out to 2027, and you can see them free on our platform here.

It is also worth noting that we have found 1 warning sign for Corebridge Financial that you need to take into consideration.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.