Equitable Holdings, Inc. (NYSE:EQH) Q2 2022 Earnings Conference Call August 4, 2022 8:00 AM ET

Company Participants

Isil Muderrisoglu - Head, Investor Relations

Mark Pearson - President and Chief Executive Officer

Robin Raju - Chief Financial Officer

Nick Lane - President, Equitable Financial

Kate Burke - Chief Operating Officer and Chief Financial Officer, AllianceBernstein

Conference Call Participants

Tom Gallagher - Evercore ISI

Ryan Krueger - KBW

Alex Scott - Goldman Sachs

Elyse Greenspan - Wells Fargo

Jimmy Bhullar - JPMorgan

Andrew Kligerman - Credit Suisse

Suneet Kamath - Jefferies

Tracy Benguigui - Barclays

Mark Hughes - Truist Securities

Operator

Good morning. My name is Rob and I will be your conference operator today. At this time, I would like to welcome everyone to the Equitable Holdings, Inc. Second Quarter 2022 Results Conference Call. [Operator Instructions] Isil Muderrisoglu, Head of Investor Relations. You may begin your conference.

Isil Muderrisoglu

Thank you. Good morning and welcome to Equitable Holdings second quarter 2022 earnings call. Materials for today’s call can be found on our website at ir.equitableholdings.com.

Before we begin, I would like to note that some of the information we present today is forward-looking and subject to certain SEC rules and regulations regarding disclosure. Our results may materially differ from those expressed in or indicated by such forward-looking statements. So I’d like to refer you to the Safe Harbor language on Slide 2 of our presentation for additional information.

Joining me on today’s call is Mark Pearson, President and Chief Executive Officer of Equitable Holdings; Robin Raju, our Chief Financial Officer; Nick Lane, our President of Equitable Financial; and Kate Burke AllianceBernstein’s Chief Operating Officer and Chief Financial Officer.

During this call, we will be discussing certain financial measures that are not based on generally accepted accounting principles, also known as non-GAAP measures. Reconciliation of these non-GAAP measures to the most directly comparable GAAP measures and related definitions may be found on the Investor Relations portion of our website, in our earnings release, slide presentation and financial supplement.

I would now like to turn the call over to Mark and Robin for their prepared remarks.

Mark Pearson

Good morning. Thank you for joining. With a sharp decline in asset prices this year, we thought it is important today to highlight how our economic framework protects our balance sheet and ensures consistent cash returns to shareholders. Our operating subsidiaries Equitable and AB are not immune to these falling asset values, but are showing their resilience. We see strong demand across all Equitable lines and record sales in our Individual Retirement segment. AB reported a 2% fee rate improvement with growth in municipals, active equity and alternatives, offsetting outflows from fixed income.