Brighthouse Financial (BHF) FY2019 results: revenue $6.6 billion, down 26.9% on the year
Brighthouse Financial, Inc. (BHF) reported revenue of $6.6 billion for fiscal 2019, the year ended 31 December 2019, down 26.9% on the year before. Net income was -$740 million, and diluted earnings per share $-6.76. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$6.6 billion
-26.9% on the year
FY2015FY2019
Operating margin
-16.1%
11.0% a year earlier
FY2015FY2019
Net income
-$740 million
FY2015FY2019
Diluted EPS
-$6.76
FY2015FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
6,554
8,965
6,842
-26.9%
Operating income
-1,052
989
-615
Operating margin
-16.1%
11.0%
-9.0%
Interest expense
191
158
135
+20.9%
Pre-tax income
-1,052
989
-615
Income tax
-317
119
-237
Effective tax rate
n/a
12.0%
n/a
Net income
-740
865
-378
Net margin
-11.3%
9.6%
-5.5%
Diluted EPS
-$6.76
$7.21
-$3.16
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,828
3,062
3,396
-40.3%
Cash from investing
-7,341
-4,538
-3,915
Cash from financing
4,245
3,764
-2,852
+12.8%
Share-based compensation
21.0
n/a
n/a
Buybacks
442
105
0.0
+321.0%
Dividends paid
n/a
n/a
0.0
Diluted shares, weighted
113m
120m
120m
-6.1%
Shares outstanding at period end
106m
118m
120m
-9.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
16,172
14,418
14,515
+12.2%
Non-controlling interest
65.0
65.0
65.0
0.0%
Debt
4,365
3,963
3,612
+10.1%
Other liabilities
206,657
187,848
206,000
+10.0%
Total liabilities and equity
227,259
206,294
224,192
+10.2%
Intangible assets
78.0
91.0
105
-14.3%
Investments
1,958
0.0
312
Loans
n/a
n/a
10,627
Cash and equivalents
2,877
4,145
1,857
-30.6%
Other assets
222,346
202,058
211,291
+10.0%
Total assets
227,259
206,294
224,192
+10.2%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.