Corebridge Financial (CRBG) Q1 FY2026 earnings: revenue $4.0 billion, up 11.0% on the year

Corebridge Financial, Inc. (CRBG) reported revenue of $4.0 billion for Q1 FY2026, the quarter ended 31 March 2026, up 11.0% on the same quarter a year earlier. Net income was -$53 million, and diluted earnings per share $-0.11. The figures are the company's own, from the 10-Q it filed with the SEC on 6 May 2026.

Revenue$4.0 billionup 11.0%

Net income-$53 million

Diluted EPS$-0.11

QuarterQ1 FY2026ended 31 March 2026

The quarter, against the one before and a year earlier

Line	Q1 FY2026	Q4 FY2025	Q1 FY2025	Change on the year
Revenue	3,964	6,731	3,572	+11.0%
Selling, general and administrative	468	n/a	526	-11.0%
Operating income	97.0	971	-862	n/a
Operating margin	2.4%	14.4%	-24.1%
Interest expense	131	132	148	-11.5%
Pre-tax income	97.0	971	-862	n/a
Income tax	158	173	-205	n/a
Effective tax rate	162.9%	17.8%	n/a
Net income	-53.0	814	-664	n/a
Net margin	-1.3%	12.1%	-18.6%
Diluted EPS	-$0.11	$1.59	-$1.19	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free 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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Line	Q1 FY2026	Q4 FY2025	Q1 FY2025	Change on the year
Operating cash flow	-9.0	1,881	375	n/a
Cash from investing	-2,533	-3,470	-3,873	n/a
Cash from financing	2,467	1,720	3,074	-19.7%
Depreciation and amortisation	165	174	89.0	+85.4%
Buybacks	1,250	1,106	321	+289.4%
Dividends paid	114	119	133	-14.3%
Dividend per share	$0.25	$0.24	$0.24	+4.2%
Diluted shares, weighted	474m	512m	558m	-15.1%
Shares outstanding at period end	457m	496m	553m	-17.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2026	Q4 FY2025	Q1 FY2025	Change on the year
Shareholders' equity	10,805	13,201	11,980	-9.8%
Non-controlling interest	736	759	856	-14.0%
Short-term borrowings	n/a	n/a	1,101	n/a
Debt	n/a	10,906	n/a	n/a
Other liabilities	395,519	388,681	376,085	+5.2%
Total liabilities and equity	407,060	413,547	390,022	+4.4%
Securities held for sale or to maturity	187,673	189,381	174,352	+7.6%
Loans	54,353	54,481	53,332	+1.9%
Cash and equivalents	378	453	399	-5.3%
Other assets	164,656	169,232	161,939	+1.7%
Total assets	407,060	413,547	390,022	+4.4%

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024 †	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	5,505	3,354	5,836	3,710	2,599	6,619	3,572	2,726	5,416	6,731	3,964	3,914
SG&A	611	563	572	532	475	494	526	517	481	n/a	468	466
Operating income	2,461	-1,763	1,016	456	-1,594	2,925	-862	-608	-42.0	971	97.0	52.0
Operating margin	45%	-53%	17%	12%	-61%	44%	-24%	-22%	-1%	14%	2%	1%
Interest expense	135	139	138	138	133	145	148	137	135	132	131	131
Pre-tax income	2,461	-1,763	1,016	456	-1,594	2,925	-862	-608	-42.0	971	97.0	52.0
Tax rate	16%	n/a	19%	25%	n/a	24%	n/a	n/a	n/a	18%	163%	96%
Net income	2,101	-1,309	878	365	-1,184	2,171	-664	-660	144	814	-53.0	2.0
Net margin	38%	-39%	15%	10%	-46%	33%	-19%	-24%	3%	12%	-1%	0%
Diluted EPS	$3.28	-$2.07	$1.41	$0.59	-$2.02	$3.80	-$1.19	-$1.20	$0.27	$1.59	-$0.11	-$0.04
Operating cash flow	1,018	767	598	-9.0	83.0	1,479	375	-259	24.0	1,881	-9.0	-44.0
Buybacks	46.0	252	243	436	715	398	321	311	380	1,106	1,250	300
Dividends paid	146	876	143	139	133	129	133	131	128	119	114	112
Shares outstanding	633m	622m	615m	600m	574m	561m	553m	543m	532m	496m	457m	446m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2026, filed 6 May 2026, accession 0001889539-26-000116: the filing on EDGAR. All of Corebridge Financial, Inc.'s filings: EDGAR company page.

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