Equitable vs Oscar

10-Q Financial Filing Analysis for Equitable (2026-08-06)

Equitable Holdings, Inc. reported its second-quarter 2026 financial results, posting total revenues of $1.66 billion for the quarter ended June 30, 2026, compared to $2.36 billion in Q2 2025, driven by market-related derivative impacts. For the first six months of 2026, total revenues reached $5.89 billion, generating net income available to common shareholders of $141 million ($0.50 per diluted share), recovering from a net loss of $318 million in the prior-year period. Total assets expanded to $334.66 billion, underpinned by $143.01 billion in Separate Accounts assets and $125.85 billion in total investments. Key strategic progress includes shareholder approval on July 30, 2026, for the pending all-stock merger with Corebridge Financial, Inc., which remains on track to close by year-end 2026.

• Shareholders of both Equitable and Corebridge approved the all-stock merger on July 30, 2026, with the transaction expected to close by year-end 2026.
• For the six months ended June 30, 2026, total revenues reached $5.888 billion with net income attributable to Holdings of $168 million ($0.50 diluted EPS), compared to a net loss of $286 million in H1 2025.
• Total balance sheet assets expanded to $334.657 billion as of June 30, 2026, supported by $125.851 billion in total investments and $143.006 billion in Separate Accounts assets.

8-K Financial Filing Analysis for Equitable (2026-09-25)

Equitable Holdings, Inc. disclosed a leadership succession plan at its subsidiary, AllianceBernstein (AB). Seth Bernstein will retire as CEO of AB and Head of Asset Management of Equitable Holdings effective March 31, 2027, continuing to serve on the AB Board of Directors. Onur Erzan, currently AB President and Head of Global Private Alternatives, has been named President and CEO of AB and will join its Board of Directors effective April 1, 2027, with a fiscal year 2027 target compensation of $13.5 million. Additionally, the filing details the voting results of Equitable's Annual Meeting of Stockholders held on September 23, 2026, where shareholders elected nine directors, ratified PricewaterhouseCoopers LLP as independent auditor for 2026, and approved executive compensation on an advisory basis.

• Seth Bernstein to retire as AllianceBernstein CEO and EQH Head of Asset Management on March 31, 2027, receiving a $2.5 million AB Holding Unit LTIP grant, a $1.0 million EQH LTIP award, and $325,000 in salary continuation.
• Onur Erzan appointed President and CEO of AllianceBernstein effective April 1, 2027, with a 2027 target total compensation of $13.5 million ($650,000 base salary, $5.8 million cash bonus, and equity awards totaling $7.05 million).
• Stockholders approved all three proposals at the September 23, 2026 Annual Meeting: election of 9 directors, ratification of PwC for fiscal 2026, and advisory approval of named executive officer compensation.

Equitable expands retirement plan offering with introduction of Retirement Milestones℠ T. Rowe Price Series

Equitable announced the introduction of the Retirement Milestones℠ T. Rowe Price Series, the first target-date investment option available through Retirement Milestones, a new series of collective investment trust (CIT) solutions in collaboration with strategic investment managers.

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10-Q Financial Filing Analysis for Oscar (2026-08-07)

Oscar Health, Inc. reported substantial revenue growth and a return to profitability for the second quarter of 2026 ended June 30, 2026. Total revenue reached $4.88 billion for Q2 2026, up 70.4% from $2.86 billion in Q2 2025, driven by strong membership growth to approximately 3.0 million effectuated members (a 46% year-over-year increase) and disciplined rate increases. Operating performance improved significantly, posting operating income of $388.6 million and net income attributable to Oscar Health of $361.8 million, compared to an operating loss of $230.5 million and a net loss of $228.4 million in the prior-year period. The Medical Loss Ratio (MLR) improved markedly to 79.2% from 91.1% in Q2 2025, supported by disciplined pricing and favorable prior-period reserve developments. The company also maintained strong liquidity, with $4.08 billion in cash and cash equivalents, expanded short-term investments, and an undrawn $475.0 million revolving credit facility.

• Q2 2026 total revenue increased 70.4% YoY to $4.88 billion, with net income attributable to Oscar reaching $361.8 million ($1.10 diluted EPS).
• Medical Loss Ratio (MLR) improved 1,190 basis points YoY to 79.2% for Q2 2026, while the SG&A expense ratio declined to 14.2% from 18.7%.
• Total effectuated membership expanded 46% YoY to 2,963,002 members as of June 30, 2026.

Oscar Health is building the new consumer health economy

At Investor Day, Oscar Health raised its 2026 earnings outlook and outlined how its ACA leadership, CHOICE adoption, Lucie and AI advantage will support durable, profitable growth.