MetLife (MET) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, MetLife (MET) reported revenue of $18.24 billion, down 23% over the same period last year. EPS came in at $1.97, compared to $1.21 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $17.93 billion, representing a surprise of +1.72%. The company delivered an EPS surprise of -1.01%, with the consensus EPS estimate being $1.99.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how MetLife performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Latin America- Total adjusted revenues: $1.85 billion compared to the $1.77 billion average estimate based on four analysts.
Revenue- Corporate & other- Premiums: $9 million versus the four-analyst average estimate of $16.46 million.
Revenue- Corporate & other- Net investment income: $125 million versus the four-analyst average estimate of $73.99 million.
Revenue- Corporate & other- Other Revenues: $103 million versus the four-analyst average estimate of $110.93 million.
Revenues- Premiums: $11.23 billion compared to the $10.99 billion average estimate based on six analysts. The reported number represents a change of -36% year over year.
Revenues- Other Revenues: $606 million versus $627.34 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -17% change.
Revenues- Universal life and investment-type product policy fees: $1.33 billion versus the six-analyst average estimate of $1.31 billion. The reported number represents a year-over-year change of +2.5%.
Revenues- Net investment income: $4.83 billion versus $5 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +34.6% change.
Revenues- Retirement & Income Solutions- Premiums: $2.33 billion versus the four-analyst average estimate of $1.73 billion.
Revenues- Retirement & Income Solutions- Universal life and investment-type product policy fees: $82 million compared to the $72.79 million average estimate based on four analysts.
Revenues- Retirement & Income Solutions- Net investment income: $2.01 billion versus $1.93 billion estimated by four analysts on average.
Revenues- Retirement & Income Solutions- Other Revenues: $66 million versus the four-analyst average estimate of $79.70 million.
View all Key Company Metrics for MetLife here>>>
Shares of MetLife have returned -0.4% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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MetLife, Inc. (MET) : Free Stock Analysis Report
