Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • Nikkei

    40,369.44
    +201.37 (+0.50%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Bitcoin USD

    70,095.38
    -427.48 (-0.61%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • FTSE Bursa Malaysia

    1,536.07
    +5.47 (+0.36%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

MetLife (MET) Q4 Earnings & Revenues Top Estimates, Rise Y/Y

MetLife, Inc.’s MET fourth-quarter 2019 operating earnings of $1.98 per share beat the Zacks Consensus Estimate by 41.4% and surged 46.7% year over year. Earnings gained from a rise in revenues.

Behind the Headlines

The company generated operating revenues of $18.2 billion, up 18% year over year, and surpassed the Zacks Consensus Estimate by 8.9%.

Adjusted premiums, fees & other revenues, excluding pension risk transfer, grew 24% year over year to $13.8 billion. Net investment income (adjusted) of $4.5 billion increased 3% year over year.

Total adjusted  expenses of $16.5 million were up 19.6% year over year.
Book value per share was $48.97, up 9.7% year over year.

ADVERTISEMENT

Tangible return on equity was 6.1%, down 1830 basis points year over year.

MetLife, Inc. Price, Consensus and EPS Surprise

MetLife, Inc. Price, Consensus and EPS Surprise
MetLife, Inc. Price, Consensus and EPS Surprise

MetLife, Inc. price-consensus-eps-surprise-chart | MetLife, Inc. Quote

Quarterly Segment Details

United States

Adjusted earnings in this segment declined 1% year over year to $675 million due to unfavorable underwriting. Adjusted premiums, fees & other revenues were $8.6 billion, up 50% year over year.

Asia

Operating earnings of $341 million increased 21% year over year, driven by volume growth and higher investment margins. Adjusted premiums, fees & other revenues were $2.1 billion, down 2% on a constant-currency basis.

Latin America

Operating earnings were $161 million, up 18% year over year, driven by capital markets and volume growth. Adjusted premiums, fees & other revenues were $888 million, down 7% due to lower annuity sales in Chile.
Europe, the Middle East, and Africa (EMEA)

Operating earnings from EMEA increased 20% year over year to $66 million, primarily driven by favorable taxes and volume growth, partially offset by unfavorable underwriting.

Adjusted premiums, fees & other revenues were $670 million, up 5% year over year on a constant-currency basis.

MetLife Holdings

Adjusted operating earnings from MetLife Holdings came in at $269 million, up 21% year over year.

Operating premiums, fees & other revenues were $1.3 billion, down 5% year over year.

Financial Update

As of Dec 31, 2019, shareholders’ equity was $62.8 billion, up 27.1% year over year.

Long-term debt as of Dec 31, 2019 was $13.5 billion, up 5.5% year over year.

Zacks Rank & Other Releases

MetLife currently has a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some other insurers that have reported earnings this season are Unum Group UNM, The Progressive Corp. PGR and Chubb Ltd. CB, each beating their estimate by 2.17%, 58.8% and 8.6%, respectively.

"More Stock News: This Is Bigger than the iPhone!                   

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.

Click here for the 6 trades >>"


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Unum Group (UNM) : Free Stock Analysis Report
 
MetLife, Inc. (MET) : Free Stock Analysis Report
 
Chubb Limited (CB) : Free Stock Analysis Report
 
The Progressive Corporation (PGR) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research