4Q25 Earnings Call Presentation1 John McCallion Chief Financial Officer and Head of MetLife Investment Management 1 These slides highlight information in MetLife, Inc.'s earnings release, quarterly financial supplement and other prior public disclosures. 1 These slides highlight information in MetLife, Inc.'s earnings release, quarterly financial supplement and other prior public disclosures. 1 Table of contents Page No. | Key 2025 highlights | 3 | | --- | --- | | Adjusted earnings by segment and Corporate ...

Core Insights - MetLife, Inc. has a market capitalization of $51.4 billion and operates in six business segments, providing a wide range of financial services including insurance, annuities, employee benefits, and asset management solutions [1] Stock Performance - Over the past 52 weeks, MetLife's stock has decreased by 7.8%, underperforming the S&P 500 Index, which has increased nearly 14% [2] - Year-to-date, MetLife shares are down 1.2%, contrasting with a slight rise in the S&P 500 [2] - The stock has also lagged behind the State Street Financial Select Sector SPDR ETF, which has returned 5.5% over the same period [3] Financial Results - MetLife reported strong Q4 2025 results, with net investment income rising to $5.92 billion, driven by favorable market conditions following U.S. Federal Reserve rate cuts [5] - Adjusted premiums, fees, and other revenues surged by 29% to $18.61 billion, while adjusted EPS increased by 19% to $2.49 [5] - The company benefited from strong volume growth, improved expense margins, disciplined premium pricing, and solid consumer spending trends [5] Future Earnings Expectations - For the fiscal year ending December 2026, analysts project MetLife's adjusted EPS to grow by 10.9% year-over-year to $9.86 [6] - The company's earnings surprise history is mixed, with two beats and two misses in the last four quarters [6] - Among 19 analysts covering the stock, the consensus rating is a "Moderate Buy," with 12 "Strong Buy" ratings and seven "Holds" [6] Analyst Ratings and Price Targets - Wells Fargo analyst Elyse Greenspan raised MetLife's price target to $97, maintaining an "Overweight" rating [8] - The mean price target of $92.94 suggests a premium of 19.1% to current levels, while the highest price target of $102 implies a potential upside of 30.8% [8]

Core Insights - The company reported a 27.5% year-over-year revenue growth in Q4, reaching $23.81 billion, which fell short of analysts' expectations of $27.22 billion [1] - Adjusted earnings per share were $2.49, exceeding analysts' expectations of $2.34 [1] - Net investment income for the period was $5.92 billion, reflecting a 9.4% year-over-year increase [1]

Core Insights - MetLife reported $24.19 billion in revenue for Q4 2025, a year-over-year increase of 22.6%, with EPS of $2.58 compared to $2.08 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $30.04 billion, resulting in a surprise of -19.47%, while the EPS exceeded expectations by 9.32% [1] Financial Performance Metrics - Adjusted Revenue from Asia's net investment income was $1.41 billion, exceeding the estimated $1.38 billion, reflecting a 12.3% year-over-year increase [4] - Adjusted Revenue from Latin America's premiums reached $1.44 billion, surpassing the $1.24 billion estimate, marking a 31.4% year-over-year growth [4] - Adjusted Revenue from Asia's premiums was $1.22 billion, slightly below the $1.23 billion estimate, showing a 1.3% year-over-year increase [4] - Adjusted Revenue from EMEA's premiums was $679 million, exceeding the $627.25 million estimate, with a year-over-year change of 19.5% [4] - Total revenue from net investment income was $5.92 billion, above the $5.5 billion estimate, representing a 9.6% year-over-year increase [4] - Other revenues amounted to $737 million, surpassing the $661.92 million estimate, with a year-over-year change of 15% [4] - Universal life and investment-type product policy fees generated $1.27 billion, slightly above the $1.26 billion estimate, reflecting a 4.2% year-over-year increase [4] - Total adjusted revenue for Group Benefits was $6.65 billion, slightly below the $6.71 billion estimate, with a year-over-year change of 2.3% [4] - Adjusted Revenue for Retirement & Income Solutions from universal life and investment-type product policy fees was $104 million, exceeding the $98.69 million estimate, marking a 5.1% year-over-year increase [4] - Adjusted Revenue for Retirement & Income Solutions from net investment income was $2.23 billion, above the $2.19 billion estimate, reflecting a 4% year-over-year increase [4] - Adjusted Revenue for Retirement & Income Solutions from other revenues was $75 million, surpassing the $62.52 million estimate, with a year-over-year change of 23% [4] Stock Performance - MetLife's shares have returned -5.3% over the past month, while the Zacks S&P 500 composite increased by 0.9% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance compared to the broader market in the near term [3]

Financial Performance - Total revenues for Q4 2025 reached $18.666 billion, an increase from $17.361 billion in Q3 2025[4] - Net income attributable to MetLife, Inc. for Q4 2025 was $1.239 billion, compared to $818 million in Q3 2025, reflecting a 51.5% increase[4] - Premiums for Q4 2025 were $12.617 billion, up from $10.555 billion in Q3 2025, representing a 19.5% growth[4] - Net investment income for Q4 2025 was $5.405 billion, an increase from $6.089 billion in Q3 2025[4] - Policyholder benefits and claims for Q4 2025 totaled $12.572 billion, compared to $10.369 billion in Q3 2025, indicating a 21.2% rise[4] - Total expenses for Q4 2025 were $17.285 billion, up from $16.151 billion in Q3 2025[4] - The company reported a net income of $4.426 billion for the full year 2025, compared to $3.379 billion in 2024, marking a 31.0% increase[4] - Adjusted earnings available to common shareholders for Q4 2025 were $1.239 billion, compared to $879 million in Q3 2025[4] Investment Performance - Net investment income for the year ended December 31, 2025, was $22,559 million, compared to $21,273 million in 2024, reflecting an increase of about 6.0%[11] - The company reported net investment gains (losses) of $(1,145) million for the year ended December 31, 2025, compared to $(1,184) million in 2024, showing an improvement in investment performance[11] - Variable investment income included in net investment income for the year ended December 31, 2025, was $1,502 million, up from $1,013 million in 2024, indicating a significant increase of approximately 48.4%[11] - The company reported a net investment loss of $311 million in Q4 2024, compared to a loss of $387 million in Q1 2025[5] - Net investment income including divested businesses for the year ended December 31, 2025 is $21,433 million[57] Assets and Liabilities - Total assets increased from $677,457 million in December 2024 to $745,166 million in December 2025, representing a growth of 10%[19] - Total liabilities increased from $649,754 million in December 2024 to $716,245 million in December 2025, marking an increase of 10%[19] - Policyholder account balances grew from $221,445 million in December 2024 to $236,857 million in December 2025, an increase of 7%[19] - Future policy benefits at the end of December 2025 are projected to be $84,988 million, up from $71,510 million at the end of December 2024, representing a growth of approximately 18.8%[27] Earnings and Shareholder Equity - Adjusted earnings available to common shareholders for the year ended December 31, 2025, were $1,692 million, compared to $1,606 million in 2024, reflecting an increase of 5.4%[22] - Total MetLife, Inc.'s stockholders' equity as of December 31, 2024, was $27,445 million, increasing to $28,398 million by December 31, 2025[76] - Common stockholders' equity rose from $23,627 million on December 31, 2024, to $25,568 million by December 31, 2025[76] - Book value per common share increased from $34.28 on December 31, 2024, to $39.02 by December 31, 2025[76] Segment Performance - Group Benefits segment adjusted earnings increased from $526 million in December 2024 to $589 million in March 2025, a rise of 12%[20] - Asia segment adjusted earnings showed a significant increase from $489 million in June 2025 to $752 million in September 2025, a growth of 54%[20] - Adjusted earnings available to common shareholders in EMEA for December 31, 2024, were $59 million, projected to increase to $97 million by December 31, 2025, representing a growth of 64.4%[44] Expenses - Total adjusted expenses for the year ended December 31, 2025, were $24,739 million, compared to $24,091 million in 2024, reflecting an increase of 2.7%[22] - Adjusted other expenses for the three months ended December 31, 2025, totaled $1,100 million, an increase from $1,041 million in December 2024, reflecting a rise of 5.7%[23] - Employee-related costs for the year ended December 31, 2025, were $3,834 million, an increase from $3,696 million in 2024[18] Future Projections - The company anticipates continued growth in adjusted earnings, with a target of $1,709 million for Q4 2025[5] - The company plans to continue focusing on market expansion and new product development to drive future growth[46] - The company anticipates adjusted premiums, fees, and other revenues to reach $18,614 million for the full year 2025, indicating growth potential[79] Notable Items - Total notable items for the year ended December 31, 2025, included a positive impact of $26 million, while notable items for the year ended December 31, 2024, had a negative impact of $43 million[71] - Total notable items reflect unexpected impacts on MetLife's results, which can affect the company's performance positively or negatively[77]

MetLife reported a rise in fourth-quarter adjusted profit on Wednesday, as the insurer was helped by a stronger return on its investment portfolio. ...

Core Viewpoint - MetLife, Inc. is considered one of the best cheap stocks to buy for 2026, despite a recent downgrade by Evercore ISI, which lowered its rating to "In Line" and cut the price target from $108 to $97 [1][3]. Group 1: Analyst Downgrade and Earnings Estimates - Evercore ISI's downgrade was influenced by concerns over potential downside to consensus forward earnings, indicating a weakening of MetLife's earnings expectations compared to previous market anticipations [3]. - The firm reduced its 2026 earnings estimate for MetLife by approximately 3.5% and noted that its initial 2027 earnings estimate was about 4-5% below consensus expectations [3]. Group 2: Valuation and Risk Factors - Analysts expressed valuation concerns, stating that MetLife's stock appears relatively expensive compared to mid-cap peers, although it remains cheaper than some larger competitors [3]. - Specific concerns were raised regarding low new money spreads on public corporate bonds and MetLife's higher risk commercial mortgage loan portfolio compared to peers, which was described as a "double-edged sword" for the stock [4]. Group 3: Growth Opportunities - Despite the risks, MetLife has demonstrated impressive growth in Asia, which could serve as a positive factor for the company [5]. - Analysts noted that risk transfer deals could act as a potential catalyst for MetLife's stock performance [5]. Group 4: Company Overview - MetLife, Inc. provides a range of services including insurance, annuities, employee benefits, and asset management across the United States and international markets, covering life, dental, disability, property, and casualty insurance, as well as retirement and savings products [6].

Core Insights - MetLife, Inc. (MET) is scheduled to report its fourth-quarter 2025 results on February 4, with earnings estimated at $2.36 per share and revenues at $25.6 billion, indicating year-over-year growth of 13.5% and 29.6% respectively [1][5] Financial Performance - The Zacks Consensus Estimate for MetLife's total revenues for the current year is $80 billion, reflecting a 9.4% increase year-over-year, while the EPS estimate stands at $8.71, suggesting a 7.4% rise [2] - In the last four quarters, MetLife missed earnings estimates three times and exceeded them once [2] Earnings Prediction - The current model does not predict a definitive earnings beat for MetLife, as it holds an Earnings ESP of +0.47% and a Zacks Rank of 4 (Sell) [3] Revenue Growth Drivers - The anticipated revenue growth in Q4 is attributed to rising premiums, adjusted group benefits revenues, and adjusted retirement and income solutions revenues, particularly benefiting from international markets in Asia, EMEA, and Latin America [4][5] - The Zacks Consensus Estimate for premiums in the upcoming quarter indicates a significant increase of 79.4% year-over-year [4] Segment Performance - Adjusted retirement and income solutions revenues are projected at $11.3 billion, nearly doubling from the previous year [6] - The Asia segment is expected to benefit from improved variable investment income and increased volumes, while EMEA and Latin America are projected to see growth from higher volumes [6] Challenges - Rising costs and expenses may partially offset profit growth in the upcoming quarter, with a projected decline of 4.1% in adjusted earnings from the Asia business year-over-year [7]

In its upcoming report, MetLife (MET) is predicted by Wall Street analysts to post quarterly earnings of $2.36 per share, reflecting an increase of 13.5% compared to the same period last year. Revenues are forecasted to be $25.57 billion, representing a year-over-year increase of 29.6%.The consensus EPS estimate for the quarter has undergone a downward revision of 0.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial ...

中经记者 慈玉鹏 北京报道 2026年，居民定期存款大规模到期，有机构预测规模将超过50万亿元。《中国经营报》记者采访了解 到，在存款利率下行的大背景下，2026年"开门红"期间，保险产品成为银行重点推荐的理财产品，主要 为分红险和年金险，受到客户欢迎，成为银行抢客"利器"。部分产品年化利率或达到3%以上，具体根 据市场情况或有变动。 另外，此前一个银行网点只能和1家主合作保险公司与3家辅合作保险公司合作，相当于只能卖这4家的 保险产品。而2024年5月，监管取消了该限制，打开了合作大门。 均属于长期投资 从产品特点看，一位北京地区银行人士告诉记者，分红险和年金险均有一定封闭期，至少存完第二年方 可取出。像分红险，一般都是交3年，第4年回本，而年金险的话，一般最快也是第5年回本。该类产品 均是长期投资，属于终身型理财产品。 上述北京地区银行人士告诉记者，从收益看，一般分红险要比年金险高。而从流动性看，如果客户有现 金流需求，则更适合年金险。年金险分为两种，一种是快返型年金险，基本第五年就开始返回年金加分 红；一种是养老型年金，即等到客户退休之后每年返回固定金额。而分红险（增额人寿险），一般是前 3年每年投入金 ...