MetLife (MET) Misses Q3 Earnings and Revenue Estimates

Core Insights - MetLife reported quarterly earnings of $1.93 per share, missing the Zacks Consensus Estimate of $2.16 per share, and showing a decrease from $1.97 per share a year ago, resulting in an earnings surprise of -10.65% [1] - The company posted revenues of $17.61 billion for the quarter ended September 2024, which was 4.66% below the Zacks Consensus Estimate and down from $18.24 billion year-over-year [2] - MetLife's stock has increased by approximately 25.3% since the beginning of the year, outperforming the S&P 500's gain of 22.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.30, with expected revenues of $19.17 billion, and for the current fiscal year, the EPS estimate is $8.58 on revenues of $73.34 billion [7] - The estimate revisions trend for MetLife is mixed, leading to a Zacks Rank 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Industry Context - The Insurance - Multi line industry, to which MetLife belongs, is currently ranked in the top 28% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - American International Group (AIG), another company in the same industry, is expected to report a quarterly earnings decline of 29.8% year-over-year, with revenues anticipated to drop by 41.7% from the previous year [9][10]