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Compared to Estimates, MetLife (MET) Q3 Earnings: A Look at Key Metrics
METMetLife(MET) ZACKS·2024-10-31 00:36

Core Insights - MetLife reported revenue of 17.61billionforthequarterendedSeptember2024,adecreaseof3.417.61 billion for the quarter ended September 2024, a decrease of 3.4% year-over-year, and EPS of 1.93, down from 1.97inthesamequarterlastyear[1]−TherevenuefellshortoftheZacksConsensusEstimateof1.97 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of 18.47 billion by 4.66%, and the EPS was 10.65% below the consensus estimate of 2.16[1]FinancialPerformanceMetrics−TotalAdjustedRevenueforLatinAmericawas2.16 [1] Financial Performance Metrics - Total Adjusted Revenue for Latin America was 1.93 billion, slightly below the estimated 1.98billion,reflectingayear−over−yearincreaseof4.41.98 billion, reflecting a year-over-year increase of 4.4% [3] - Adjusted Revenue for Corporate & Other Premiums reported a loss of 6 million, significantly lower than the estimated 16.67million,markingayear−over−yeardeclineof166.716.67 million, marking a year-over-year decline of 166.7% [3] - Total Adjusted Revenue for Asia was 2.84 billion, below the estimated 3.02billion,withayear−over−yearincreaseof2.83.02 billion, with a year-over-year increase of 2.8% [3] - Net investment income was reported at 5.23 billion, exceeding the estimated 5.13billion,withayear−over−yearincreaseof6.95.13 billion, with a year-over-year increase of 6.9% [3] - Revenue from Universal life and investment-type product policy fees was 1.23 billion, below the estimated 1.33billion,representingayear−over−yeardeclineof81.33 billion, representing a year-over-year decline of 8% [3] - Adjusted Revenue for MetLife Holdings Premiums was 673 million, below the estimated 688.58million,withayear−over−yeardecreaseof1.8688.58 million, with a year-over-year decrease of 1.8% [3] - Adjusted Revenue for MetLife Holdings Net investment income was 981 million, below the estimated $1.01 billion, reflecting a year-over-year decline [3] Stock Performance - MetLife shares have returned +1.3% over the past month, compared to the Zacks S&P 500 composite's +1.8% change, with a current Zacks Rank of 3 (Hold) indicating potential performance in line with the broader market [3]