Workflow
Sun Life Financial Q4 Earnings & Revenues Miss Estimates, Down Y/Y
SLFSun Life Financial(SLF) ZACKS·2025-02-13 18:46

Core Insights - Sun Life Financial Inc. (SLF) reported a fourth-quarter 2024 underlying net income of 1.20pershare,missingtheZacksConsensusEstimateby3.21.20 per share, missing the Zacks Consensus Estimate by 3.2% and reflecting a year-over-year decrease of 2.4% [1][2] - The company's underlying net income totaled 689.6 million (C965million),down2965 million), down 2% year over year, primarily due to a decline in Group - Health & Protection underlying net income [2] - Revenues fell 60.9% year over year to 5.9 billion, missing the Zacks Consensus Estimate by 11.9% [2] Financial Performance - The new business contractual service margin was reported at 218.6million(C218.6 million (C306 million), down 19.7% year over year [3] - SLF Canada's underlying net income increased by 22.4% year over year to 261.6million(C261.6 million (C366 million), driven by better performance in Wealth & Asset Management and Individual - Protection [4] - SLF U.S. reported an underlying net income of 161million,adecreaseof36.4161 million, a decrease of 36.4% year over year, attributed to soft performance in Group - Health & Protection and Individual - Protection [5] - SLF Asset Management's underlying net income grew 8.8% year over year to 257 million (C360million),supportedbyhigherfeeincome[6]−SLFAsia′sunderlyingnetincomeincreasedby22.4360 million), supported by higher fee income [6] - SLF Asia's underlying net income increased by 22.4% year over year to 125 million (C175 million), driven by improved results in Wealth & Asset Management and Individual - Protection [7] Sales and Asset Management - Wealth sales & asset management gross flows increased by 33.3% year over year to 43.6 billion (C61billion)inthequarter[2]−SLF′sAssetManagementAUMreached61 billion) in the quarter [2] - SLF's Asset Management AUM reached 779 billion (C1,121.3billion),markinga101,121.3 billion), marking a 10% year-over-year increase [6] - SLC Management's AUM increased by 12% year over year to 18.8 billion (C27billion)[6]FinancialRatiosandDividends−Globalassetsundermanagementwerereportedat27 billion) [6] Financial Ratios and Dividends - Global assets under management were reported at 1.1 trillion (C$1,542 billion), up 10% year over year [9] - Sun Life Assurance's LICAT ratio was 146% as of December 31, 2024, expanding 500 basis points from January 1, 2023 [9] - The company declared a dividend of 84 cents per share in the reported quarter [11]