MetLife (MET) Q2 Earnings and Revenues Miss Estimates

Core Insights - MetLife reported quarterly earnings of $2.02 per share, missing the Zacks Consensus Estimate of $2.19 per share, and down from $2.28 per share a year ago, representing an earnings surprise of -7.76% [1] - The company posted revenues of $17.92 billion for the quarter, missing the Zacks Consensus Estimate by 2.58%, and down from $18.68 billion year-over-year [2] - MetLife shares have declined approximately 8.5% year-to-date, contrasting with the S&P 500's gain of 7.1% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.36 on revenues of $18.65 billion, and for the current fiscal year, it is $8.96 on revenues of $74.8 billion [7] - The estimate revisions trend for MetLife was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Insurance - Multi line industry, to which MetLife belongs, is currently ranked in the top 39% of over 250 Zacks industries, suggesting that companies in the top 50% outperform those in the bottom 50% by more than 2 to 1 [8]