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MetLife (MET) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·3-min read

MetLife (MET) reported $17.02 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 5.5%. EPS of $1.83 for the same period compares to $1.52 a year ago.

The reported revenue represents a surprise of -3.81% over the Zacks Consensus Estimate of $17.69 billion. With the consensus EPS estimate being $1.83, the company has not delivered EPS surprise.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how MetLife performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Total Adjusted Revenue- Latin America: $1.88 billion versus the three-analyst average estimate of $1.95 billion. The reported number represents a year-over-year change of +7.5%.

  • Adjusted Revenue- Corporate & other- Premiums: $6 million versus the three-analyst average estimate of $16.40 million. The reported number represents a year-over-year change of -62.5%.

  • Total Adjusted Revenue- EMEA: $674 million versus the three-analyst average estimate of $650.81 million. The reported number represents a year-over-year change of +7.7%.

  • Total Adjusted Revenue- Asia: $2.85 billion versus $2.86 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6.6% change.

  • Revenue- Premiums: $10.05 billion versus $10.88 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.8% change.

  • Revenue- Other Revenues: $674 million versus the five-analyst average estimate of $633.59 million. The reported number represents a year-over-year change of +5.5%.

  • Revenue- Universal life and investment-type product policy fees: $1.25 billion compared to the $1.33 billion average estimate based on five analysts. The reported number represents a change of -3.2% year over year.

  • Revenue- Net investment income: $5.44 billion compared to the $4.93 billion average estimate based on five analysts. The reported number represents a change of +17% year over year.

  • Adjusted Revenue- Retirement & Income Solutions- Premiums: $675 million versus $1.64 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +34.7% change.

  • Adjusted Revenue- Retirement & Income Solutions- Universal life and investment-type product policy fees: $75 million compared to the $86.40 million average estimate based on three analysts. The reported number represents a change of -5.1% year over year.

  • Adjusted Revenue- Retirement & Income Solutions- Net investment income: $2.09 billion versus the three-analyst average estimate of $1.91 billion. The reported number represents a year-over-year change of +15.2%.

  • Adjusted Revenue- Retirement & Income Solutions- Other Revenues: $63 million versus $68.46 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -7.4% change.

View all Key Company Metrics for MetLife here>>>

Shares of MetLife have returned -2.9% over the past month versus the Zacks S&P 500 composite's -4.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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