The earnings call reflects a generally positive outlook for MetLife with robust growth strategies, strategic partnerships, and strong financial performance. However, there are some challenges noted, especially in specific segments like group benefits and RIS, and currency headwinds affecting international operations.

Company Guidance

During the MetLife Fourth Quarter and Full Year 2024 earnings call, the company provided comprehensive guidance for the near term, highlighting several key financial metrics and strategic priorities. MetLife introduced its New Frontier strategy, which aims for double-digit adjusted earnings per share (EPS) growth, with a 60% contribution from business and margin growth and the rest from disciplined capital management. The company increased its adjusted return on equity (ROE) target range to 15% to 17% and committed to reducing its direct expense ratio by 100 basis points from the previous 12.3% target, aiming for 11.3% by 2029. Furthermore, MetLife plans to generate $25 billion in free cash flow over the next five years. For 2025, the company expects adjusted earnings to be buoyed by higher investment income and continued change in product mix, with specific targets including a corporate and other adjusted loss range of $850 to $950 million after tax and a maintained effective tax rate of 24% to 26%. The guidance also reflected a focus on strategic priorities, such as expanding leadership in group benefits, capitalizing on the retirement platform, accelerating asset management growth, and expanding in high-growth international markets.

Outperformance of Stock

MetLife, Inc.'s stock outperformed the Standard and Poor's 500 index in 2024, demonstrating strong market recognition of its performance.

Introduction of New Frontier Strategy

MetLife rolled out its New Frontier strategy, focusing on growth with four strategic priorities: extending leadership in group benefits, capitalizing on the retirement platform, accelerating growth in asset management, and expanding in high-growth international markets.

Significant Transactions and Partnerships

MetLife announced the formation of Cherry Tree, a Bermuda-based life and annuity reinsurance company, in partnership with General Atlantic and Chubb as an anchor investor. Additionally, MetLife acquired PineBridge Investments and certain teams from Mesero Financial.

Strong Financial Metrics and Goals

Double-digit adjusted EPS growth targeted, with adjusted return on equity range increased to 15%-17%. Commitment to $25 billion of free cash flow over five years, up from $20 billion.

Fourth Quarter and Full Year Results

Fourth quarter adjusted earnings of $1.5 billion, or $2.09 per share, up 14% from the prior year. Full year adjusted earnings of $5.8 billion.

Group Benefits and International Growth

Group benefits business generated adjusted earnings of $1.7 billion in 2024 with full-year sales up 8%. Asia and Latin America also showed strong performance with significant earnings growth.

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Metlife (MET) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MET Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 30, 2025	2025 (Q1)	2.09 / -	1.83	―	―	―
Feb 05, 2025	2024 (Q4)	2.11 / 2.09	1.83	14.21% (+0.26)
Oct 30, 2024	2024 (Q3)	2.17 / 1.95	1.97	-1.02% (-0.02)
Jul 31, 2024	2024 (Q2)	2.10 / 2.28	1.94	17.53% (+0.34)
May 01, 2024	2024 (Q1)	1.84 / 1.83	1.52	20.39% (+0.31)
Jan 31, 2024	2023 (Q4)	1.88 / 1.83	1.55	18.06% (+0.28)
Nov 01, 2023	2023 (Q3)	1.94 / 1.97	1.21	62.81% (+0.76)
Aug 02, 2023	2023 (Q2)	1.90 / 1.94	2	-3.00% (-0.06)
May 03, 2023	2023 (Q1)	1.81 / 1.52	2.08	-26.92% (-0.56)
Feb 01, 2023	2022 (Q4)	1.67 / 1.55	2.17	-28.57% (-0.62)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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MET Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 05, 2025	$85.00	$83.67	-1.56%
Oct 30, 2024	$82.08	$77.38	-5.73%
Jul 31, 2024	$75.22	$74.17	-1.40%
May 01, 2024	$69.81	$68.22	-2.28%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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