The earnings call reflects a mixed sentiment with several strong performances in key segments like Latin America and effective capital management, but also challenges in investment income and market conditions in Japan and Asia. The company is maintaining its strategic direction and is optimistic about future prospects.

Company Guidance

During the MetLife Q3 2024 earnings call, the company outlined several key financial metrics and strategic insights. Adjusted earnings for the quarter reached $1.4 billion, translating to $1.95 per share, slightly reduced to $1.93 per share after accounting for net positive notable items. MetLife achieved a 14.6% adjusted return on equity, surpassing its full-year target range of 13% to 15%. The direct expense ratio improved to 11.7%, better than the annual target of 12.3%. In terms of segment performance, Group Benefits reported adjusted earnings of $431 million, while Retirement and Income Solutions earned $368 million. Notably, MetLife executed substantial capital management activities, returning approximately $1 billion to shareholders through dividends and share repurchases. The company remains optimistic about its strategic initiatives, including the upcoming New Frontier strategy, designed to enhance growth, returns, and consistency across its operations.

Strong Year-to-Date Performance

Year-to-date adjusted earnings per share, excluding notable items, are up 12%, indicating broader-based momentum and a favorable underlying environment.

Group Benefits and RIS Business Growth

In the U.S., favorable conditions for Group Benefits and Retirement and Income Solutions businesses, with Group Benefits adjusted earnings up 7% year-to-date.

Latin America Segment Performance

Adjusted earnings in Latin America rose 9% year-over-year, with sales and adjusted PFOs growing double digits on a constant currency basis.

Capital Return to Shareholders

Close to $1 billion returned to shareholders via common stock dividends and share repurchase in the third quarter, bringing total share repurchase to $2.8 billion year-to-date.

Direct Expense Ratio Improvement

MetLife's third quarter direct expense ratio improved to 11.7%, below the 12.3% annual target.

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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
Jan 29, 2025	2024 (Q4)	2.20 / -	1.83	―	―	―
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)
Nov 02, 2022	2022 (Q3)	1.18 / 1.21	2.39	-49.37% (-1.18)

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
Oct 30, 2024	$82.60	$77.88	-5.71%
Jul 31, 2024	$75.70	$74.65	-1.39%
May 01, 2024	$70.26	$68.66	-2.28%
Jan 31, 2024	$67.22	$63.38	-5.71%

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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