MetLife Q2 adjusted profit beats estimates on favorable underwriting, broad-based volume growth
MET•Overview
- US insurance and employee benefits provider's Q2 revenue rose compared to last year
- Adjusted EPS for Q2 rose 20% and beat analyst expectations
- Company returned over $1.1 bln to shareholders via share repurchases and dividends
Outlook
- Company did not provide specific guidance for the current or future periods
Key Details
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Revenue | Miss | $19.15 bln | $19.71 bln (7 Analysts) |
| Q2 Adjusted EPS | Beat | $2.43 | $2.29 (15 Analysts) |
| Q2 EPS | $1.09 | ||
| Q2 Adjusted Net Income | $1.57 bln | ||
| Q2 Net Income | $705 mln |
Result Drivers
- Underwriting & volume growth - Co said adjusted earnings growth was driven by favorable underwriting and broad-based volume growth across all segments
- Net investment income - Net investment income rose 18%, primarily due to increases in estimated fair value of certain securities that do not qualify as separate accounts under GAAP
