- MetLife (NYSE:MET) Q4 adjusted EPS, excluding notable items, of $2.03 vs. average analyst estimate of $1.51; compares with $1.95 in Q3 and $1.53 in the year-ago quarter.
- MET stock gains 1.7% in after-hours trading.
- Q4 total adjusted revenue of $20.6B vs. consensus of $16.1B; compares with $16.5B in Q3 and $18.2B in the year-ago quarter.
- "By most key value metrics — adjusted earnings per share, adjusted return on equity, and book value per share — MetLife's fourth quarter results were above expectations, said President and CEO Michel Khalaf. "For the full year, in the face of an extremely challenging environment, we demonstrated resilience to low interest rates, exceptional expense discipline, and strong cash generation."
- Q4 adjusted premium, fees, and other revenue of $15.7B, up 15% Y/Y.
- Q4 adjusted net investment income of $4.9B rose 8% Y/Y, primarily driven by higher variable investment income due to higher private equity returns.
- Book value, excluding accumulated other comprehensive income other than foreign currency translation adjustments, of $54.18 per share vs. $53.10 at Sept. 30, 2020.
- Q4 total expenses of $19.3B rose 12% from $17.2B a year earlier.
- Q4 adjusted ROE, excluding total notable items and AOCI other than FCTA, of 15.2% vs. 13.2% in Q2 and 12.6% in Q4 2019.
- Conference call on Feb. 4 at 9:00 AM ET.
- Previously (Feb. 3): MetLife EPS beats by $0.52, beats on revenue