MetLife Q3 net income plunges 78% to $331M on negative variable investment income

METLIFE INC

2022-Q3 EPS reported $1.28 revenue$53,582,000,000

Net income $331M ($0.41 EPS) vs $1.5B ($1.77) YoY; adjusted earnings $966M ($1.21) vs $2.1B ($2.39).
Variable investment income post-tax negative $42M vs positive $1.4B a year ago, driven by negative private equity returns.
Book value per share $27.00, down 65% YoY; book value ex-AOCI $54.37, down 5%.
Holding company cash $5.2B above $3-4B target; $0.7B share repurchases in Q3, $0.2B in October.
Direct expense ratio 12.3% in line with target; Group Benefits adjusted earnings rose to $399M (from $111M) on improved underwriting, while Asia fell to $174M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.8

METLIFE INC reported financial results for Third Quarter 2022.

Period: Third Quarter 2022
Result: reported results

Exact text from the filing

On November 2, 2022, MetLife, Inc. issued (i) a news release announcing its results for the quarter ended September 30, 2022 (the “Earnings Release”), a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference

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METLIFE INC filing history →

Source: SEC EDGAR

accession 0001099219-22-000172

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