---
schema_version: "secwatch.filing_event.v1"
accession: "0001099219-23-000156"
form_type: "8-K"
ticker: "MET"
cik: "0001099219"
company_name: "METLIFE INC"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T00:10:11.463316+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# MetLife Q1 net income plunges to $14M from $1.6B YoY; authorizes $3B buyback

## Summary
- Net income of $14M ($0.02/sh) vs $1.6B ($1.89) YoY; adjusted earnings $1.2B ($1.52).
- Book value per share fell 22% to $36.89; book value ex-AOCI up 2% to $53.83.
- Board approved new $3B common stock repurchase authorization.
- Holding company cash $4.2B above target $3-4B buffer.
- Variable investment income turned negative (-$35M post-tax) on lower venture/real estate.

## SEC filing metadata
- accession: 0001099219-23-000156
- form_type: 8-K
- ticker: MET
- cik: 0001099219
- company_name: METLIFE INC
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1099219/000109921923000156/0001099219-23-000156-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1099219/000109921923000156/met-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001099219-23-000156
- JSON: https://secwatch.observer/filing/0001099219-23-000156.json
- Plain text: https://secwatch.observer/filing/0001099219-23-000156.txt

## Key facts
- Earnings Releases
  METLIFE INC reported first quarter 2023 results: net income Adjusted earnings of $1.2 billion, or $1.52 per share, EPS Adjusted earnings per share $1.52.
  - Period: first quarter 2023
  - Net income: Adjusted earnings of $1.2 billion, or $1.52 per share
  - EPS: Adjusted earnings per share $1.52
  - Result: reported results
  source text: MetLife, Inc. (NYSE: MET) today announced its first quarter 2023 results. First Quarter Results Summary* • Net income of $14 million, or $0.02 per share, compared to net income of $1.6 billion, or $1.89 per share, in the first quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1099219/000109921923000156/0001099219-23-000156-index.htm
- Earnings Releases
  METLIFE INC reported first quarter 2023 results: net income Adjusted earnings of $1.2 billion, or $1.52 per share, EPS Adjusted earnings per share $1.52.
  - Period: first quarter 2023
  - Net income: Adjusted earnings of $1.2 billion, or $1.52 per share
  - EPS: Adjusted earnings per share $1.52
  - Result: reported results
  source text: • Adjusted earnings of $1.2 billion, or $1.52 per share, compared to adjusted earnings of $1.7 billion, or $2.04 per share, in the first quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1099219/000109921923000156/0001099219-23-000156-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.