earnings
confidence high
sentiment positive
materiality 0.80
MetLife Q4 adj. EPS $1.93 beats $1.59; FY adj. EPS $7.33, up 4%; net income down 71%
METLIFE INC
2023-FY EPS reported
$1.81
revenue$66,905,000,000
- FY 2023 net income $1.4B ($1.81 EPS), down 71% from FY22; Q4 net income $574M ($0.77 EPS), down 63% YoY.
- FY adjusted earnings $5.5B ($7.25 EPS); Q4 adjusted earnings $1.4B ($1.83 EPS) vs $1.3B ($1.59 EPS).
- FY adjusted earnings ex. notable items $5.6B ($7.33 EPS), up 4% per share; Q4 $1.4B ($1.93 EPS), up 21%.
- Holding company cash $5.2B above $3-4B target; FY23 share repurchases $3.1B; ~$0.5B repurchased in Jan 2024.
- FY24 outlook: VII ~$1.5B; direct expense ratio target lowered to 12.3% from 12.6%; adj. ROE target 13-15%.