MetLife Q3 adjusted EPS $1.95, down 1% YoY; net income surges to $1.3B on derivative gains

METLIFE INC

2024-Q3 EPS reported $4.17 revenue$52,320,000,000

Net income $1.275B ($1.81 per share) vs $422M ($0.56) in Q3'23, up 202% on higher net derivative gains.
Adjusted earnings $1.375B ($1.95 per share) vs $1.488B ($1.97) in Q3'23, down 8% (1% per share) on lower variable investment income.
Variable investment income fell to $128M post-tax from $141M in Q3'23, below $375M quarterly target range.
Book value $39.02 per share up 33% YoY; book value ex-AOCI other than FCTA $54.72, up 3%.
Holding company cash $4.5B above $3-4B target; share repurchases ~$0.8B in Q3, with ~$130M shares bought in Oct 2024.

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