MetLife Earnings Cheat Sheet: Record Quarterly Revenue Performance
S&P 500 (NYSE:SPY) component MetLife, Inc. (NYSE:MET) reported its results for the first quarter. MetLife, Inc. provides individual insurance, employee benefits and financial services throughout the United States and the regions of Latin America, Europe, and Asia Pacific.
MetLife Earnings Cheat Sheet for the First Quarter
Results: Net income for the life insurance company fell to $830 million (78 cents/share) vs. $835 million (97 cents/share) a year earlier. A decline of 0.6% from the year earlier quarter.
Revenue: Revenue was $15.91 billion last quarter.
Actual vs. Wall St. Expectations: MET fell short of the mean analyst estimate of $1.26/share. Estimates ranged from $1.22 per share to $1.35 per share.
Quoting Management: “With record top-line performance and a 64% increase in operating earnings over the first quarter of 2010, MetLife delivered very strong results in the first quarter of 2011,” said Steven A. Kandarian, who became president & chief executive officer of MetLife, Inc. on May 1, 2011.
Competitors to Watch: Prudential Financial, Inc. (NYSE:PRU), CNO Financial Group, Inc. (NYSE:CNO), Torchmark Corporation (NYSE:TMK), StanCorp Financial Group, Inc. (NYSE:SFG), Lincoln National Corp. (NYSE:LNC), Hartford Financial Services (NYSE:HIG), Traveler’s (NYSE:TRV) Prudential Public Ltd. Co. (NYSE:PUK), Kansas City Life Insurance Co (NASDAQ:KCLI), Presidential Life Corp (NASDAQ:PLFE), American International Group (NYSE:AIG) and Independence Holding Co. (NYSE:IHC)
Stock Performance: Shares of MET are trading at $46 as of May 4, 2011 at 5:10 PM ET, down 0.33% from the previous closing price of $46.43.