MetLife Inc. Earnings: Powering Ahead

S&P 500 (NYSE:SPY) component MetLife Inc. (NYSE:MET) reported net income above Wall Street’s expectations for the fourth quarter. MetLife provides individual insurance, employee benefits, and financial services.

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MetLife Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for MetLife Inc. rose to $1.16 billion ($1.06 per share) vs. $82 million (5 cents per share) in the same quarter a year earlier. This marks a substantial increase from the year earlier quarter.

Revenue: Revenue was $16.75 billion last quarter.

Actual vs. Wall St. Expectations: MetLife Inc. reported adjusted net income of $1.31 per share. By that measure, the company beat the mean estimate of $1.24 per share. Analysts were expecting revenue of $16.81 billion.

Quoting Management: “MetLife had a solid year and a strong fourth quarter, even in the face of some significant market pressures,” said Steven A. Kandarian, chairman, president and chief executive officer of MetLife, Inc. “We delivered higher earnings per share over 2010. Our capital position is strong and getting stronger. And our ability to grow operating earnings in the face of low interest rates remains intact. In short, we think we’re the best-positioned company in the life insurance sector to deliver shareholder value.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 3 cents in the third quarter, by 13 cents in the second quarter, and by 7 cents in the first quarter.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved down from $1.31 a share to $1.23 over the last ninety days. For the fiscal year, the average estimate has moved down from $4.97 a share to $4.91 over the last ninety days.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com