MetLife Inc. Earnings: Swing to a Loss After Two Straight Profit Quarters
S&P 500 (NYSE:SPY) component MetLife Inc. (NYSE:MET) swung to a loss in the first quarter, missing analysts’ forecast. MetLife provides individual insurance, employee benefits, and financial services.
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MetLife Earnings Cheat Sheet for the First Quarter
Results: Reported a loss of $174 million (16 cents per diluted share) in the quarter. The insurance-multiline had net income of $701 million or 66 cents per share in the year-earlier quarter.
Revenue: Revenue was $16.7 billion last quarter.
Actual vs. Wall St. Expectations: On an operating basis, MetLife Inc. reported earnings of $1.37 per share. By that measure, it beat the mean analyst estimate of $1.31 per share.
In the fourth quarter of the last fiscal year, MetLife Inc. topped the mark by 7 cents, and in the third quarter of the last fiscal year, it was ahead by 3 cents.
Looking Forward: Expectations for the company’s next-quarter performance are more favorable than they were a month ago. The average estimate for the second quarter is now at $1.25 per share, up from $1.25. The average estimate for the fiscal year is $5.12 per share, a rise from $5.06 ninety days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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