MetLife reported strong fourth quarter and full-year results, driven by diversified business strength and disciplined execution of its New Frontier strategy. The company achieved significant growth in adjusted earnings per share and returned substantial capital to shareholders, positioning it for continued responsible growth.
Full year adjusted earnings per share (EPS) increased 10% to $8.89.
positiveFourth quarter adjusted earnings per share (EPS), excluding notable items, increased 24% to $2.58.
positivePremiums, fees and other revenues (PFOs) increased 10% to $57.6 billion for the full year.
positiveAdjusted PFOs, excluding pension risk transfers (PRT), were up 5% to $49.8 billion for the full year.
positiveReturned nearly $4.4 billion to shareholders in the full year.
positiveBook value per share (BVPS) up 14% to $39.02.
positiveMetLife Investment Management (MIM) adjusted earnings increased 275% in Q4.
positiveGroup Benefits adjusted earnings up 12% in Q4.
positiveRetirement and Income Solutions (RIS) adjusted earnings up 18% in Q4.
positiveEMEA adjusted earnings up 64% in Q4.
positiveNet income decreased 37% to $778 million in Q4, primarily driven by net derivative losses and net investment losses.
negativeNet income per share decreased 34% to $1.17 in Q4.
negativeFull year net income was $3.2 billion, a decrease of 25% from $4.2 billion in the prior year.
negativeFull year net income per share was $4.71, a decrease of 21% from $5.94 in the prior year.
negativeLatin America adjusted earnings decreased 1% on a reported basis and 9% on a constant currency basis in Q4.
negativeCorporate & Other adjusted loss increased to $70 million in Q4 from $62 million in the prior year.
negativeMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total | CC |
|---|---|---|---|---|---|
Group Benefits | N/A | — | — | — | — |
Retirement and Income Solutions (RIS) | N/A | — | — | — | — |
Asia | N/A | — | — | — | +1.0% |
Latin America | N/A | — | — | — | -9.0% |
Europe, the Middle East and Africa (EMEA) | N/A | — | — | — | +64.0% |
MetLife Investment Management (MIM) | N/A | — | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% | — |
Segment performance shows business unit health and growth drivers. Constant currency (CC) removes FX impact for like-for-like comparison.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
MetLife delivered record fourth quarter results, underscoring the strength of our diversified businesses and the disciplined execution of our all-weather New Frontier strategy.
For the full year, we achieved 10% adjusted earnings per share growth, 16% adjusted return on equity, and beat our direct expense and free cash flow ratio targets, while returning nearly $4.4 billion to shareholders.
We made significant progress in advancing our New Frontier priorities, completing key strategic transactions and entering new partnerships to extend our market leadership, expand our global reach, and enhance capital flexibility.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.