- MetLife (NYSE:MET) Q1 earnings and revenue exceed the consensus estimates as increased earning from its U.S. and Asian businesses offset declines from its EMEA and Latin America regions.
- "We believe the worst impact of the pandemic on our business performance is behind us," said CEO Michael Khalaf.
- Q1 adjusted EPS, excluding notable items, of $2.20 vs. average analyst estimate of $1.52; compares with $2.03 in Q4 2020 and $1.58 in Q1 2020.
- Q1 total adjusted revenue of $16.7B vs. consensus of $16.0B; vs. $20.6B in Q4 and $15.5B in the year-ago quarter.
- Q1 adjusted premium, fees, and other revenue of $11.4B, up 2% Y/Y.
- Q1 adjusted net investment income of $5.31, up 74% Y/Y, driven by higher variable investment income due to higher private equity returns.
- Book value, excluding accumulated other comprehensive income other than foreign currency translation adjustments, of $53.16 per share, vs. $54.18 at Dec. 31, 2020.
- Q1 total expenses of $15.3B, up from $12.7B a year ago.
- Q1 adjusted ROE, excluding total notable items and AOCI other than FCTA, of 16.5% vs. 15.2% in Q4 and 12.6% in Q1 2020.
- Conference call on May 6 at 9:00 AM ET.
- Earlier, MetLife EPS beats by $0.68, beats on revenue