MetLife's net income increased to $800 mn in Q1 2024

MetLife, the largest American life insurer, reported its earnings for Q1 2024. The company achieved earnings per share of $1.83, exceeding the consensus estimate compiled by Bloomberg.

  • MetLife reported earnings per share of $1.83. This met the analyst estimate for EPS of $1.83.
  • The company reported revenue of $17.02 billion.
  • This was 3.97% worse than the analyst estimate for revenue of $17.72 billion.

MetLife announced a $3 billion share repurchase program, reflecting its strong financial position.

MetLife received favorable evaluations from analysts. They emphasized the strength of its institutional pension products portfolio as a key competitive advantage.

CEO Michel Khalaf noted that MetLife started 2024 with robust revenue growth and sustained momentum in its market-leading enterprise portfolio.

The company’s revenue was $17.02 billion, which fell short of the projected $17.72 billion.

In terms of financial performance, MetLife’s net income significantly increased to $800 million, compared to $14 million in the first quarter of the previous year, highlighting the company’s impressive year-over-year growth.

Nataly Kramer   by Nataly Kramer