AI Earnings Predictions for MetLife Inc. (MET)

EX-99.1

2 ex991earningsreleasetables.htm

EX-99.1

EX 99.1 Earnings Release & Tables

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Exhibit 99.1

For Immediate Release | Global Communications | MetLife, Inc.

MetLife Announces 3Q 2026 Results

Record company performance, and top-line growth in every business segment.

Earnings

Per Share

3Q 2026

Net

Income            $3.67

Adjusted

Earnings          $2.78

Return

on Equity (ROE)

3Q 2026

ROE              42.7%

Adjusted

ROE              19.2%

•Net income increased 187%1 to $2.4 billion, or

$3.67 per share.

•Adjusted earnings increased 12% to $1.8 billion,

driven by higher variable investment income,

broad-based volume growth and favorable

underwriting.

•Adjusted earnings per share up 22% to $2.85,

excluding total notable items — highest-ever

quarter for MetLife.

•Adjusted return on equity of 19.6%, excluding

total notable items.

•Premiums, fees and other revenues (PFOs)

increased 12% to $14.1 billion.

•Adjusted PFOs, excluding pension risk transfers

(PRT), increased 8% to $13.5 billion — with

growth in all six business segments.

•Book value per share (BVPS) down 22% to

$30.73. Adjusted BVPS up 5% to $59.41.

•Returned approximately $1 billion to shareholders

via share repurchases and common stock

dividends.

•Holding company cash and liquid assets totaled

$3.4 billion at quarter end, within our target range.

•On track to deliver against free cash flow ratio and

direct expense ratio2 targets for the year.

Comment from Michel Khalaf, President

and Chief Executive Officer:

We delivered the highest quarterly

adjusted earnings per share in MetLife’s

history in the third quarter, demonstrating

the strength of our New Frontier strategy

and discipline of our execution.

Revenue rose in every business segment,

and solid underwriting, volume growth and

higher investment returns lifted earnings.

We’re turning that into strong free cash

flow, reinvesting for responsible growth

and returning capital to shareholders.

We are firing on all cylinders in year two of

New Frontier, and we remain confident in

our strategy and its ability to drive

repeatable results.

1In this news release, all comparisons of results for the third quarter of 2026 are with the third quarter of 2025, unless

otherwise noted. All year-to-date comparisons are to the first three quarters of 2025.  2Direct expense ratio, excluding

total notable items related to direct expenses and PRT.

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Third Quarter 2026 Summary

($ in millions, except per share data)

Three Months Ended

September 30,

2026

2025

Change

Premiums, fees and other revenues

$14,056

$12,526

12%

Net investment income

6,198

6,089

2%

Net investment gains (losses)

(430)

(325)

Net derivative gains (losses)

698

(929)

Total revenues

$20,522

$17,361

Adjusted premiums, fees and other revenues

$13,919

$12,461

12%

Adjusted premiums, fees and other revenues, excluding pension risk

transfers (PRT)

$13,525

$12,471

8%

Market risk benefit remeasurement gains (losses)

$320

$263

22%

Net income (loss)

$2,351

$818

187%

Net income (loss) per share

$3.67

$1.22

201%

Adjusted earnings

$1,780

$1,584

12%

Adjusted earnings per share

$2.78

$2.37

17%

Adjusted earnings, excluding total notable items

$1,826

$1,566

17%

Adjusted earnings, excluding total notable items per share

$2.85

$2.34

22%

Book value per share

$30.73

$39.52

(22)%

Adjusted book value per share

$59.41

$56.57

5%

Expense ratio

21.3%

21.7%

Direct expense ratio, excluding total notable items related to direct

expenses and PRT

11.9%

11.6%

Adjusted expense ratio, excluding total notable items related to

adjusted other expenses and PRT

20.2%

19.8%

ROE

42.7%

13.1%

Adjusted ROE

19.2%

16.9%

Adjusted ROE, excluding total notable items

19.6%

16.7%

Information regarding the non-GAAP and other financial measures included in this news release

and reconciliation of the non-GAAP financial measures to GAAP measures are in “Non-GAAP

and Other Financial Disclosures” below and in the tables that accompany this news release.

Supplemental slides for the third quarter of 2026, titled “3Q26 Earnings Call Presentation,” are

available on the MetLife Investor Relations website at https://investor.metlife.com and in the

Form 8-K furnished by MetLife to the U.S. Securities and Exchange Commission in connection

with this earnings release. Supplemental information about MetLife's diversified global

investment portfolio is contained in the "3Q26 - General Account Assets Under Management

Fact Sheet," available on the above-mentioned website.

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Total Company Discussion

Premiums, fees and other revenues were $14.1 billion, up 12 percent compared with the

prior-year quarter. Adjusted premiums, fees and other revenues, excluding PRT, were

$13.5 billion, up 8 percent.

Net investment income was $6.2 billion, up 2 percent, due to higher variable investment

income (VII) and asset growth, partially offse