Metlife Lower On Q4 Earnings Miss, Reports $2.1 Billion Net Loss

Metlife, Inc. (MET - Free Report) released its fourth quarter fiscal 2016 earnings results, posting earnings of $1.28 per share and revenue of $17.2 billion. 

MET was down 1.05% to $53.75 in after-hours trading shortly after its earnings report was released.

Currently, MET has a Zacks Rank #4 (Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Metlife:                                                  

Missed earnings estimates. The company posted earnings of $1.28 cents per share, missing our Zacks Consensus Estimate of $1.34 a share.

Missed revenue estimates. The company saw revenue figures of $17.2 billion, missed our estimate of $17.303 billion.

Metlife reported a net loss of $2.1 billion according to a GAAP basis. The net loss includes $3.2 billion after tax net derivative losses.

For the full year of 2016, Metlife’s earnings were $5.1 billion which is 7% down from the previous year.

“For full-year 2016 excluding notable items, market factors and underwriting reduced earnings while management actions to control expenses and generate volume growth were positive” said Metlife chairman, president and CEO Steven Kandarian.

Here’s a graph that looks at Metlife’s price, consensus and EPS surprise:

MetLife, Inc. Price, Consensus and EPS Surprise

Metlife Inc. provides insurance, annuities, employee benefits, and property & casualty insurance. Along with other financial services, Metlife runs their operations in the United States, Europe, Japan, Latin America, and Middle East. The New York headquartered company employs 66,000 individuals and went public in 2000. Metlife was founded 1868 and is one of the largest global providers of insurance.

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