MetLife stock reaches record adjusted EPS after strong Q3
Published on 11/06/2026 at 13:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSRecord earnings reshape investor focus
- MetLife reported its highest quarterly adjusted earnings per share after excluding notable items.
- Premiums, fees and other revenues increased across all six business segments.
- Management maintained its confidence in the New Frontier strategy and continued capital returns.
MetLife reported its third-quarter 2026 results on Wednesday, November 4, after the U.S. market close. The insurer said adjusted earnings per share excluding total notable items rose 22 percent from a year earlier to 2.85 US dollars, the highest quarterly level in company history. MetLife attributed the performance to higher variable investment income, broad-based volume growth and favorable underwriting.
Broad-based growth lifts quarterly earnings
Net income increased 187 percent year over year to 2.4 billion US dollars, or 3.67 US dollars per share. Reported adjusted earnings rose 12 percent to 1.8 billion US dollars, while adjusted earnings per share including notable items reached 2.78 US dollars, up 17 percent.
The distinction between the adjusted figures matters for investors. MetLife said the quarter included 46 million US dollars of notable items, primarily related to its annual actuarial assumption review. Excluding those items, adjusted earnings rose 17 percent and adjusted earnings per share increased 22 percent to 2.85 US dollars. Adjusted return on equity reached 19.6 percent on the same basis, above the company's full-year target range of 15 to 17 percent.
Premiums, fees and other revenues increased 12 percent to 14.1 billion US dollars. Adjusted premiums, fees and other revenues excluding pension risk transfers grew 8 percent to 13.5 billion US dollars, with growth in all six business segments. The figures point to a broad operating contribution rather than reliance on one division.
Segment mix remains important
Group Benefits adjusted earnings increased 15 percent to 523 million US dollars, supported by favorable underwriting. Retirement and Income Solutions adjusted earnings fell 6 percent to 413 million US dollars on a reported basis, although earnings excluding notable items increased 12 percent to 478 million US dollars.
Asia adjusted earnings rose 11 percent to 602 million US dollars, or 14 percent on a constant-currency basis. Europe, the Middle East and Africa also expanded, while MetLife Investment Management benefited from business growth. The segment mix gives investors a counterweight to the quarter's headline result: underwriting, volume and investment income all contributed, but actuarial adjustments still affected reported comparisons.
Capital returns support the outlook
MetLife returned approximately 1 billion US dollars to shareholders through share repurchases and common stock dividends during the quarter. Book value per share declined 22 percent to 30.73 US dollars, while adjusted book value per share increased 5 percent to 59.41 US dollars. The contrasting measures underline the effect of market-sensitive items and the importance of using adjusted metrics alongside statutory results.
Chief Executive Officer Michel Khalaf said the record quarter demonstrated the strength of MetLife's New Frontier strategy and the discipline of its execution. He also said the company remained confident in the strategy's ability to deliver repeatable results. Reuters, carried by Investing.com, reported that adjusted earnings per share of 2.78 US dollars exceeded a 2.75 US dollar analyst estimate and that revenue of 20.52 billion US dollars topped a 19.91 billion US dollar consensus estimate.
MetLife stock traded at 89.63 euros on Lang & Schwarz at 13:29 CET on Friday, November 6, 2026.
Investors will next assess whether the company can sustain double-digit adjusted earnings growth, keep adjusted return on equity above its stated range and convert segment growth into recurring cash generation. The real-time quote of MetLife stock provides the current trading view.
U.S. equities remain the relevant market backdrop, with the S&P 500 setting the broader tone for financial stocks.
More news and analyses on MetLife stock
MetLife Inc. at a glance
- Company: MetLife Inc.
- ISIN: US59156R1086
- WKN: 934623
- Ticker: MET
- Home exchange: New York Stock Exchange
- Lang & Schwarz price: 89.63 euros, November 6, 2026, 13:29 CET
- Third-quarter adjusted EPS excluding notable items: 2.85 US dollars, 22 percent year over year
- Third-quarter adjusted return on equity excluding notable items: 19.6 percent
