Summary
MetLife Inc.'s Q3 2014 filing (as of September 30, 2014) shows a solid increase in net income attributable to common shareholders, reaching $2.064 billion, up significantly from $942 million in the same period of the prior year. This growth was largely driven by a favorable swing in net derivative gains (losses), which moved from a loss of $546 million to a gain of $478 million, and a substantial increase in income from continuing operations before taxes, climbing to $2.952 billion from $976 million year-over-year. The company's total assets grew to $908.6 billion, reflecting an increase in investments, particularly fixed maturity securities available-for-sale. Key operating segments, including Americas (Retail, Group, Voluntary & Worksite Benefits, Corporate Benefit Funding, Latin America), Asia, and EMEA, all contributed to profitability. However, specific product sales showed mixed performance, with declines in variable annuity and certain Japan-based products due to pricing discipline, while other areas like group benefits and Latin America showed growth. The company continues to manage its investment portfolio strategically amidst a low interest rate environment and is navigating evolving regulatory landscapes globally, including potential designations as a non-bank SIFI.
Financial Highlights
36 data points| Revenue | $18.85B |
| Operating Expenses | $4.22B |
| Operating Income | $4.70B |
| Net Income | $2.09B |
| EPS (Basic) | $1.83 |
| EPS (Diluted) | $1.81 |
| Shares Outstanding (Basic) | 1.13B |
| Shares Outstanding (Diluted) | 1.14B |
Key Highlights
- 1Net income available to common shareholders significantly increased to $2.064 billion for the three months ended September 30, 2014, compared to $942 million in the prior year period.
- 2Total assets grew to $908.6 billion, up from $885.3 billion at the end of 2013, primarily driven by an increase in total investments.
- 3The company reported a substantial positive swing in net derivative gains (losses), moving from a loss of $546 million in Q3 2013 to a gain of $478 million in Q3 2014.
- 4Operating earnings available to common shareholders increased to $1.825 billion for the three months ended September 30, 2014, up from $1.495 billion in the prior year period.
- 5MetLife Inc. repurchased approximately 8.2 million shares of common stock for $443 million during the first nine months of 2014, under its common stock repurchase program.
- 6The company reported strong performance in its Latin America segment, with operating earnings increasing by $19 million year-over-year for the third quarter.
- 7MetLife Inc. received regulatory approval to merge three U.S.-based life insurance companies and a former offshore reinsurance subsidiary, expected to occur in Q4 2014.