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MetLife Announces 3Q 2026 Results
Nov 04, 2026
MetLife Announces 3Q 2026 Results
Record company performance, and top-line growth in every business segment.
- 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, the 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.
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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. |
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