Jun 2026 (Q2 FY26) — Aug 6, 2026
MetLife Q2 FY26 — Strong Earnings Growth and Capital Returns
Read the full callMetLife (MET) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
MetLife earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 19,154 | +10.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 8.4 | +0.3 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 736 | +1.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
24 of 27 judged targets kept · 42 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Japan economic solvency ratio (ESR) | 170% to 190% | Sep 2025 | Finally, in Japan, we now expect our initial economic solvency ratio or ESR to be at the top end of a 170% to 190% range for the fiscal year ended March 31, 2026, up from our prior expectation of middle of the range. | Achieved |
| RIS total general account investment spread | 100 to 120 basis points | Dec 2025 | Total investment spread was 97 basis points in the second quarter, below our guidance range of 100 to 120 basis points, driven by weaker private equity returns within VII. | At Risk |
| Adjusted EPS growth (New Frontier 5-year commitment) | double-digit annual growth over the 2025-2029 New Frontier period | Dec 2024 | Adjusted EPS grew 20%, while adjusted ROE reached 17% at the top end of our 15% to 17% target range. | On Track |
3 of METLIFE INC's 69 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 66 more targets are in the full ledger.
Claimed
- Adjusted earnings increased 15% year-over-year to $1.6 billion, with adjusted EPS up 20% to $2.43.
- Adjusted return on equity (ROE) reached 17%, hitting the top end of the 15% to 17% annual target range.
- Direct expense ratio was 12.1%, in line with the full-year target, despite a ~50 basis point impact from the PineBridge acquisition.
- Sales rose 7% year-over-year, driven by strong growth across international businesses.
- A new $3 billion share repurchase authorization was announced, reflecting confidence in capital generation.
Qualified
- RIS total investment spread was 97 basis points, below the guidance range of 100 to 120 basis points, primarily due to weaker private equity returns.
- Corporate & Other reported an adjusted loss of $160 million, compared to a loss of $142 million a year ago.
- MetLife Investment Management (MIM) adjusted earnings are expected to be towards the low end of its $240 million to $280 million full-year guidance range.
Price
$99.58 −1.17% · −$1.18
Performance +26.9% 1Y
1Y: $78.46 on 17 Oct 2025 → $99.58. High $100.76 (16 Oct 2026), low $67.7 (27 Mar 2026).
- Previous close
- $100.76
- 52-week range
- $67.7 – $100.76
- One year
- +26.47%
Overview
- Symbol
- MET
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
24 of 27 judged targets kept · 42 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Japan economic solvency ratio (ESR) | 170% to 190% | Sep 2025 | Finally, in Japan, we now expect our initial economic solvency ratio or ESR to be at the top end of a 170% to 190% range for the fiscal year ended March 31, 2026, up from our prior expectation of middle of the range. | Achieved |
| RIS total general account investment spread | 100 to 120 basis points | Dec 2025 | Total investment spread was 97 basis points in the second quarter, below our guidance range of 100 to 120 basis points, driven by weaker private equity returns within VII. | At Risk |
| Adjusted EPS growth (New Frontier 5-year commitment) | double-digit annual growth over the 2025-2029 New Frontier period | Dec 2024 | Adjusted EPS grew 20%, while adjusted ROE reached 17% at the top end of our 15% to 17% target range. | On Track |
Claimed
- Adjusted earnings increased 15% year-over-year to $1.6 billion, with adjusted EPS up 20% to $2.43.
- Adjusted return on equity (ROE) reached 17%, hitting the top end of the 15% to 17% annual target range.
- Direct expense ratio was 12.1%, in line with the full-year target, despite a ~50 basis point impact from the PineBridge acquisition.
- Sales rose 7% year-over-year, driven by strong growth across international businesses.
- A new $3 billion share repurchase authorization was announced, reflecting confidence in capital generation.
Qualified
- RIS total investment spread was 97 basis points, below the guidance range of 100 to 120 basis points, primarily due to weaker private equity returns.
- Corporate & Other reported an adjusted loss of $160 million, compared to a loss of $142 million a year ago.
- MetLife Investment Management (MIM) adjusted earnings are expected to be towards the low end of its $240 million to $280 million full-year guidance range.
The full ledger
Open METLIFE INC’s full ledger
A free account opens 5 company ledgers a month. All 69 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
MetLife, Inc. Q1 FY26 — Adjusted EPS up 23%, ROE at 17%
Read the full callDec 2025 (Q4 FY25) — Feb 5, 2026
MetLife Q4 FY25 — Strong Performance and Strategic Execution Drive Growth
Read the full callEvery analysed call
MetLife earnings calls (MET)
Financials
What the filings say
Net profit, year on year: +1% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 18,440 | 18,666 | 18,569 | 17,340 | 17,361 | 23,814 | 19,074 | 19,154 |
| Operating profit | 1,442 | 1,491 | 1,415 | 1,393 | 1,650 | 1,679 | 1,631 | 1,604 |
| Operating margin | 7.8% | 8.0% | 7.6% | 8.0% | 9.5% | 7.0% | 8.6% | 8.4% |
| Profit before tax | 1,994 | 1,381 | 1,354 | 980 | 1,210 | 1,117 | 1,507 | 1,035 |
| Tax rate | 32.8% | 7.7% | 29.8% | 25.0% | 25.4% | 26.9% | 22.9% | 24.7% |
| Net profit | 1,342 | 1,271 | 945 | 729 | 896 | 809 | 1,185 | 736 |
| EPS ($ per share) | 1.82 | — | 1.29 | 1.04 | 1.23 | — | 1.75 | 1.10 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 28,926 | 33,078 | 36,491 | 41,197 | 40,332 | 40,146 | 42,626 | 44,290 |
| Total liabilities | 634,580 | 674,081 | 720,329 | 691,959 | 632,947 | 657,331 | 649,754 | 716,245 |
| Investments | 3,937 | 3,850 | 3,904 | 7,176 | 4,935 | 6,045 | 5,156 | 3,601 |
| Total assets | 687,538 | 740,463 | 795,146 | 759,708 | 663,072 | 687,584 | 677,457 | 745,166 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 11,738 | 13,786 | 11,639 | 12,347 | 13,044 | 13,721 | 14,598 | 17,092 |
| Cash from investing | -5,634 | -17,586 | -18,569 | -11,187 | -2,620 | -10,246 | -11,493 | -15,607 |
| Cash from financing | -2,801 | 4,568 | 10,729 | -1,126 | -9,948 | -2,940 | -3,131 | 163 |
| Net cash flow | 3,120 | 777 | 3,962 | -444 | 79 | 444 | -571 | 1,964 |
MET revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Group Benefits | 35% | 35% | 36% | 39% | 38% | 28% | 36% | 36% | +1.7% |
| Retirement and Income Solutions | 20% | 31% | 25% | 20% | 19% | 40% | 24% | 21% | +13.9% |
| Asia | 15% | 15% | 16% | 17% | 18% | 13% | 17% | 16% | +5.6% |
| Latin America | 10% | 10% | 10% | 12% | 12% | 9% | 12% | 13% | +19.6% |
| EMEA | 4% | 4% | 4% | 5% | 5% | 4% | 5% | 5% | +11.9% |
| Met Life Investment Management | — | — | — | — | — | — | 2% | 2% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
MET operating KPIs by quarter
| KPI | Sep 2025 Q3 FY25 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Assets under management (AUM) | $630B+I think we're just above on total assets under management of just over $630 billion of AUM, above $200 billion on third-party assets.Source: earnings call transcript | ~$748BOther revenues increased 34% and total assets under management reached approximately $748 billion.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
113 filings between Oct 31, 2025 and Oct 1, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$1.74M
1 sale by 1 insider
Compensation
not trading decisions- 92
- Award — granted as compensation
- 2
- Option exercise — converted options into shares
- 18
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| DEBEL MARLENE | — | $1.74M | Jun 1, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 1, 2026 | Seitz Michelle Director | Award | 544 | $0 |
| Oct 1, 2026 | WEINBERGER MARK A Director | Award | 544 | $0 |
| Oct 1, 2026 | MCKENZIE DIANA Director | Award | 544 | $51.3K |
| Oct 1, 2026 | Kennard William E Director | Award | 544 | $51.3K |
| Oct 1, 2026 | Hay Laura J Director | Award | 544 | $51.3K |
| Oct 1, 2026 | HUBBARD ROBERT GLENN Director | Award | 941 | $88.8K |
| Oct 1, 2026 | Mumenthaler Christian Stephane Director | Award | 544 | $51.3K |
| Oct 1, 2026 | Johnson Jeh C. Director | Award | 544 | $51.3K |
| Oct 1, 2026 | Glaser Daniel S Director | Award | 544 | $51.3K |
| Oct 1, 2026 | Harris Carla A Director | Award | 544 | $51.3K |
| Sep 8, 2026 | Harris Carla A Director | Award | 42 | $4.0K |
| Sep 8, 2026 | Kennard William E Director | Award | 294 | $28.1K |
| Sep 8, 2026 | Hay Laura J Director | Award | 39 | $3.7K |
| Sep 8, 2026 | Mumenthaler Christian Stephane Director | Award | 21 | $2.0K |
| Sep 8, 2026 | MCKENZIE DIANA Director | Award | 157 | $15.0K |
| Sep 8, 2026 | TADROS RAMY President, U.S. Business | Award | 115 | $11.0K |
| Sep 8, 2026 | HUBBARD ROBERT GLENN Director | Award | 618 | $59.0K |
| Sep 8, 2026 | Glaser Daniel S Director | Award | 10 | $955 |
| Sep 8, 2026 | Johnson Jeh C. Director | Award | 59 | $5.6K |
| Aug 31, 2026 | PAPPAS BILL EVP, Global Tech. & Ops. | Tax withheld | 4,030 | $383.5K |
| Aug 31, 2026 | McCallion John D. EVP & Chief Financial Officer | Tax withheld | 6,057 | $576.4K |
| Aug 31, 2026 | TADROS RAMY President, U.S. Business | Tax withheld | 4,366 | $415.5K |
| Aug 31, 2026 | DEBEL MARLENE EVP & Chief Risk Officer | Tax withheld | 4,030 | $383.5K |
| Jun 16, 2026 | WEINBERGER MARK A Director | Award | 587 | $0 |
| Jun 16, 2026 | Glaser Daniel S Director | Award | 587 | $51.3K |
| Jun 16, 2026 | MCKENZIE DIANA Director | Award | 587 | $51.3K |
| Jun 16, 2026 | Johnson Jeh C. Director | Award | 587 | $51.3K |
| Jun 16, 2026 | HUBBARD ROBERT GLENN Director | Award | 1,016 | $88.8K |
| Jun 16, 2026 | Mumenthaler Christian Stephane Director | Award | 587 | $51.3K |
| Jun 16, 2026 | Hay Laura J Director | Award | 587 | $51.3K |
| Jun 16, 2026 | Harris Carla A Director | Award | 587 | $51.3K |
| Jun 16, 2026 | Kennard William E Director | Award | 587 | $51.3K |
| Jun 16, 2026 | Seitz Michelle Director | Award | 587 | $0 |
| Jun 9, 2026 | Johnson Jeh C. Director | Award | 61 | $5.2K |
| Jun 9, 2026 | Harris Carla A Director | Award | 42 | $3.6K |
| Jun 9, 2026 | Glaser Daniel S Director | Award | 7 | $599 |
| Jun 9, 2026 | HUBBARD ROBERT GLENN Director | Award | 678 | $58.0K |
| Jun 9, 2026 | Kennard William E Director | Award | 322 | $27.6K |
| Jun 9, 2026 | TADROS RAMY President, U.S. Business | Award | 127 | $10.9K |
| Jun 9, 2026 | Mumenthaler Christian Stephane Director | Award | 20 | $1.7K |
| Jun 9, 2026 | Hay Laura J Director | Award | 39 | $3.3K |
| Jun 9, 2026 | MCKENZIE DIANA Director | Award | 169 | $14.5K |
| Jun 1, 2026 | DEBEL MARLENE EVP & Chief Risk Officer | Sale | 21,312 | $1.74M |
| Jun 1, 2026 | DEBEL MARLENE EVP & Chief Risk Officer | Option exercise | 10,712 | $487.4K |
| Jun 1, 2026 | DEBEL MARLENE EVP & Chief Risk Officer | Option exercise | 10,600 | $496.6K |
| Apr 30, 2026 | O'Neill Adrienne Karen EVP & Chief Accounting Officer | Award | 12,485 | — |
| Apr 1, 2026 | MCKENZIE DIANA Director | Award | 721 | $51.3K |
| Apr 1, 2026 | Johnson Jeh C. Director | Award | 721 | $51.3K |
| Apr 1, 2026 | Harris Carla A Director | Award | 721 | $51.3K |
| Apr 1, 2026 | Glaser Daniel S Director | Award | 721 | $51.3K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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