MetLife 3Q26: record adjusted EPS, growth in all six segments
MetLife's third quarter looks strong where it matters: adjusted earnings of $1.78 billion, or $2.78 a share, with growth in all six segments and $1 billion returned to shareholders. The read-across is simple — adjusted numbers describe the business, while GAAP net income of $2.35 billion was lifted by derivative swings. Below: revenue, EPS, guidance and the balance sheet, in that order.
1 · Expected vs. Actual
Free preview belowAdjusted EPS of $2.78 landed about 2 cents under the $2.801 consensus, but that figure carries a $46 million hit from the annual actuarial review; excluding notable items it was $2.85, roughly 5 cents ahead. GAAP EPS of $3.67 is a different animal, helped by $698 million of net derivative gains after a $929 million loss a year earlier. The operating quarter was a modest beat; the eye-catching headline was an accounting swing.
Total revenues were $20.52 billion, up from $17.36 billion a year earlier, and premiums, fees and other revenues reached $14.06 billion, up 12.0%. Strip out pension risk transfer and adjusted PFOs still grew 8.0% to $13.53 billion, with every one of the six segments moving up. Ignore the $0.73 billion revenue figure sitting in the data feed for this filing — the press-release table and the segment totals both say otherwise.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-06
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