Breaking News
FONT-SIZE Plus   Neg
Share SHARE

MetLife Slips To Loss In Q1 - Update

RELATED NEWS
Trade MET now with 

Insurance provider MetLife, Inc. (MET: Quote) reported Friday a loss for the first quarter, reflecting higher operating expenses and higher net derivative losses, despite an increase in premiums revenues.

Announcing preliminary results for the first quarter, the company said its net loss available to common shareholders was $94 million or $0.09 per share, compared to a net profit of $701 million or $0.66 per share a year ago.

Operating earnings per share rose to $1.37 from $1.23 per share in the same quarter a year earlier. The company said it has revised certain amounts in the prior periods.

On average, 20 analysts polled by Thomson Reuters expected the company to report earnings of $1.25 per share for the quarter. Analysts' estimates typically exclude special items.

The New York-based company's total operating revenues grew to $16.69 billion from $15.62 billion in the prior-year quarter. Analysts estimated revenues of $16.72 billion.

Premiums, fees and other revenues increased to $11.61 billion from $10.83 billion in the preceding year. Revenues from premiums were $9.11 billion, up from $8.53 billion a year earlier.

Net derivative losses for the quarter widened to $1.98 billions from $317 millions last year. Total operating expenses increased to $14.6 billion from $13.7 billion in the previous year.

The company said it will announce final results for the first quarter on April 26. MetLife also announced today that it is rescheduling its first quarter 2012 earnings conference call and audio Webcast from Thursday, May 3, 2012 to Friday, April 27, 2012 from 8:00 to 9:00 a.m. (ET).

MET closed Thursday's regular trading at $35.38 on the NYSE. In the pre-market activity, the shares are up 1.75 percent.

Register
To receive FREE breaking news email alerts for MetLife Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Swiss drug maker Roche Holding said a late-stage trial of its breast cancer drug Kadcyla did not provide superior results compared with an existing therapy. FCA US, until recently known as Chrysler, said Friday it is recalling 257,000 Dodge Ram pickups. The auto maker says the rear axle pinion nut on certain model year 2005 Dodge Ram 1500 trucks may loosen due to an undersized spline on the pinion gear. If the pinion nut loosens, the rear axle may... This medical device company has a very impressive track record of growing business over the past decade. increasing sales from $490.2 million in 2004 to $1.72 billion this year. The Silicone Hydrogel daily disposable lens portfolio constitutes a major avenue for growth.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.