MetLife and Equitable Holdings Report Q3 Earnings, Missing Expectations
What happened
MetLife reported revenues of $19.08 billion, representing a 6.4% year-on-year increase, but missed analysts’ expectations and significantly missed book value per share estimates last quarter. Equitable Holdings delivered 3.9% year-on-year revenue growth, which was 1.8% below analyst expectations. The report also noted that CNO Financial Group reported revenues up 4.5%, falling short of estimates by 15.2%.
From financialcontent.com
Why it matters
Both MetLife and Equitable Holdings operate in the life insurance segment. MetLife has missed revenue estimates multiple times over the last two years, and the performance of both companies, alongside peers, suggests segment weakness. Investors have shown positive sentiment in the life insurance segment despite the recent misses.
MetLife and Equitable Holdings were recently subjected to a financial comparison.
From financialcontent.com
Who's involved
- Equitable HoldingsU.S. financial services company operating in the life insurance segment
- MetLifeAmerican insurance holding company operating in the life insurance segment
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Equitable HoldingsSpeculative
The peer comparison to MetLife's revenue miss could affect Equitable Holdings' competitive standing and demand for services.
- MetLifeSpeculative
MetLife's failure to meet revenue and book value expectations could lead to a negative impact on its core business.
- TD CowenSpeculative
A negative earnings signal from MetLife might prompt TD Cowen to adjust its financial analysis and ratings.
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The entities involved
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Equitable Holdings
U.S. financial services company
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MetLife
American insurance holding company
Nothing else this week.