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MetLife, Inc. (MET) Q4 2025 Earnings Call Transcript

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Q4: 2026-02-04 Earnings Summary

EPS of $2.49 beats by $0.15

 | Revenue of $24.19B (22.56% Y/Y) misses by $7.44B

MetLife, Inc. (MET) Q4 2025 Earnings Call February 5, 2026 9:00 AM EST

Company Participants

John Hall – Senior VP, Head of Investor Relations & Executive VP and Treasurer
Michel Khalaf – CEO, President & Director
John McCallion – Executive VP, CFO & Head of Investment Management
Ramy Tadros – Regional President of U.S. Business & Head of MetLife Holdings
Lyndon Oliver – Regional President of Asia

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Conference Call Participants

Jamminder Bhullar – JPMorgan Chase & Co, Research Division
Thomas Gallagher – Evercore ISI Institutional Equities, Research Division
Joel Hurwitz – Dowling & Partners Securities, LLC
Suneet Kamath – Jefferies LLC, Research Division
Wesley Carmichael – Wells Fargo Securities, LLC, Research Division
Taylor Scott – Barclays Bank PLC, Research Division

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Presentation

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the MetLife Fourth Quarter and Full Year 2025 Earnings and Outlook Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. Before we get started, I refer you to the cautionary note about forward-looking statements in yesterday’s earnings release and to risk factors discussed in MetLife’s SEC filings.

With that, I will turn the call over to John Hall, Global Head of Investor Relations. Please go ahead.

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John Hall
Senior VP, Head of Investor Relations & Executive VP and Treasurer

Thank you, operator, and good morning, everyone. We appreciate you joining us for MetLife fourth quarter 2025 earnings and near-term outlook call. Before we begin, I’d point you to the information on non-GAAP measures on the Investor Relations portion of metlife.com, in our earnings release and in our quarterly financial supplements, which you should review.

On the call this morning are Michel Khalaf, President and Chief Executive Officer; and John McCallion, Chief Financial Officer and Head of MetLife Investment Management. Also available to participate in the discussion are other members of senior management. Last night, we released an earnings

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