Canada's Manulife misses Q1 profit estimates

Manulife Financial

13/05/2026 22:16

Overview

Canada insurer-asset manager's Q1 adjusted EPS rose 11% but missed analyst expectations

Adjusted net income for Q1 rose 8% but missed analyst expectations

Company completed Schroders Indonesia acquisition and returned C$1.2 bln to shareholders

Outlook

Manulife says it remains well positioned to deliver its targets and capture growth

Manulife expects continued benefits from AI investments and new partnerships

Result Drivers

ASIA GROWTH - Strong business growth in Asia drove core earnings and new business value higher, with 22% growth in core earnings and 15% growth in new business value

GLOBAL WAM - Higher net fee income from market impacts and the Comvest acquisition supported Global WAM core earnings, though net outflows persisted

ACTUARIAL UPDATES & INSURANCE EXPERIENCE - Net positive impact from 2025 actuarial updates and improved insurance experience contributed to core earnings growth

Company press release: ID:nPn8RSSXMa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Core EPS
Miss
C$1.06
C$1.10 (11 Analysts)
Q1 EPS
C$0.65
Q1 Core Net Income
Miss
C$1.84 bln
C$1.87 bln (7 Analysts)
Q1 Adjusted ROE
16.5%
Q1 ROE
10.1%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the life & health insurance peer group is "buy"

Wall Street's median 12-month price target for Manulife Financial Corp is C$57.00, about 4% above its May 12 closing price of C$54.82

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 11 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)