Canada's Manulife Q3 profit beats estimates

Manulife Financial

04/11/2026 22:15

Overview
Canada insurance and financial services firm's Q3 adjusted EPS beat analyst expectations
Adjusted net income for Q3 also beat analyst expectations
Net income fell 22% yr/yr, mainly due to market experience losses and Vietnam charges

Outlook
Manulife did not provide specific financial guidance for the current or future periods

Result Drivers
ASIA GROWTH - Double-digit core earnings growth in Asia driven by continued business expansion and improved claims experience, partially offset by higher expected credit loss provisions
MARKET EXPERIENCE LOSSES - Net income declined due to lower than expected returns on alternative long-duration assets and public equities, as well as losses from derivatives and hedge accounting ineffectiveness
ACTUARIAL REVIEW IMPACT - Annual review of actuarial methods and assumptions had a net favourable impact on core earnings, but also resulted in a decrease in pre-tax net income attributed to shareholders

Company press release: ID:nCNW4v98Pa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS
Beat
C$1.24
C$1.18 (12 Analysts)
Q3 EPS
 
C$0.82
 
Q3 Adjusted Net Income
Beat
C$2.13 bln
C$2.003 bln (7 Analysts)
Q3 Adjusted ROE
 
17.80%
 
Q3 ROE
 
11.80%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 4 "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 Corporation is C$67.50, about 7.5% above its November 3 closing price of C$62.80
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago

Reuters Recommended Reads
Nov 3 - Canadian insurer Intact Financial Q3 adj EPS misses estimates
Nov 4 - MetLife's Q3 results beat estimates on volume growth, solid underwriting
Nov 3 - AIG Q3 net premiums written rise on commercial, personal insurance growth

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.)