Canada's Manulife Q4 core earnings rise 5%

Manulife Financial

11/02/2026 22:14

Overview

Canada insurer's Q4 core earnings rose 5% yr/yr, adjusted EPS beat analyst expectations

Net income for Q4 decreased slightly compared to the previous year

Company announced a 10.2% dividend increase and new share repurchase program

Outlook

Manulife expects to repurchase up to 2.5% of outstanding shares in 2026

Result Drivers

CORE EARNINGS GROWTH - Driven by strong performance in Asia and Global WAM, with 24% and 7% increases in core earnings, respectively, despite challenges in the U.S.

NEW BUSINESS GROWTH - Significant increases in new business CSM and NBV, particularly in Asia and the U.S., reflecting strong demand and favorable product mix.

GLOBAL WAM OUTFLOWS - Experienced net outflows of C$14.3 bln in 2025 due to higher redemptions and lower sales through intermediaries.

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 EPS
C$0.83
Q4 Adjusted ROE
17.10%
Q4 ROE
12.70%


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$55.50, about 7% above its February 10 closing price of C$51.85

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

Press Release: ID:nCNWTmWjTa

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(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.)