Manulife Financial Q3 adjusted EPS beats analyst forecasts

what happened

Manulife Financial posted adjusted earnings of C$1.24 per share for the quarter ended September 30, up from C$1.16 a year earlier. The average estimate of 13 analysts was C$1.18, so the insurer came in ahead of expectations. Revenue reached C$10.95 billion and net income came to C$1.42 billion. On a reported basis, earnings per share were 82 cents. Figures come from an Earnings Summary report based on LSEG data.

why it matters

The shares rose 5.8% during the quarter and 28.8% so far this year. Meanwhile, the average earnings estimate fell about 1% over three months, and nine analysts cut their forecasts over the last 30 days. Recommendations remain mostly positive, with 10 buy ratings, 4 holds and 1 sell.

market impact

Manulife Financial shares: earnings above forecasts support the stock, though analyst estimates edged lower

• ▲Manulife Financial shares pressure up — earnings above the consensus forecast support the stock

tags

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