MetLife, Inc. (NYSE:MET) Q3 2024 Results Conference Call October 31, 2024 9:00 AM ET
Company Participants
John Hall - Global Head, IR
Michel Khalaf - President and CEO
John McCallion - CFO
Ramy Tadros - Regional President, U.S. Business, Head, MetLife Holdings
Lyndon Oliver - President, MetLife Asia
Conference Call Participants
Suneet Kamath - Jefferies
Jimmy Bhullar - JPMorgan
Tom Gallagher - Evercore
Ryan Krueger - KBW
Alex Scott - Barclays
Wilma Burdis - Raymond James
John Barnidge - Piper Sandler
Operator
Ladies and gentlemen, thank you for standing by. Welcome to the MetLife Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. Instructions will be given at that time. 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.
John Hall
Thank you, operator. Good morning, all. We appreciate you joining MetLife's third quarter 2024 earnings call. Before we begin, I 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. Other members of senior management are also available to participate.
We released our supplemental slides last night and they are available on our website. John McCallion will speak to them in his prepared remarks. An appendix to the slides features disclosures, GAAP reconciliations, and other information for your review. Q&A will follow prepared remarks and will end just before the top of the hour. As a reminder, please limit yourself to one question and one follow-up.
On to Michel.
Michel Khalaf
Thank you, John, and good morning, everyone. Last night, MetLife reported third quarter results, which while absorbing pressure on variable investment income, affirmed the financial attractiveness of our businesses. Taking a wider view, year-to-date adjusted earnings per share excluding notable items are up 12%, pointing to our broader based momentum and a favorable underlying environment for our global set of market leading businesses.
In the U.S, unemployment remains at historically low levels, inflation appears to be under control and the yield curve has started to see a positive slope beyond two years. These are conditions that favor both our Group Benefits and our Retirement and Income Solutions businesses.