MetLife Q2 2026 Earnings: Adjusted Profit Growth Outpaces GAAP Net Income

MetLife (NYSE: MET) reported Q2 2026 total revenue of $19.15 billion, up from $17.34 billion a year earlier, while GAAP EPS rose 6% to $1.09. Adjusted earnings increased 15% to $1.57 billion and adjusted EPS advanced 20% to $2.43, supported by favorable underwriting and broad volume growth. Group Benefits and Asia led segment profit growth, but investment-related losses limited net income growth to 1%. Adjusted ROE reached 17.0%, while the expense ratio increased to 21.7% from 19.8%. Adjusted PFO excluding pension risk transfers grew 5% across every operating segment.