The earnings call presented a mix of positive financial results and strategic advancements, such as strong EPS growth and digital initiatives, alongside challenges primarily in the U.S. Dental sector and outflows in MFS. The highlights of strong earnings and strategic successes are somewhat offset by the challenges in specific areas, resulting in a balanced sentiment.

Company Guidance -

Q3 2025

During Sun Life Financial's Q2 2025 conference call, the company provided several key performance metrics and updates. The underlying earnings per share (EPS) rose to $1.79, reflecting a 4% increase year-over-year, while underlying net income exceeded $1 billion. The underlying return on equity (ROE) was 17.6%. The company's LICAT ratio stood at 151%, and they repurchased nearly $400 million in shares. In terms of geographical performance, Asia, Canada, and SLC Management had strong quarters. The U.S. Employee Benefits business achieved record earnings, although the U.S. Dental business faced challenges due to the healthcare environment. Sun Life's asset management arm, MFS, experienced outflows but maintained strong total gross sales. The company's strategic imperatives in asset management, Asia, health, digital, and people showed positive momentum, with significant capital raising of $6 billion and growth in the wealth management sector. Additionally, the company's total contractual service margin (CSM) increased by 9% year-over-year to $13.7 billion. Leadership changes were also announced, including the upcoming retirement of Dan Fishbein, President of Sun Life U.S., and Kevin Morrissey, Chief Actuary, with David Healy set to take over as President of Sun Life U.S.

Strong Financial Performance

Underlying EPS was $1.79, up 4% year-over-year. Underlying net income was just over $1 billion, with an underlying ROE of 17.6%.

U.S. Employee Benefits Record Earnings

The U.S. Employee Benefits business achieved record earnings this quarter, showcasing its leadership position in the market.

Asia Business Success

Asia recorded a 13% year-over-year increase in underlying net income. Individual Protection sales were up 22%, and the CSM grew 23% year-over-year.

Digital Advancements

Significant progress in digital leadership, including the deployment of generative AI capabilities and the launch of a reimagined mobile application in Canada.

Strong Capital Position

The LICAT ratio at SLF was 151%, and Sun Life bought back close to $400 million of shares.

Sun Life Financial (SLF) Earnings, Revenues Date & History

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SLF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	1.31 / -	1.272	―	―	―
Aug 07, 2025	2025 (Q2)	1.28 / 1.29	1.243	4.07% (+0.05)
May 08, 2025	2025 (Q1)	1.23 / 1.32	1.084	21.33% (+0.23)
Feb 12, 2025	2024 (Q4)	1.28 / 1.21	1.214	0.00% (0.00)
Nov 04, 2024	2024 (Q3)	1.23 / 1.27	1.149	10.69% (+0.12)
Aug 12, 2024	2024 (Q2)	1.14 / 1.24	1.135	9.55% (+0.11)
May 09, 2024	2024 (Q1)	1.19 / 1.08	1.099	-1.32% (-0.01)
Feb 07, 2024	2023 (Q4)	1.14 / 1.21	1.222	-0.59% (>-0.01)
Nov 13, 2023	2023 (Q3)	1.15 / 1.15	1.171	-1.85% (-0.02)
Aug 08, 2023	2023 (Q2)	1.11 / 1.13	1.099	3.29% (+0.04)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

SLF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	$61.49	$56.54	-8.05%
May 08, 2025	$59.34	$61.52	+3.67%
Feb 12, 2025	$57.80	$54.15	-6.31%
Nov 04, 2024	$54.01	$56.04	+3.76%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.