Manulife Financial Corp (TSE:MFC)
TSX:MFC
Earnings Data
Report Date
May 13, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.11Last Year’s EPS
0.99Same Quarter Last Year
Strong Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive outlook: Manulife delivered record core earnings, strong new business CSM/NBV growth across Asia and other segments, generated remittances above expectations, returned significant capital to shareholders, strengthened balance sheet metrics, and advanced strategic and AI initiatives. Notable challenges included meaningful net outflows in Global WAM for the quarter, ALDA-related and hedge accounting charges that reduced net income, lower investment spreads and a material decline in U.S. core earnings (−22% YoY). Management characterized adverse U.S. mortality experience as short-term variability and emphasized diversified, capital-efficient businesses and a clear path to 2027 targets. Overall, positive operational and capital outcomes outweigh the quarter-specific market and investment headwinds.Company Guidance
Strong New Business CSM and NBV Growth
New business CSM growth exceeded 20% in each insurance segment (sixth consecutive quarter >20%), with full-year new business CSM growth >20% in multiple markets including Hong Kong, Japan, Mainland China and Singapore. Asia NBV margin expanded to 41.2% (up 5.5 percentage points YoY); Hong Kong Q4 NBV margin rose to 52.4% from 39.7% in Q4 2024 (+12.7 pp). U.S. new business CSM grew 34% YoY.
Record Core Earnings and EPS Growth
Management reported record core earnings for 2025. Core EPS grew 8% for the year (Q4 core EPS up 9% YoY) and core ROE expanded by 30 basis points, tracking toward the 2027 target of 18%+.
Strong Segment Performance — Asia and Global WAM
Asia core earnings increased 24% YoY in the quarter, driven by business growth and favorable basis changes. Global WAM delivered 7% YoY pretax core earnings growth, with AUMA growth, addition of Comvest, and expense discipline; Global WAM gross flows rose 15% YoY to $50 billion and core EBITDA margin expanded 60 bps to 29.2%.
Capital Generation and Shareholder Returns
Generated $6.4 billion of remittances in 2025 (above $6.0 billion expectation) and returned nearly $5.5 billion to shareholders. Announced a 10% increase in the quarterly common share dividend and received OSFI approval for a new NCIB to repurchase up to 42 million shares (~2.5%).
Strong Balance Sheet Metrics
Adjusted book value per share grew 6% to $38.27 (growth reduced by ~3% from CAD strengthening). LICAT ratio of 136% (about $24 billion above supervisory target) and financial leverage ratio of 23.9% (below medium-term target of 25%), providing capital flexibility.
Strategic Investments and M&A Activity
Expanded strategic footprint via acquisitions and partnerships: acquired Comvest Credit Partners; announced a JV to enter India life insurance; entered agreement to acquire Schroders Indonesia (subject to approvals); established a Dubai IFSC office for HNW life solutions.
Product and Distribution Enhancements
Launched new indexed universal life offering in the U.S., expanded Manulife Bank lending products in Canada, renewed bancassurance with Chinabank in the Philippines to 2039, enhanced Manulife iFUNDS in Singapore with AI analytics, and expanded U.S. wholesaling for HNW and mass affluent channels.
AI Leadership and Efficiency Initiatives
Ranked 1st among global life insurers for AI maturity (Evident). Management reported achieving 30% of the targeted $1 billion+ AI enterprise value by 2027 and is deploying AI across underwriting, distribution, virtual assistance and operations to drive efficiency and scaled customer engagement.
TSE:MFC Earnings History
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
TSE:MFC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 11, 2026 | C$50.89 | C$48.22 | -5.25% |
Nov 12, 2025 | C$47.34 | C$47.40 | +0.12% |
Aug 06, 2025 | C$41.76 | C$40.15 | -3.86% |
May 07, 2025 | C$41.76 | C$41.73 | -0.07% |
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.
FAQ
When does Manulife Financial Corp (TSE:MFC) report earnings?
Manulife Financial Corp (TSE:MFC) is schdueled to report earning on May 13, 2026, After Close (Confirmed).
What is Manulife Financial Corp (TSE:MFC) earnings time?
Manulife Financial Corp (TSE:MFC) earnings time is at May 13, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is TSE:MFC EPS forecast?
TSE:MFC EPS forecast for the fiscal quarter 2026 (Q1) is 1.11.