Published on 10 May 2024 on Zacks via Yahoo Finance

Sun Life (SLF) Q1 Earnings Miss Estimates, Dividend Hiked

Sun Life Financial Inc. SLF delivered first-quarter 2024 underlying net income of $1.11 per share, which missed the Zacks Consensus Estimate by 7.5%. The bottom line decreased 0.9% year over year. Underlying net income was $643 million (C$875 million), which decreased 2.2% year over year.Revenues of $5.1 billion decreased 37.5% year over year and missed the Zacks Consensus Estimate by 29.6%.The quarterly results were affected by the sale of Sun Life UK, higher morbidity claims and the end of the Public Health Emergency in the United States.Wealth sales & asset management gross flows of $34.5 billion (C$46.9 billion) increased 1.2% year over year. Group - Health & Protection sales of $388 million (C$528 million) improved 3.7% year over year. Individual - Protection sales of $556 million (C$757 million) jumped 48.1% year over year.New business contractual service margin (CSM) was $255 million (C$347 million), up 50% year over year.

Sun Life Financial Inc. Price, Consensus and EPS Surprise

Sun Life Financial Inc. price-consensus-eps-surprise-chart | Sun Life Financial Inc. Quote