Sun Life shares down almost 10% on earnings miss
Written by The Canadian Press on February 13, 2025
TORONTO — Sun Life Financial Inc. shares are trading down close to 10 per cent after disappointing fourth-quarter earnings results.
The insurance giant says it earned $237 million in its fourth quarter, down from $749 million a year earlier.
Earnings worked out to $0.41 per share, far below the $1.69 per share expected by analysts according to LSEG Data & Analytics.
The big miss was in part because of claims pressure in the U.S., market conditions as well as an impairment on its Vietnam business.
Adjusted earnings to remove some of the factors worked out to $1.68 per share, still below analysts’ adjusted expectations of $1.78 per share.
The company said that while it faced some pressure in the quarter it remains well-positioned for long-term growth.
This report by The Canadian Press was first published Feb. 13, 2025.
Companies in this story: (TSX:SLF)
The Canadian Press