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Sun Life Financial (TSE:SLF) Easily Beats Q4-2022 Earnings Estimates

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Sun Life Financial just reported its Q4-2022 and full-year results, and earnings came above expectations. Meanwhile, analysts are cautiously optimistic about the stock.

Sun Life Financial (TSE:SLF) (NYSE:SLF), a Canadian financial services company and one of the world’s largest insurers, reported its Q4-2022 and full-year earnings results after market close today. For the quarter, SLF reported underlying earnings per share (EPS) of C$1.69, beating the consensus estimate of C$1.54 and representing a growth rate of 10.46% compared to Q4 2021’s underlying EPS of C$1.53.

The company’s underlying net income also increased by a similar rate (10%) to C$990 million. Meanwhile, reported (unadjusted) net income decreased by 12% year-over-year. Additionally, Sun Life’s underlying return on equity came in at 15.7%, higher than the 15.0% recorded in Q4 2021.

For the full year, Sun Life recorded underlying earnings per share of C$6.27 compared to C$6.03 for 2021, and reported EPS came in at C$5.21 compared to C$6.69 in the prior year. Further, the company’s full-year underlying return on equity fell slightly by 30 basis points to 15.1%. Lastly, Kevin Strain, President and CEO of Sun Life, noted that SLF experienced an “18% increase in insurance sales” and “$21.5 billion of inflows at SLC Management,” boding well for the company.

Is SLF Stock a Buy, According to Analysts?

SLF stock earns a Moderate Buy consensus rating based on four Buys and two Hold ratings assigned in the past three months. The average SLF stock forecast of C$70.67 implies 4.8% upside potential.


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