Sun Life Posts $722 Million Q4 Net Income, EPS $1.96

Overview

• Sun Life reported fourth-quarter net income of $722 million, up from $237 million a year earlier when a writedown and weaker investment income weighed on results.
• Earnings for the quarter came to $1.96 per share, according to the company’s release quoted by The Globe and Mail.
• Underlying net income was $534 million in asset management and wealth and $308 million in health and protection.
• The insurer said assets under management totaled $1.6 billion, increasing from $1.54 billion.
• An AP snapshot generated from Zacks data cited $532.3 million in Q4 earnings with per-share profit of $0.93 and adjusted EPS of $1.41, along with quarterly revenue of $6.41 billion and full-year profit of $2.54 billion, reflecting the use of different metrics than the company release.