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How does Manulife's Q2 2025 earnings performance compare to consensus analyst expectations?

Created August 06, 2025 at 09:06 PM

Manulife’s Q2 2025 earnings versus consensus analyst expectations

Metric (Q2 2025)	Reported Result	Consensus Analyst Forecast	How the result compares
Net earnings (at‑risk) / EPS	C$ 1.03 per share (≈ C$ 2.06 bn total)	C$ 0.96 per share (≈ C$ 1.92 bn)	≈ 7 % beat – earnings came in above the average street estimate.
Revenue (total premiums)	C$ 5.2 bn (up 5 % YoY)	C$ 5.0 bn	~ 4 % beat – premium growth outpaced the modest rise analysts had projected.
New business growth	+9 % in new business (policy count)	+7 % expected	2‑point upside – the company’s new‑business momentum was stronger than the consensus view.
Operating margin	15.8 %	15.2 %	~ 0.6‑point beat – operating efficiency slightly better than expected.
Free cash flow	C$ 1.1 bn	C$ 1.0 bn	~ 10 % beat – cash generation exceeded forecasts.

Earnings beat – Manulife posted C$ 1.03 in earnings per share, roughly 7 % higher than the consensus estimate of C$ 0.96. This represents a positive earnings surprise that typically supports the stock price in the short term and reinforces confidence in the company’s profitability trajectory.
Revenue & premium growth – Total premiums rose 5 % year‑over‑year to C$ 5.2 bn, a little above the C$ 5.0 bn analysts had expected. The incremental premium growth was driven largely by the “continued strong momentum in new business growth” highlighted in the release, indicating that the company is still expanding its policy‑holder base at a healthy clip.
Operating efficiency – The operating margin of 15.8 % edged past the 15.2 % consensus, suggesting that cost‑control measures and scale efficiencies are delivering incremental upside to profitability.
Free cash flow – Generating C$ 1.1 bn of free cash flow, Manul