Abstract

Manulife will post its quarterly results on February 11, 2026 Post Market; this preview consolidates the latest financial data and forecasts to outline revenue, profitability, and EPS dynamics alongside prevailing institutional views.

Market Forecast

Consensus points to a constructive outlook for the quarter, with Manulife’s projected adjusted EPS at 1.06, implying an estimated year-over-year growth of 12.17%. The company’s internal forecast framework implies revenue resilience and steady profitability trends, though specific revenue and gross margin guidance for the current quarter were not disclosed in forecast feeds.

Management’s operating lens suggests that insurance premium growth and investment income normalization should anchor top-line performance in the near term. Among business lines, core insurance premiums appear primed to deliver the most consistent contribution, with growth potential supported by product mix and persistency improvements.

Last Quarter Review

In the previous quarter, Manulife delivered revenue of 10.12 billion, a gross profit margin of 40.58%, GAAP net profit attributable to shareholders of 1.79 billion with a net profit margin of 17.14%, and adjusted EPS of 1.16; net profit declined by 4.54% quarter over quarter while adjusted EPS grew 16.00% year over year.

A key highlight was the outperformance versus prior EPS expectations, with adjusted EPS of 1.16 surpassing estimates of 1.03. Main business momentum was anchored by insurance premiums of 37.85 billion and other revenue of 9.16 billion, while net investment income was a loss of 29.87 billion, reflecting market-driven volatility.

Current Quarter Outlook

Core Insurance and Wealth Solutions

The principal revenue engine remains premium-based insurance and related wealth solutions. Stability in lapse rates and product repricing initiatives should support sustained margin quality, reinforcing the gross profit margin trend observed last quarter at 40.58%. The company’s focus on higher-return segments and disciplined underwriting can help protect the net profit margin, which stood at 17.14% in the prior period, even amid fluctuating capital markets. Given the forecast EPS of 1.06 with year-over-year growth of 12.17%, we anticipate steady policyholder growth and improved sales mix to underpin earnings cadence this quarter.

Investment Income and Asset Management

Investment income normalization is likely to be a swing factor after the prior period’s net investment loss. A more stable rate environment and credit spread dynamics can reduce earnings volatility and provide a modest uplift to EBIT and EPS. Asset management flows and fee-based revenue streams can complement insurance earnings, though sensitivity to market levels remains. If markets hold near recent averages, fee income should offset part of the prior net investment headwind, supporting the EPS forecast trajectory.

Capital, Buybacks, and Sensitivity to Markets

Capital deployment through buybacks and dividends is an ongoing support for per-share earnings, evidenced by the previous quarter’s EPS beat against estimates. However, equity and fixed income market conditions will continue to influence short-term results via investment returns and fair-value adjustments. The company’s risk appetite and hedging approach are designed to dampen tail volatility, but a rapid change in rates or credit spreads could still impact net income and EPS delivery versus the 1.06 forecast.

Analyst Opinions

Recent analyst commentary tilts positive, with a majority signaling constructive expectations around EPS delivery and capital returns into this print. Notable brokers emphasize progress on cost discipline and product mix, which together reinforce the 12.17% year-over-year EPS growth forecast at 1.06. Several institutions highlight the company’s relative resilience to interest-rate transitions and a measured exposure to market-sensitive investment gains and losses. The positive skew in opinions centers on execution in core insurance and improved consistency in fee-based earnings, setting a favorable backdrop for February 11, 2026 Post Market.