Analyst Consensus ?
ConsensusHold15 ratings
Bullish426.7%
Neutral960.0%
Bearish213.3%
Sun Life Financial Inc. · SLF · FY2024 Q2 · Calendar Q3 2024
Sun Life posts stronger earnings while dental and MFS risks persist
The quarter supports a constructive but qualified view: earnings growth, strong protection and wealth activity, and capital resilience are offset by unresolved U.S. dental, MFS outflow, real-estate, and restructuring risks.
Reported After market closeNYSEFinancial Services
$44.12B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.25
Consensus $1.18
EPS surprise
+5.9%
Reported versus consensus
Reported revenue
$6.52B
Consensus $646.5M
Revenue surprise
+908.8%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+5.3%
Event window
SPY move
+1.6%
Same window
Abnormal move
+3.7%
Stock minus SPY
Volume
1.2×
Versus trailing sessions
Subsequent drift
+9.5%
Up to 20 sessions
SLFSPY benchmark
Ask FN2 about SLF FY2024 Q2
Transcript, numbers and history already loaded
Why did SLF rise 5.3% after beating EPS estimates in FY2024 Q2?What changed in SLF's guidance and outlook in FY2024 Q2?Give me the bull and bear case for SLF after FY2024 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis shows a stronger quarter than the prior period, with record underlying net income, higher EPS and ROE, and a larger focus on restructuring savings and digital initiatives. U.S. dental recovery remains a central unresolved issue, while MFS outflows and real-estate conditions continue to require monitoring.
Guidance delta
Management maintained its outlook, including the target of $100 million in underlying dental earnings for 2025 and the restructuring savings objective.
Key takeaways
- Underlying net income rose 9% to $1 billion, with EPS up 10% and ROE at 18.1%.
- Individual protection and wealth management were growth areas, while U.S. dental and real estate faced headwinds.
- Management is pursuing restructuring and digital initiatives while maintaining a strong capital position.
Management priorities
- Deliver the restructuring program and phased cost savings.
- Improve U.S. dental profitability through cost management and contract repricing.
- Expand digital, generative-AI, bancassurance, and joint-venture distribution initiatives.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$79.35Current
$50.93Low
$76.64Average
$92High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 18, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Argus Research | Buy | Buy | Maintain | Sep 3, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Aug 10, 2026 |
| Credit Suisse | Outperform | Outperform | Maintain | Aug 10, 2023 |
| CFRA | Hold | Hold | Maintain | May 12, 2020 |
| CIBC | Underperform | Neutral | Downgrade | Mar 14, 2019 |
| Scotiabank | Sector Perform | Sector Outperform | Downgrade | Feb 6, 2019 |
| Argus | Buy | Hold | Upgrade | May 5, 2018 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Apr 5, 2018 |
| BMO Capital | Outperform | Market Perform | Upgrade | Feb 16, 2018 |
| Canaccord Genuity | Hold | Buy | Downgrade | Nov 17, 2016 |
| Jefferies | Hold | Hold | Maintain | Jul 27, 2016 |
| Macquarie | Neutral | Outperform | Downgrade | Nov 5, 2015 |
| Cormark Securities | Market Perform | Buy | Downgrade | Dec 19, 2012 |
| Barclays | Underweight | Underweight | Maintain | Nov 9, 2012 |
| Desjardins | Hold | Buy | Downgrade | Oct 11, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $79.35. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Argus Research | Analyst unavailable | $88 | $79.46 | +10.9% | Sep 3, 2026 |
| Argus Research | Kevin Heal | $81 | $74.52 | +2.1% | Jun 10, 2026 |
| Morgan Stanley | Analyst unavailable | $89 | $60.41 | +12.2% | Oct 7, 2025 |
| Capital One Financial | Tom MacKinnon | $92 | $60.9 | +15.9% | Nov 14, 2024 |
| Stifel Nicolaus | Mike Rizvanovic | $58.89 | $51.95 | -25.8% | Oct 4, 2021 |
| Barclays | John Aiken | $50.93 | $50.38 | -35.8% | Aug 5, 2021 |
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Start freeCompany context
Snapshot as of publicationSun Life Financial Inc. operates as a global financial institution, delivering a wide range of insurance, wealth management, and asset accumulation services to both individual and corporate clients worldwide. Its offerings encompass diverse life insurance products, including term and whole life policies, in addition to personal health, dental, critical illness, long-term care, and disability coverage. The company also engages in reinsurance activities, provides investment advisory and portfolio management services, and administers mutual and segregated funds. Furthermore, it offers trust and banking solutions, along with real estate brokerage, appraisal, and merchant banking services. Its distribution network is extensive, utilizing direct sales representatives, various general agents (both managing and independent), financial intermediaries, broker-dealers, banking institutions, pension and benefits consultants, and other external marketing organizations. Founded in 1871, the firm's headquarters are located in Toronto, Canada.
Historical context
All SLF earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| MTB-PH M&T Bank Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.2% | — | M&T Bank: Loan Growth Holds Up as Rates Pressure Margins |
| MTB-PJ M&T Bank Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.2% | — | M&T: Deposit growth supports margins as AI use expands |
| RF-PE Regions Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | +10.3% | — | Regions Financial: Fee Growth and Credit Quality Support Q3 |
| RF-PC Regions Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | +10.3% | — | Regions Financial: Fee growth supports a steady Q3 outlook |
| TFC-PI Truist Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | -50.9% | — | Truist sharpens focus as Q3 EPS rises 12% |
| TRV The Travelers Companies, Inc. | FY2026 Q3 · Calendar Q4 2026 | +24.2% | +1.5% | Travelers posts strong Q3, with investment income above $900 million |
Latest beats and misses
Who reports nextBeat on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-10-17T05:10:49.140638+00:00
- Polygon adjusted daily market bars · 2026-10-18T06:40:39.341681+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-18T06:40:39.339092+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-18. For educational purposes only; not investment advice.