Sun Life shares slump with U.S. dental biz recovering only in 2025 [Reuters]
Manulife Financial Corporation (MFC)
Last manulife financial corporation earnings: 2/12 05:00 pm
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Source: Reuters
due to weakness in its dental insurance business in the United States, with CEO Kevin Strain expecting turbulence in the near term. Sun Life posted its after market close on Thursday, also impacted by the sale of its Sun Life UK business and poor earnings at its wealth and asset management unit. The company's shares were down 5.7% by Friday afternoon. Bigger rival Manulife Financial Corp's shares were up 1% after on Thursday on the back of stronger-than-expected quarterly profit. Strain said its DentaQuest business still faces some challenges but expects it will hit $100 million in annual income in 2025. When it acquired DentaQuest for $2.5 billion in 2022 as part of a push to expand in the United States it had originally forecast that much income for 2023 for the dental business. Report this ad "We're still a big believer in this business and the acquisition we did and that it's going to meet the long-term objectives we had," Strain said. Medicaid enrollments in Sun Life'
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MFC
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- 5/8/24 - Beat
MFC
Analyst Actions
- 5/9/24 - National Bank Financial
MFC
Sec Filings
- 5/21/24 - Form 6-K
- 5/14/24 - Form 13F-NT
- 5/9/24 - Form 6-K
- MFC's page on the SEC website