Sun Life Financial (SLF) Tops Q3 EPS by 4c

Sun Life Financial (NYSE: SLF) reported Q3 EPS of $0.76, $0.04 better than the analyst estimate of $0.72.

"Our strong results this quarter were driven by earnings in Canada, MFS and Asia," said Dean Connor, President and Chief Executive Officer, Sun Life Financial. "The company is driving real growth, with assets under management up by 18% over the same period last year to $698 billion and underlying net income up by 15% over the same period last year."

"We are pleased to announce the Board of Directors' approval of a share buyback program, reflecting our strong capital position," Connor said. "Our underlying earnings have been on a strong and steady growth trajectory over the course of the past two years. Based on our financial position and outlook, in 2015 we will be revisiting our dividend level with the Board of Directors."

"Our operations in Canada reported solid operating income growth this quarter, with continued strength in both insurance and wealth sales," Connor said. "In particular, Sun Life Global Investments more than doubled sales of institutional and retail funds compared to the same period last year."

"MFS generated a 33% increase in operating net income driven by higher average net assets," Connor said. "Sun Life Investment Management, our new third-party institutional asset manager, recorded its first sale during the quarter."

"Our operations in Asia continued on its strong growth trajectory, with 33% growth in individual life insurance sales compared to the same period last year, and continued growth in underlying net income."

For earnings history and earnings-related data on Sun Life Financial (SLF) click here.

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