Manulife Financial Corp

MFC: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 91.00	Rthmx	Pflrfmslz

Manulife Sees Some Headwinds in Third Quarter

Rajiv Bhatia

Nov 10, 2022

Manulife had a soft third quarter. Core earnings per share were CAD 0.67, down from CAD 0.76 in the year-ago period and below the FactSet consensus estimate of CAD 0.78. Due to Hurricane Ian, Manulife took an elevated charge for its reinsurance business, something similar to what we saw at peer Great-West. We will maintain our no-moat rating and CAD 27 fair value estimate for Manulife.

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