Principal Financial Posts $2.91 3Q EPS, Net Income $631.9M
PFG sits 36% above its 52-week low of $79.45.
Summary
Principal Financial reported third-quarter net income of $631.9 million, or $2.91 per diluted share, per the 8-K filed minutes before this wire. That is a sharp step up from the $403.4 million posted in Q2, though the prior quarter was dragged down by a loss from exited business. The headline gives only the EPS line, so the quality of the beat — fee revenue, spread income, and the operating earnings figure — is not yet visible here. The 8-K also carries non-GAAP operating earnings, which is the number analysts model for this insurer and asset manager. Watch the full release and call details for segment margins and the AUM trend after the $785.0 billion quarter-end figure disclosed on October 19, which took a roughly 1.5% FX hit.
At the time of this announcement, PFG was trading at $108.21 on NASDAQ in the Finance sector, with a market capitalization of approximately $23.6B. The 52-week trading range was $79.45 to $121.18. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.