The chart below shows how PFG performed 10 days before and after its earnings report, based on data from the past quarters. Typically, PFG sees a -1.27% change in stock price 10 days leading up to the earnings, and a -1.21% change 10 days following the report. On the earnings day itself, the stock moves by +0.61%. This data can give you a slight idea of what to expect for the next quarter's release.
Positive
Non-GAAP Operating Earnings Growth: Reported $412 million of non-GAAP operating earnings or $1.76 per diluted share for Q3 2024, reflecting a 12% increase in EPS over Q3 2023.
Net Revenue Increase: Achieved a 5% increase in net revenue, driven by growth in business segments and favorable market conditions compared to the previous year.
Shareholder Capital Return: Returned $416 million of capital to shareholders in Q3 2024, including $251 million of share repurchases.
Dividend Increase Announcement: Raised our common stock dividend for the sixth consecutive quarter, aligning with our targeted 40% dividend payout ratio.
AUM Growth Achievement: Total company managed AUM reached $741 billion, reflecting a 6% growth from the previous quarter.
Negative
Net Loss Impact Analysis: Third quarter reported net loss was $220 million, driven by noneconomic impacts from exited businesses.
Net Income Exclusion Impact: Excluding these impacts, net income was $419 million.
Operating ROE Analysis: Non-GAAP operating ROE in the quarter was 12.9% and 13.5%, excluding actuarial assumption review impacts.
Non-GAAP Operating Earnings: Third quarter non-GAAP operating earnings were $480 million or $2.05 per diluted share.
Effective Tax Rate Guidance: The effective tax rate in the quarter was at the lower end of our 17% to 20% guidance, with year-to-date at the midpoint of our guidance range.
Principal Financial Group, Inc. (PFG) Q3 2024 Earnings Call Transcript
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