Principal Financial Q1 2024 Earnings Report

Principal Financial Group reported strong first quarter 2024 results, driven by focused execution, strong sales, and equity market tailwinds.

Key Takeaways

Principal Financial Group reported a net income of $533 million, or $2.22 per diluted share, for the first quarter of 2024. Non-GAAP operating earnings were $394 million, or $1.65 per diluted share. The company returned $362 million of capital to shareholders and raised its second quarter dividend to $0.71 per share. Assets under management reached $709 billion, contributing to total assets under administration of $1.6 trillion.

Net income attributable to Principal Financial Group (PFG) was $533 million, or $2.22 per diluted share.

Non-GAAP operating earnings were $394 million, or $1.65 per diluted share.

The company returned $362 million of capital to shareholders, including $200 million in share repurchases.

Assets under management (AUM) reached $709 billion, part of $1.6 trillion in assets under administration (AUA).

Total Revenue

$4.05B

Previous year: $3.44B