Principal Financial Q2 2023 Earnings Report

Principal Financial reported strong second quarter results driven by its integrated business model and leading position in the small to mid-sized business segment.

Key Takeaways

Principal Financial Group reported a net income of $389 million, or $1.58 per diluted share, which includes $64 million from exited business. Non-GAAP operating earnings were $376 million, or $1.53 per diluted share. The company returned $255 million of capital to shareholders and declared a third quarter dividend of $0.65 per share. AUM reached $674 billion, included within AUA of $1.5 trillion.

Net income attributable to Principal Financial Group was $389 million, or $1.58 per diluted share, including $64 million from exited business.

Non-GAAP operating earnings were $376 million, or $1.53 per diluted share.

Returned $255 million of capital to shareholders.

Declared a third quarter common stock dividend of $0.65 per share, a 2% increase over the second quarter.

Total Revenue

$3.5B

Previous year: $3.14B