Principal Financial Q3 2022 Earnings Report

Principal Financial Group announced third quarter 2022 results, reporting net income of $1.4 billion and non-GAAP operating earnings of $427 million.

Key Takeaways

Principal Financial Group reported a strong third quarter in 2022, with a net income of $1.4 billion, including $1.0 billion from exited business, and non-GAAP operating earnings of $427 million. The company returned $607 million of capital to shareholders and saw positive net cash flow of $2.4 billion.

Net income attributable to Principal Financial Group was $1.4 billion, or $5.50 per diluted share, including $1.0 billion of income from exited business.

Non-GAAP operating earnings were $427 million, or $1.69 per diluted share.

The company returned $607 million of capital to shareholders, including $450 million in share repurchases and $157 million in common stock dividends.

Assets under management (AUM) of $608 billion, which is included in assets under administration (AUA) of $1.4 trillion.

Total Revenue

$3.44B

Previous year: $3.62B

Assets under management