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Sep 30, 2023
Principal Financial Q3 2023 Earnings Report
Principal Financial Group reported strong third quarter results driven by a diversified business model and industry-leading position in the small to mid-sized business segment.
Key Takeaways
Principal Financial Group announced strong Q3 2023 results with a net income of $1,246 million, including $702 million from exited businesses, and non-GAAP operating earnings of $420 million. The company returned $356 million to shareholders and raised its fourth-quarter dividend to $0.67 per share. AUM reached $651 billion, included in AUA of $1.5 trillion.
Net income attributable to Principal Financial Group was $1,246 million, or $5.10 per diluted share, including $702 million of income from exited business.
Non-GAAP operating earnings were $420 million, or $1.72 per diluted share.
The company returned $356 million of capital to shareholders.
The company raised its fourth quarter 2023 common stock dividend by $0.02 to $0.67 per share.
Forward Guidance
The company remains confident in delivering its full year guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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