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.

Total Revenue

$4.6B

Previous year: $3.44B

Assets under management