Principal Financial Q4 2023 Earnings Report
Key Takeaways
Principal Financial Group reported a net loss attributable to PFG of $872 million, or $3.66 per diluted share, for the fourth quarter of 2023, which includes $1,171 million of loss from exited business. Non-GAAP operating earnings were $441 million, or $1.83 per diluted share. The company returned $0.4 billion of capital to shareholders during the quarter and announced a new $1.5 billion share repurchase authorization.
Net loss attributable to PFG was $872 million, or $3.66 per diluted share, including $1,171 million loss from exited business.
Non-GAAP operating earnings were $441 million, or $1.83 per diluted share.
Returned $0.4 billion of capital to shareholders.
New share repurchase authorization of $1.5 billion approved.
Principal Financial
Principal Financial
Forward Guidance
The company's 2024 outlook includes 9-12% annual non-GAAP operating earnings per diluted share (EPS) growth, 75-85% free capital flow conversion, and $1.5-$1.8 billion capital deployment.
Positive Outlook
- 9-12% annual non-GAAP operating earnings per diluted share (EPS) growth
- 75-85% free capital flow conversion
- $1.5-$1.8 billion capital deployment