Prudential Q4 2023 Earnings Report
Key Takeaways
Prudential Financial, Inc. reported a net income of $1.317 billion for Q4 2023, a significant increase compared to the net loss of $52 million in the same quarter of the previous year. The after-tax adjusted operating income also saw a slight increase, reaching $943 million compared to $932 million in the year-ago quarter. The company's strong sales across insurance and retirement businesses and strategic transactions contributed to these results.
Net income attributable to Prudential Financial, Inc. was $1.317 billion, or $3.61 per Common share, compared to a net loss of $52 million, or $0.16 per share, for the year-ago quarter.
After-tax adjusted operating income was $943 million, or $2.58 per Common share, compared to $932 million, or $2.49 per share, for the year-ago quarter.
PGIM assets under management were $1.298 trillion, up 6% from the year-ago quarter.
Capital returned to shareholders was $708 million, including $250 million of share repurchases and $458 million of dividends.
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Forward Guidance
Prudential is confident that their strategy and business system position them well to deliver long-term, sustainable growth and to continue to be a global leader in expanding access to investing, insurance, and retirement security.