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Dec 31, 2024
Prudential Q4 2024 Earnings Report
Prudential's Q4 2024 financial performance reflected a net loss but improved adjusted operating income, driven by strong sales in retirement and insurance businesses and positive net flows in PGIM.
Key Takeaways
Prudential Financial, Inc. reported a net loss of $57 million for Q4 2024, compared to a net income of $1.317 billion in the year-ago quarter. However, after-tax adjusted operating income increased to $1.068 billion from $926 million in the same period last year. The company's 2024 results reflect strong sales across retirement and insurance businesses and significant positive net flows in PGIM.
Q4 2024 net loss attributable to Prudential Financial, Inc. was $57 million or $0.17 per Common share.
Q4 after-tax adjusted operating income was $1.068 billion or $2.96 per Common share.
PGIM assets under management were up 6% from the year-ago quarter, driven by net inflows, equity market appreciation, and strong investment performance.
Capital returned to shareholders of $720 million in the fourth quarter, including $250 million of share repurchases and $470 million of dividends.
Prudential
Prudential
Prudential Revenue by Segment
Revenue by Segment
PGIM Revenue
CapyFin.comU.S. Businesses Revenue
CapyFin.comInternational Businesses Revenue
CapyFin.comCorporate & Other Revenue
CapyFin.com Forward Guidance
Prudential is well positioned to continue to deliver long-term, sustainable growth and remain a global leader in expanding access to investing, insurance, and retirement security.
Positive Outlook
- Strong sales across retirement and insurance businesses
- Significant positive net flows in PGIM
- Diversified product mix
- Expanded distribution channels
- Continued investment in the growth of businesses
Challenges Ahead
- Market or competitive conditions
- Other factors
- One-time transaction impacts associated with closing the Guaranteed Universal Life reinsurance transaction
- Consolidation of captive financing arrangements
- Less favorable underwriting results