Prudential Financial (PRU) Tops Q1 EPS by 15c

Prudential Financial (NYSE: PRU) reported Q1 EPS of $2.79, $0.15 better than the analyst estimate of $2.64.

• Net income attributable to Prudential Financial of $1.369 billion or $3.09 per Common share versus $1.336 billion or $2.93 per share for year-ago quarter.
• After-tax adjusted operating income of $1.237 billion or $2.79 per Common share versus $997 million or $2.18 per share for year-ago quarter.
• Significant items: in 1Q:17, net income and adjusted operating income include a net benefit of 3 cents per Common share, and in 1Q:16, net income and adjusted operating income included a net charge of 8 cents per share, from items discussed later in this release.
• In addition, current quarter expenses reflect the impact of modifications of certain provisions within our long-term compensation program that changes the timing of expense recognition, resulting in a pre-tax expense of approximately $80 million, or 12 cents per Common share, which would have previously been recognized over the remaining three quarters of the year.

For earnings history and earnings-related data on Prudential Financial (PRU) click here.

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