Prudential Financial (PRU) Misses Q3 EPS by 1c

Prudential Financial (NYSE: PRU) reported Q3 EPS of $3.15, $0.01 worse than the analyst estimate of $3.16.

• Net income attributable to Prudential Financial of $1.672 billion or $3.90 per Common share versus $2.238 billion or $5.09 per share for year-ago quarter.
• After-tax adjusted operating income of $1.346 billion or $3.15 per Common share versus $1.323 billion or $3.01 per share for year-ago quarter.
• Notable items resulted in a net charge to net income and after-tax adjusted operating income of $5 million or $0.01 per Common share, as discussed later in this release.

John Strangfeld, Chairman and CEO, commented on results:

“We generated an annualized adjusted operating return on equity that remained above our 12-13% target and produced positive growth metrics across our businesses. Our strong cash flows and capital position enabled us to return $755 million to shareholders in the third quarter through dividends and share repurchases.

During the quarter, we launched several additional cross-business initiatives using technology to unlock financial opportunity for more people. One example is the recent launch of LINK by Prudential, our online tool that allows individuals across a broader financial spectrum to set goals, receive personalized advice and take action. As we transition to the next generation of Prudential’s leadership, I remain confident in our ability to generate competitive financial performance and a positive social impact through these and other strategic efforts.”

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

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