Prudential Financial (PRU) Tops Q2 EPS by 82c

Prudential Financial (NYSE: PRU) reported Q2 EPS of $3.79, $0.82 better than the analyst estimate of $2.97.

• Net income attributable to Prudential Financial, Inc. of $2.158 billion or $5.40 per Common share versus net loss of $2.409 billion or $6.12 per share for the year-ago quarter. The current quarter included a net after-tax benefit from our annual assumption update and other refinements of $180 million or $0.46 per Common share versus a charge of $84 million or $0.21 per share in the year-ago quarter.
• After-tax adjusted operating income of $1.514 billion or $3.79 per Common share versus $740 million or $1.85 per share for the year-ago quarter. The current quarter included a net after-tax charge from our annual assumption update and other refinements of $27 million or $0.07 per Common share versus $266 million or $0.66 per share in the year-ago quarter.
• Book value per Common share of $160.31 versus $165.53 per share for the year-ago; adjusted book value per Common share of $104.39 versus $92.07 per share for the year-ago.
• Parent company highly liquid assets of $4.9 billion versus $4.5 billion for the year-ago.
• Assets under management of $1.730 trillion versus $1.605 trillion for the year-ago.
• Capital returned to shareholders of $1.335 billion in the quarter, including $875 million of share repurchases and dividends of $1.15 per Common share, representing a 4% yield on adjusted book value, versus $441 million in the year-ago quarter.
• As previously announced, the Company’s Board of Directors has authorized the repurchase of an additional $0.5 billion of its outstanding Common Stock, increasing the authorization to up to $2.5 billion from January 1, 2021 through December 31, 2021.

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

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