Prudential Financial (NYSE: PRU) reported Q1 EPS of $3.00, $0.16 worse than the analyst estimate of $3.16.

• Net income attributable to Prudential Financial of $932 million or $2.22 per Common share versus $1.363 billion or $3.14 per share for the year-ago quarter.
• After-tax adjusted operating income of $1.259 billion or $3.00 per Common share versus $1.340 billion or $3.08 per share for the year-ago quarter.
• Notable items for the current quarter resulted in a net charge to net income and after-tax adjusted operating income of $8 million or $0.02 per Common share, as discussed later in this release.
• Net income and after-tax adjusted operating income in the current quarter also included higher deferred and long-term employee compensation expenses in Corporate & Other Operations and PGIM, from market appreciation and seasonal impacts, that resulted in a net charge of $95 million or $0.22 per Common share.

Charles Lowrey, Chairman and CEO, commented on results:

“The first quarter of 2019 marked a solid start to the year for Prudential. We accelerated our strategy to bring greater financial opportunity to more customers. We produced an adjusted operating return on equity, at the higher end of our 12-13% target, increased our book value per share, and generated good business fundamentals.

With a foundation of a rock-solid balance sheet, we continued to return capital totaling $915 million to shareholders via share repurchases and dividends.”

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