Yahoo Finance Principal Financial Group First Quarter 2024 Earnings: Beats Expectations
Principal Financial Group (NASDAQ:PFG) First Quarter 2024 Results
Key Financial Results
Revenue: US$4.05b (up 44% from 1Q 2023).
Net income: US$532.5m (up from US$140.1m loss in 1Q 2023).
Profit margin: 13% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue.
EPS: US$2.25 (up from US$0.58 loss in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Principal Financial Group Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 31%.
Looking ahead, revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Insurance industry in the US.
Performance of the American Insurance industry.
The company's shares are down 1.6% from a week ago.
Risk Analysis
Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Principal Financial Group that you should be aware of.
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