Prudential Financial, Inc. ( PRU ) is one of the largest financial services institutions in the United States. They provide a wide range of insurance, investment management and other financial products and services. The Prudential name and Rock logo are among the most widely recognized in the United States. They conduct their principal businesses through four divisions: U.S. Consumer, Employee Benefits, International and Asset Management.
Currently, Prudential has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company's latest earnings report. Here are 5 key statistics from this just announced report below.
1.) Missed earnings estimates. The company posted $2.40, just missing our Zacks Consensus Estimate of $2.43. The posted figure excludes $0.29 from non-recurring items.
2.) Missed revenue estimates. The company saw revenue figures of $9.526 billion, missing our estimate of $11.099 billion.
3.) After-tax adjusted operating income for Prudential for the quarter was $1.110 billion.
4.) "Despite volatility in the macro-economic environment and continued interest rate headwinds, our domestic and international businesses continue to produce strong earnings and solid sales and net flows. We produced 12% constant currency sales growth in our International businesses, as well as strong sales growth in our U.S. protection businesses. Asset Management produced more than $3 billion of third party net flows and Retirement generated over $2 billion of net flows, benefiting from a large full service case win in the quarter" said Chairman and Chief Executive Officer John Strangfeld.
5.) PRU was down $0.04, or 0.05%, to $84.46 as of 4:52 PM ET in after hours trading shortly after its earnings report was released.
Here is a graph of Prudential Financial's recent earnings history:
Check back later for our full analysis on Prudential's third quarter earnings report!
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