Principal Financial Group (NASDAQ:PFG) Q1 2024 Results
Main financial results
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Revenue: USD 4.05 billion (44% increase compared to Q1 2023).
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Net income: USD 532.5 million (up from a loss of USD 140.1 million in Q1 2023).
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Margin: 13% (up from net loss in Q1 2023). The transition to profitability was driven by revenue growth.
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EPS: USD 2.25 (up from loss of USD 0.58 in Q1 2023).
All numbers shown in the chart above are for the trailing 12 month (TTM) period.
Sales and profits of major financial groups exceeded expectations
Sales exceeded analysts' expectations by 3.5%. Earnings per share (EPS) also exceeded analyst estimates by 31%.
Looking ahead, revenues are expected to grow by an average of 6.1% over the next three years, compared to a growth forecast of 6.0% for the U.S. insurance industry.
performance of American insurance industry.
The company's stock fell 1.6% from the previous week.
risk analysis
Remember, there may still be risks. For example, we identified 1 warning sign for Principal Financial Group What you need to know.
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