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Prudential (PRU) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Prudential (PRU - Free Report) reported $12.64 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 8.2%. EPS of $2.94 for the same period compares to $1.74 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $12.68 billion, representing a surprise of -0.29%. The company delivered an EPS surprise of -3.29%, with the consensus EPS estimate being $3.04.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Prudential performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total PGIM assets under management (at fair market value): 1265.8 billion versus the three-analyst average estimate of 1209.5 billion.
AUM - Retail customers: 324.1 billion versus the three-analyst average estimate of 294.4 billion.
AUM - Institutional customers: 556.7 billion versus the three-analyst average estimate of 545 billion.
AUM - General account: 385 billion versus 357.3 billion estimated by two analysts on average.
Total Revenues- U.S. Businesses: $7.02 billion versus the four-analyst average estimate of $7.34 billion.
Total Revenues- International Businesses: $4.72 billion versus $4.50 billion estimated by four analysts on average.
Policy charges and fee income- Total: $1.03 billion versus $1.21 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -36.1% change.
Asset management fees and other income- Total: $1.43 billion compared to the $1.49 billion average estimate based on five analysts. The reported number represents a change of -37.4% year over year.
Premiums- Total: $6.37 billion versus $6.42 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -4% change.
Net investment income- Total: $3.81 billion compared to the $3.66 billion average estimate based on five analysts. The reported number represents a change of +17.7% year over year.
Revenue- Gibraltar Life and Other operations: $2.34 billion compared to the $2.25 billion average estimate based on four analysts. The reported number represents a change of +1.3% year over year.
Revenue- Life Planner operations: $2.38 billion versus $2.26 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.8% change.
Shares of Prudential have returned +8.2% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Prudential (PRU) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Prudential (PRU - Free Report) reported $12.64 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 8.2%. EPS of $2.94 for the same period compares to $1.74 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $12.68 billion, representing a surprise of -0.29%. The company delivered an EPS surprise of -3.29%, with the consensus EPS estimate being $3.04.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Prudential performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total PGIM assets under management (at fair market value): 1265.8 billion versus the three-analyst average estimate of 1209.5 billion.
- AUM - Retail customers: 324.1 billion versus the three-analyst average estimate of 294.4 billion.
- AUM - Institutional customers: 556.7 billion versus the three-analyst average estimate of 545 billion.
- AUM - General account: 385 billion versus 357.3 billion estimated by two analysts on average.
- Total Revenues- U.S. Businesses: $7.02 billion versus the four-analyst average estimate of $7.34 billion.
- Total Revenues- International Businesses: $4.72 billion versus $4.50 billion estimated by four analysts on average.
- Policy charges and fee income- Total: $1.03 billion versus $1.21 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -36.1% change.
- Asset management fees and other income- Total: $1.43 billion compared to the $1.49 billion average estimate based on five analysts. The reported number represents a change of -37.4% year over year.
- Premiums- Total: $6.37 billion versus $6.42 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -4% change.
- Net investment income- Total: $3.81 billion compared to the $3.66 billion average estimate based on five analysts. The reported number represents a change of +17.7% year over year.
- Revenue- Gibraltar Life and Other operations: $2.34 billion compared to the $2.25 billion average estimate based on four analysts. The reported number represents a change of +1.3% year over year.
- Revenue- Life Planner operations: $2.38 billion versus $2.26 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.8% change.
View all Key Company Metrics for Prudential here>>>Shares of Prudential have returned +8.2% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.