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Prudential (PRU) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2023, Prudential (PRU - Free Report) reported revenue of $10.13 billion, down 53.1% over the same period last year. EPS came in at $3.44, compared to $2.13 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $12.91 billion, representing a surprise of -21.57%. The company delivered an EPS surprise of +8.86%, with the consensus EPS estimate being $3.16.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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): 1218.6 billion compared to the 1220.76 billion average estimate based on three analysts.
AUM - Retail customers: 312.5 billion compared to the 308.72 billion average estimate based on three analysts.
AUM - Institutional customers: 547.6 billion versus the three-analyst average estimate of 541.06 billion.
AUM - General account: 358.5 billion versus the two-analyst average estimate of 370.25 billion.
Total Revenues- U.S. Businesses: $4.54 billion versus the four-analyst average estimate of $7.09 billion.
Total Revenues- International Businesses: $4.57 billion compared to the $4.74 billion average estimate based on four analysts.
Policy charges and fee income- Total: $1.06 billion compared to the $1.19 billion average estimate based on five analysts. The reported number represents a change of -17.1% year over year.
Asset management fees and other income- Total: $1.51 billion compared to the $1.47 billion average estimate based on five analysts. The reported number represents a change of -3% year over year.
Premiums- Total: $3.66 billion versus the five-analyst average estimate of $6.52 billion.
Net investment income- Total: $3.89 billion versus the five-analyst average estimate of $3.78 billion. The reported number represents a year-over-year change of +27.8%.
Revenue- Gibraltar Life and Other operations: $2.21 billion compared to the $2.36 billion average estimate based on four analysts. The reported number represents a change of -11.8% year over year.
Revenue- Life Planner operations: $2.36 billion versus $2.38 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +0.1% change.
Shares of Prudential have returned +0.1% over the past month versus the Zacks S&P 500 composite's -2.2% 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) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Prudential (PRU - Free Report) reported revenue of $10.13 billion, down 53.1% over the same period last year. EPS came in at $3.44, compared to $2.13 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $12.91 billion, representing a surprise of -21.57%. The company delivered an EPS surprise of +8.86%, with the consensus EPS estimate being $3.16.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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): 1218.6 billion compared to the 1220.76 billion average estimate based on three analysts.
- AUM - Retail customers: 312.5 billion compared to the 308.72 billion average estimate based on three analysts.
- AUM - Institutional customers: 547.6 billion versus the three-analyst average estimate of 541.06 billion.
- AUM - General account: 358.5 billion versus the two-analyst average estimate of 370.25 billion.
- Total Revenues- U.S. Businesses: $4.54 billion versus the four-analyst average estimate of $7.09 billion.
- Total Revenues- International Businesses: $4.57 billion compared to the $4.74 billion average estimate based on four analysts.
- Policy charges and fee income- Total: $1.06 billion compared to the $1.19 billion average estimate based on five analysts. The reported number represents a change of -17.1% year over year.
- Asset management fees and other income- Total: $1.51 billion compared to the $1.47 billion average estimate based on five analysts. The reported number represents a change of -3% year over year.
- Premiums- Total: $3.66 billion versus the five-analyst average estimate of $6.52 billion.
- Net investment income- Total: $3.89 billion versus the five-analyst average estimate of $3.78 billion. The reported number represents a year-over-year change of +27.8%.
- Revenue- Gibraltar Life and Other operations: $2.21 billion compared to the $2.36 billion average estimate based on four analysts. The reported number represents a change of -11.8% year over year.
- Revenue- Life Planner operations: $2.36 billion versus $2.38 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +0.1% change.
View all Key Company Metrics for Prudential here>>>Shares of Prudential have returned +0.1% over the past month versus the Zacks S&P 500 composite's -2.2% 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.