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Prudential (PRU) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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Prudential (PRU - Free Report) reported $13.02 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 2.9%. EPS of $2.58 for the same period compares to $2.42 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $13.07 billion, representing a surprise of -0.35%. The company delivered an EPS surprise of -3.37%, with the consensus EPS estimate being $2.67.
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): 1298.1 billion versus the three-analyst average estimate of 1247.16 billion.
AUM - Retail customers: 330.3 billion versus 319.5 billion estimated by three analysts on average.
AUM - Institutional customers: 582.6 billion versus the three-analyst average estimate of 566.78 billion.
AUM - General account: 385.2 billion compared to the 369.89 billion average estimate based on two analysts.
Total Revenues- U.S. Businesses: $7.47 billion versus the four-analyst average estimate of $7.11 billion. The reported number represents a year-over-year change of +7.4%.
Total Revenues- International Businesses: $4.38 billion compared to the $4.55 billion average estimate based on four analysts. The reported number represents a change of -7.9% year over year.
Revenues- PGIM: $915 million versus the four-analyst average estimate of $939.73 million. The reported number represents a year-over-year change of -4.7%.
Revenue- Individual Life: $1.59 billion compared to the $1.60 billion average estimate based on four analysts. The reported number represents a change of -5.5% year over year.
Revenue- Group Insurance: $1.55 billion versus $1.60 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.6% change.
Revenue- Life Planner operations: $2.23 billion versus the four-analyst average estimate of $2.29 billion. The reported number represents a year-over-year change of -5.3%.
Revenue- Retirement Strategies - Individual Retirement: $1.15 billion versus $1.14 billion estimated by four analysts on average.
Revenue- Corporate and Other Operation: $253 million versus $132.11 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1154.2% change.
Shares of Prudential have returned -1.7% over the past month versus the Zacks S&P 500 composite's +5.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Prudential (PRU) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
Prudential (PRU - Free Report) reported $13.02 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 2.9%. EPS of $2.58 for the same period compares to $2.42 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $13.07 billion, representing a surprise of -0.35%. The company delivered an EPS surprise of -3.37%, with the consensus EPS estimate being $2.67.
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): 1298.1 billion versus the three-analyst average estimate of 1247.16 billion.
- AUM - Retail customers: 330.3 billion versus 319.5 billion estimated by three analysts on average.
- AUM - Institutional customers: 582.6 billion versus the three-analyst average estimate of 566.78 billion.
- AUM - General account: 385.2 billion compared to the 369.89 billion average estimate based on two analysts.
- Total Revenues- U.S. Businesses: $7.47 billion versus the four-analyst average estimate of $7.11 billion. The reported number represents a year-over-year change of +7.4%.
- Total Revenues- International Businesses: $4.38 billion compared to the $4.55 billion average estimate based on four analysts. The reported number represents a change of -7.9% year over year.
- Revenues- PGIM: $915 million versus the four-analyst average estimate of $939.73 million. The reported number represents a year-over-year change of -4.7%.
- Revenue- Individual Life: $1.59 billion compared to the $1.60 billion average estimate based on four analysts. The reported number represents a change of -5.5% year over year.
- Revenue- Group Insurance: $1.55 billion versus $1.60 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.6% change.
- Revenue- Life Planner operations: $2.23 billion versus the four-analyst average estimate of $2.29 billion. The reported number represents a year-over-year change of -5.3%.
- Revenue- Retirement Strategies - Individual Retirement: $1.15 billion versus $1.14 billion estimated by four analysts on average.
- Revenue- Corporate and Other Operation: $253 million versus $132.11 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1154.2% change.
View all Key Company Metrics for Prudential here>>>Shares of Prudential have returned -1.7% over the past month versus the Zacks S&P 500 composite's +5.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.