We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Prudential (PRU) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Read MoreHide Full Article
For the quarter ended March 2024, Prudential (PRU - Free Report) reported revenue of $21.7 billion, up 43.7% over the same period last year. EPS came in at $3.12, compared to $2.66 in the year-ago quarter.
The reported revenue represents a surprise of +46.85% over the Zacks Consensus Estimate of $14.78 billion. With the consensus EPS estimate being $3.16, the EPS surprise was -1.27%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Prudential performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
AUM - Institutional customers: 616.6 billion versus 594.98 billion estimated by three analysts on average.
AUM - Retail customers: 345.4 billion versus 338.66 billion estimated by three analysts on average.
Total assets under management and administration: 1678.9 billion versus the two-analyst average estimate of 1666.28 billion.
Assets Under Management (at fair market value) - U.S. Businesses: 126.3 billion versus 121.68 billion estimated by two analysts on average.
Total Revenues- U.S. Businesses: $15.97 billion versus $9 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +75.9% change.
Total Revenues- International Businesses: $4.71 billion compared to the $5.16 billion average estimate based on four analysts. The reported number represents a change of -6% year over year.
Revenues- PGIM: $990 million versus the four-analyst average estimate of $962.91 million. The reported number represents a year-over-year change of +10.2%.
Revenue- Individual Life: $1.58 billion versus the four-analyst average estimate of $1.64 billion.
Revenue- Group Insurance: $1.63 billion versus $1.60 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.5% change.
Revenue- Life Planner operations: $2.55 billion compared to the $2.72 billion average estimate based on four analysts. The reported number represents a change of -2.8% year over year.
Revenue- Retirement Strategies - Individual Retirement: $1.21 billion versus the four-analyst average estimate of $1.22 billion.
Revenue- Corporate and Other Operation: $30 million versus the four-analyst average estimate of $150.47 million.
Shares of Prudential have returned -3.8% over the past month versus the Zacks S&P 500 composite's -2.5% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Prudential (PRU) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2024, Prudential (PRU - Free Report) reported revenue of $21.7 billion, up 43.7% over the same period last year. EPS came in at $3.12, compared to $2.66 in the year-ago quarter.
The reported revenue represents a surprise of +46.85% over the Zacks Consensus Estimate of $14.78 billion. With the consensus EPS estimate being $3.16, the EPS surprise was -1.27%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Prudential performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- AUM - Institutional customers: 616.6 billion versus 594.98 billion estimated by three analysts on average.
- AUM - Retail customers: 345.4 billion versus 338.66 billion estimated by three analysts on average.
- Total assets under management and administration: 1678.9 billion versus the two-analyst average estimate of 1666.28 billion.
- Assets Under Management (at fair market value) - U.S. Businesses: 126.3 billion versus 121.68 billion estimated by two analysts on average.
- Total Revenues- U.S. Businesses: $15.97 billion versus $9 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +75.9% change.
- Total Revenues- International Businesses: $4.71 billion compared to the $5.16 billion average estimate based on four analysts. The reported number represents a change of -6% year over year.
- Revenues- PGIM: $990 million versus the four-analyst average estimate of $962.91 million. The reported number represents a year-over-year change of +10.2%.
- Revenue- Individual Life: $1.58 billion versus the four-analyst average estimate of $1.64 billion.
- Revenue- Group Insurance: $1.63 billion versus $1.60 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.5% change.
- Revenue- Life Planner operations: $2.55 billion compared to the $2.72 billion average estimate based on four analysts. The reported number represents a change of -2.8% year over year.
- Revenue- Retirement Strategies - Individual Retirement: $1.21 billion versus the four-analyst average estimate of $1.22 billion.
- Revenue- Corporate and Other Operation: $30 million versus the four-analyst average estimate of $150.47 million.
View all Key Company Metrics for Prudential here>>>Shares of Prudential have returned -3.8% over the past month versus the Zacks S&P 500 composite's -2.5% 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.