NYSE$PRU
Prudential Financial Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Prudential's Q1 2022 results were announced, revealing a net loss but solid operating earnings driven by strong variable investment income.
Prudential Financial reported a net loss of $31 million, or $0.10 per share, compared to a net income of $2.828 billion, or $6.98 per share, in the same quarter last year. After-tax adjusted operating income was $1.218 billion, or $3.17 per share, versus $1.618 billion, or $3.99 per share, for the year-ago quarter. The results reflect solid operating earnings, including strong variable investment income, offsetting the impact of elevated COVID-19 mortality.
- Net loss attributable to Prudential Financial, Inc. was $31 million, or $0.10 per Common share.
- After-tax adjusted operating income reached $1.218 billion, or $3.17 per Common share.
- Assets under management totaled $1.620 trillion.
- Capital returned to shareholders amounted to $837 million, including $375 million in share repurchases and $462 million in dividends.
Headline financials
Revenue & EPS history
Prudential · Revenue · Quarterly
$13.2B
Revenue by segment
Prudential · $1.57B total across 4 segments · Q1 2022
- U.S. Businesses$943M—60.2%
- International Businesses$801M-8.0%51.1%
- PGIM$188M-71.1%12.0%
- Corporate & Other-$366M-28.0%-23.4%
Forward guidance
The company is focused on becoming a higher growth, less market sensitive, and more nimble company. They are making progress on their $750 million cost savings plan and investing in solutions and customer experience to drive sustainable business growth.
Tailwinds
- Delivered solid operating earnings for the first quarter.
- Strong variable investment income more than offset the impact of elevated COVID-19 mortality.
- Completed the sales of our Full Service business and a portion of our traditional variable annuities block.
- Advanced our emerging markets strategy by reaching an agreement to acquire a minority stake in South Africa’s Alexander Forbes.
- Made further progress towards completing our $750 million cost savings plan.
Headwinds
- Net loss attributable to Prudential Financial, Inc. of $31 million or $0.10 per Common share.
- After-tax adjusted operating income of $1.218 billion or $3.17 per Common share versus $1.618 billion or $3.99 per share for the year-ago quarter.
- Book value per Common share of $115.28 versus $145.05 per share for the year-ago quarter.
- PGIM assets under management of $1.415 trillion were down 2% from the year-ago quarter, reflecting the impact of rising interest rates and spreads on fixed income assets and unfavorable foreign exchange impacts.
- Net outflows in the current quarter totaled $2.6 billion as withdrawals and benefits exceeded sales of $2.3 billion, reflecting the episodic nature of Funded Pension Risk Transfer and International Reinsurance transactions that totaled $0.7 billion in the quarter.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
-0.5%
Avg return
Earnings day
-0.8%
Avg return
5 days after
-0.2%
Avg return
30 days after
48%
35 / 73 earnings
Positive
+7.5%
Q3 2009
Best reaction
-13.2%
Q1 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.0% | -0.8% | +4.4% | |
| Q4 2025 | -2.3% | -4.6% | -9.4% | |
| Q3 2025 | +1.9% | +3.8% | +7.0% | |
| Q2 2025 | -2.8% | +0.5% | +5.9% | |
| Q1 2025 | -1.2% | -0.8% | +1.1% | |
| Q4 2024 | -3.3% | -5.0% | -5.7% | |
| Q3 2024 | -2.2% | -3.7% | +3.3% | |
| Q2 2024 | -12.0% | -14.6% | -3.3% | |
| Q1 2024 | +0.3% | +0.3% | +5.9% | |
| Q4 2023 | +6.2% | +2.8% | +7.8% | |
| Q3 2023 | +0.3% | +0.4% | +6.9% | |
| Q2 2023 | -1.2% | +0.0% | -1.9% | |
| Q1 2023 | -5.7% | -4.9% | -7.2% | |
| Q4 2022 | +2.2% | +0.9% | -11.2% | |
| Q3 2022 | +0.1% | -0.1% | +2.4% | |
| Q2 2022 | -2.8% | -3.2% | -4.7% | |
| Q1 2022 | +2.9% | -1.6% | -2.5% | |
| Q4 2021 | +3.1% | +5.7% | -7.3% | |
| Q3 2021 | +2.3% | -0.4% | -7.1% | |
| Q2 2021 | -0.3% | +4.6% | +4.8% | |
| Q1 2021 | +2.7% | +4.4% | +6.7% | |
| Q4 2020 | -1.0% | +0.6% | +12.0% | |
| Q3 2020 | -4.3% | -3.6% | +19.6% | |
| Q2 2020 | +4.3% | +5.5% | +5.6% | |
| Q1 2020 | -8.1% | +0.2% | +11.2% | |
| Q4 2019 | +4.5% | +3.5% | -21.0% | |
| Q3 2019 | -1.0% | -0.1% | -2.4% | |
| Q2 2019 | -11.0% | -16.0% | -21.7% | |
| Q1 2019 | -3.7% | -3.5% | -12.6% | |
| Q4 2018 | -1.8% | -1.6% | +0.3% | |
| Q3 2018 | -1.4% | -4.8% | -12.7% | |
| Q2 2018 | -1.0% | -1.2% | -2.6% | |
| Q1 2018 | -8.0% | -5.3% | -6.9% | |
| Q4 2017 | -6.9% | -2.8% | -0.6% | |
| Q3 2017 | +2.2% | +1.7% | +4.5% | |
| Q2 2017 | -3.6% | -2.4% | -9.8% | |
| Q1 2017 | +1.5% | +0.7% | -1.1% | |
| Q4 2016 | +1.7% | +3.0% | +4.2% | |
| Q3 2016 | +3.0% | +5.5% | +20.8% | |
| Q2 2016 | -1.5% | +4.5% | +7.5% | |
| Q1 2016 | -2.1% | — | — | |
| Q4 2015 | -8.8% | — | — | |
| Q3 2015 | -0.8% | — | — | |
| Q2 2015 | -0.5% | — | — | |
| Q1 2015 | +2.1% | — | — | |
| Q4 2014 | -6.0% | — | — | |
| Q3 2014 | -3.4% | — | — | |
| Q2 2014 | +0.8% | — | — | |
| Q1 2014 | +3.9% | — | — | |
| Q4 2013 | -0.3% | — | — | |
| Q3 2013 | +2.8% | — | — | |
| Q2 2013 | -0.4% | — | — | |
| Q1 2013 | +4.9% | — | — | |
| Q4 2011 | -0.7% | — | — | |
| Q4 2012 | -2.7% | — | — | |
| Q3 2012 | -9.1% | — | — | |
| Q2 2012 | +3.6% | — | — | |
| Q1 2012 | -13.2% | — | — | |
| Q2 2011 | -1.0% | — | — | |
| Q3 2011 | +0.5% | — | — | |
| Q1 2011 | +1.3% | — | — | |
| Q2 2010 | +2.8% | — | — | |
| Q4 2010 | +2.8% | — | — | |
| Q3 2010 | -1.1% | — | — | |
| Q1 2009 | +4.3% | — | — | |
| Q1 2010 | +2.7% | — | — | |
| Q4 2009 | +2.3% | — | — | |
| Q4 2007 | +2.3% | — | — | |
| Q3 2008 | +7.5% | — | — | |
| Q3 2009 | +7.5% | — | — | |
| Q4 2008 | +2.9% | — | — | |
| Q2 2009 | +2.9% | — | — | |
| Q2 2008 | +2.9% | — | — |
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