Prudential Financial Earnings Cheat Sheet: Profit Slides Again

S&P 500 (NYSE:SPY) component Prudential Financial, Inc. (NYSE:PRU) reported its results for the second quarter. Prudential Financial, Inc. offers a wide range of financial products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management and real estate services.

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Prudential Financial Earnings Cheat Sheet for the Second Quarter

Results: Net income for the life insurance company fell to $838 million ($1.68 per share) vs. $1.08 billion ($1.70 per share) a year earlier. This is a decline of 22.2% from the year earlier quarter.

Actual vs. Wall St. Expectations: PRU beat the mean analyst estimate of $1.55 per share.

Quoting Management: “We are pleased with our strong results for the second quarter, driven by solid performance across our businesses and substantial earnings growth in each of our operating divisions. Our robust business fundamentals reflect the effective execution of tactics and strategies that are enhancing our earnings power and achieving our objectives in the markets that we serve. Differentiation in talent and businesses is evident in our quarterly results. We are continuing to build our franchise by providing innovative solutions for protection and retirement income security needs, and our sustained commitment to our selected markets has enhanced our value proposition to clients and distribution partners. Our organic business growth in U.S. and international markets is bolstered by the expanded distribution opportunities and client base from the Star and Edison businesses we acquired in Japan earlier this year, with business integration on track,” said Chairman and Chief Executive Officer John Strangfeld.

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 21 cents in the first quarter, by 30 cents in the fourth quarter of the last fiscal year, and by 69 cents in the third quarter of the last fiscal year.

The company has now seen net income fall in each of the last three quarters. In the first quarter, net income fell 12.8% from the year earlier, while the figure fell 90.5% in the fourth quarter of the last fiscal year.

Competitors to Watch: MetLife, Inc. (NYSE:MET), ING Groep N.V. (NYSE:ING), Prudential Public Ltd. Co. (NYSE:PUK), Torchmark Corporation (NYSE:TMK), Lincoln National Corp. (NYSE:LNC), StanCorp Financial Group, Inc. (NYSE:SFG), Delphi Financial Group, Inc. (NYSE:DFG), Primerica, Inc. (NYSE:PRI), AFLAC Incorporated (NYSE:AFL), and CNO Financial Group, Inc. (NYSE:CNO).

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(Source: Xignite Financials)