PFG · Principal Financial Group Q2 FY2026 earnings call record财报电话会记录

“Adjusted non-GAAP earnings per share increased 17% year-over-year and 15% on a year-to-date basis, both above the high end of our target range.”

“This was supported by strong enterprise earnings growth of 13%, with 6% net revenue growth and 200 basis points of margin expansion.”

“In the second quarter, we returned nearly $430 million of capital to shareholders, including $250 million in share repurchases and nearly $180 million in common stock dividends.”

“This brought our total capital return to shareholders to $800 million through the first half of the year, with $450 million of share repurchases and $350 million of common stock dividends.”

“Our customers continue to consolidate retirement savings onto our platform, resulting in $1.7 billion of roll-ins during the quarter and more than $7 billion over the trailing 12 months, both up nearly 20%.”

“Moving to key highlights, investment management gross sales increased 2% year-over-year and 13% on a trailing 12-month basis, supported by client demand for our investment capabilities and the strength of our distribution relationships.”

“The company has over 25,000 employer customers and generated $175 million of premium in 2025.”

“This acquisition strengthens our position in the SMB segment by expanding our customer reach and adding digital-first distribution capabilities, a powerful complement to our existing benefits platform.”

“Importantly, the transaction remains aligned with our overall capital framework with no change to our 2026 capital deployment plan or EPS growth targets.”

“Excluding these items, non-GAAP operating earnings were $529 million, up 13% year-over-year, while earnings per share of $2.42 increased 17%, above the high end of our target range.”

“Total company margin of 32% expanded 200 basis points on net revenue growth of 6%.”

“In the second quarter, we returned $427 million to shareholders including $250 million of share repurchases and $177 million of dividends.”