Prudential Financial Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Prudential Financial (NYSE:PRU) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$18.4b (up 120% from 3Q 2023).
• Net income: US$443.0m (up from US$807.0m loss in 3Q 2023).
• Profit margin: 2.4% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue.
• EPS: US$1.24 (up from US$2.23 loss in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Prudential Financial Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 31%. Earnings per share (EPS) missed analyst estimates by 63%.

Looking ahead, revenue is expected to decline by 4.2% p.a. on average during the next 3 years, while revenues in the Insurance industry in the US are expected to grow by 5.1%.

Performance of the American Insurance industry.

The company's share price is broadly unchanged from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on Prudential Financial's balance sheet health.

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