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Principal Financial Group 8-K Report, Financial Results (Jul 28, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed July 28, 2025
Period End
July 28, 2025
Security
PFG
In the record · 2016–202610-K1110-Q338-K163

PFG filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 163 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Sep ’18Sep ’18
  2. Leadership change8-K · Sep ’20Sep ’20
  3. Material agreement8-K · Oct ’22Oct ’22
  4. Material agreement8-K · Sep ’26Sep ’26

01—Abstract

Summary

Summary of the 8-K filed July 28, 2025. Cited figures are marked; the original filing is the authoritative source.

Principal Financial Group, Inc. (Nasdaq: PFG) reported second quarter 2025 results on July 28, 2025, according to an Item 2.02 disclosure furnishing its earnings release as Exhibit 99.

GAAP net income attributable to PFG was $406.2 milliona, or $1.79 per diluted share, up from $353.1 million, or $1.49 per diluted share, in 2Q24. Non-GAAP operating earnings were $489.3 million, or $2.16 per diluted share, compared with $386.1 million, or $1.63, a year earlier. Excluding significant variances, non-GAAP operating earnings per diluted share were $2.07, which the company describes as an 18% increase over the prior year quarter.

The company returned $320 millionb of capital to shareholders in the quarter, including $150 million of share repurchases and $170 million of common stock dividends, and reported $1.4 billion of excess and available capital. Assets under management were $752.7 billion and assets under administration were $1,737.8 billion at quarter end. Management highlighted the return to a ROE at the midpoint of its targeted range.

Net cash flow for AUM was negative $2.6 billionc in the quarter. The company also announced a third quarter 2025 common stock dividend of $0.78 per share, a 2-cent increase over the second quarter dividend and an 8% increase over the third quarter 2024 dividend, payable September 26, 2025, to holders of record as of September 4, 2025.

Segment results were mixed: Retirement and Income Solutions pre-tax operating earnings rose 9% to $292.1 milliond, Investment Management pre-tax operating earnings rose 18% to $157.9 million, and Life Insurance pre-tax operating earnings fell 15% to $20.0 million. Management will discuss results on a conference call on July 29, 2025.

02—Key points

Key Highlights

  1. GAAP net income attributable to PFG rose 15% to $406.2 million ($1.79 per diluted share) in 2Q25 versus $353.1 million ($1.49) in 2Q24.
  2. Non-GAAP operating earnings were $489.3 million ($2.16 per diluted share), up 27% from $386.1 million ($1.63), and $2.07 per diluted share excluding significant variances, up 18%.
  3. Capital returned to shareholders totaled $320 million in the quarter: $150 million in share repurchases and $170 million in common stock dividends.
  4. Third quarter 2025 common stock dividend raised to $0.78 per share, a 2-cent increase over the second quarter and an 8% increase over the prior-year third quarter dividend.
  5. The company reported $1.4 billion of excess and available capital, and AUM of $752.7 billion within AUA of $1,737.8 billion.
  6. Investment Management pre-tax operating earnings rose 18% to $157.9 million, with operating margin improving to 37.5% from 33.9%.
  7. Life Insurance pre-tax operating earnings declined 15% to $20.0 million due to higher claims severity, and AUM net cash flow was negative $2.6 billion.

03—Questions

Frequently Asked Questions

  1. How did Principal Financial Group perform in the second quarter of 2025?

    GAAP net income attributable to PFG was $406.2 million, or $1.79 per diluted share, up from $353.1 million, or $1.49, a year earlier. Non-GAAP operating earnings were $489.3 million, or $2.16 per diluted share, compared with $1.63 in 2Q24.

  2. What is the new dividend and when is it payable?

    The company declared a third quarter 2025 cash dividend of $0.78 per share, payable September 26, 2025, to shareholders of record as of September 4, 2025. This is a 2-cent increase over the second quarter 2025 dividend.

  3. How much capital did the company return to shareholders?

    Principal returned $320 million to shareholders in the quarter, consisting of $150 million in share repurchases and $170 million in common stock dividends. The company stated it has $1.4 billion of excess and available capital.

  4. Which business segments drove results?

    Investment Management pre-tax operating earnings rose 18% to $157.9 million on higher management and performance fees, and Retirement and Income Solutions pre-tax operating earnings rose 9% to $292.1 million. Life Insurance pre-tax operating earnings fell 15% to $20.0 million due to higher claims severity.

  5. When will management discuss the results?

    Management, led by CEO Deanna Strable and CFO Joel Pitz, will hold a live conference call on Tuesday, July 29, 2025, at 10:00 a.m. ET, with a webcast and transcript available at investors.principal.com.

04—Continue

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