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Principal Financial Group 8-K Report, Financial Results (Oct 27, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed October 27, 2025
Period End
October 27, 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 October 27, 2025. Cited figures are marked; the original filing is the authoritative source.

Principal Financial Group reported third-quarter 2025 results on October 27, 2025.

GAAP net income attributable to PFG was $213.8 milliona, or $0.95 per diluted share, compared with a net loss of $(220.0) million, or $(0.95) per diluted share, in the prior-year quarter. Non-GAAP operating earnings were $473.7 million, or $2.10 per diluted share, up 19% from $1.76. Excluding significant variances, non-GAAP operating earnings per diluted share were $2.32, up 13% from $2.05.

The filing identifies significant variances in the quarter, including lower-than-expected variable investment income and the impact of the 2025 actuarial assumption review. By segment, Retirement and Income Solutions pre-tax operating earnings were $310.3 millionb, up 26% from $246.1 million, and Specialty Benefits pre-tax operating earnings were $155.5 million, up 53%. Investment Management pre-tax operating earnings rose 9% to $173.5 million, and International Pension pre-tax operating earnings fell 8% to $101.2 million.

Life Insurance posted a pre-tax operating loss of $(69.0) million, compared with a loss of $(37.3) million a year earlier. Capital returns totaled $398 millionc in the quarter, including $225 million of share repurchases and $173 million of common stock dividends. The company reported $1.6 billion of excess and available capital and said it remains confident in achieving its full-year guidance.

Assets under management were $784.3 billiond, and assets under administration were $1,792.5 billion. Book value per common share was $52.90, or $55.93 excluding the cumulative change in fair value of funds withheld embedded derivative and AOCI other than foreign currency translation adjustment.

02—Key points

Key Highlights

  1. GAAP net income attributable to PFG was $213.8 million, or $0.95 per diluted share, versus a net loss of $(220.0) million, or $(0.95) per diluted share, in 3Q24.
  2. Non-GAAP operating earnings were $2.10 per diluted share, up 19%. Excluding significant variances, they were $2.32 per diluted share, up 13%.
  3. Specialty Benefits pre-tax operating earnings rose 53% to $155.5 million, and Retirement and Income Solutions pre-tax operating earnings rose 26% to $310.3 million.
  4. Returned $398 million to shareholders, including $225 million of share repurchases and $173 million of common stock dividends.
  5. Raised the fourth-quarter 2025 common stock dividend to $0.79 per share, a 1-cent increase over 3Q25 and an 8% increase over 4Q24.
  6. Reported $1.6 billion of excess and available capital; AUM was $784.3 billion and AUA was $1,792.5 billion.
  7. Life Insurance posted a pre-tax operating loss of $(69.0) million, driven by less favorable mortality, and significant variances included the impact of the 2025 actuarial assumption review.

03—Questions

Frequently Asked Questions

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

    GAAP net income attributable to PFG was $213.8 million, or $0.95 per diluted share, compared with a net loss of $(220.0) million in 3Q24. Non-GAAP operating earnings were $473.7 million, or $2.10 per diluted share, up 19% from $1.76 a year earlier.

  2. What are the significant variances that affected 3Q25 results?

    The filing cites lower-than-expected variable investment income in Retirement and Income Solutions, International Pension, Specialty Benefits, and Life Insurance, partly offset by higher-than-expected variable investment income in Corporate. It also cites the impact of higher-than-expected encaje performance and Latin American inflation in International Pension, and the impacts of the 2025 actuarial assumption review. Excluding these variances, non-GAAP operating earnings were $2.32 per diluted share.

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

    The company is announcing a fourth-quarter 2025 cash dividend of $0.79 per share, a 1-cent increase over 3Q25 and an 8% increase over 4Q24. The dividend is payable December 19, 2025, to shareholders of record as of December 3, 2025.

  4. How much capital did the company return to shareholders, and how much capacity does it have?

    The company returned $398 million in the quarter, including $225 million of share repurchases and $173 million of common stock dividends. It reported $1.6 billion of excess and available capital.

  5. What is the company's outlook?

    Management said that, based on year-to-date execution and continued business momentum, it remains confident in achieving its full-year guidance and advancing its strategic initiatives. A conference call to discuss the results is scheduled for October 28, 2025, at 10:00 a.m. ET.

04—Continue

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