Jun 2026 (Q2 FY26) — Aug 5, 2026
Prudential Q2 FY26 — Strategic Repositioning and Strong Earnings
Read the full callPrudential (PRU) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Prudential earnings: last reported Wed, 5 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 15,661 | +14.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 985 | +84.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
4 of 5 judged targets kept · 31 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Full year 2026 Corporate and Other loss | $1.65 billion | Mar 2026 | We are lowering our expected 2026 loss from $1.65 billion to $1.55 billion | Revised Up |
| Adjusted operating return on equity | 13% to 15% | Dec 2024 | we're still managing to the other financial targets that we have out there through 2027 | On Track |
1 of PRUDENTIAL FINANCIAL INC's 36 targets was missed. See which ones, and which are quietly gone. The 2 above are the free sample; 34 more targets are in the full ledger.
Claimed
- After-tax adjusted operating income increased 14% year-over-year to $1.4 billion or $4.08 per share.
- Year-to-date operating return on average equity increased 110 basis points to 15.5%.
- PGIM's pretax adjusted operating income grew 28% year-over-year to $294 million, with a margin of 28.2%, up 470 basis points.
- Retail annuity sales reached $3.6 billion in the quarter, a 14% increase, with retail annuity account values rising over 30% to $66 billion.
- Group Insurance delivered record quarterly pretax adjusted operating income of $155 million, up 24% year-over-year, with a total benefit ratio of 80.4%.
Qualified
- Full-year 2026 pretax adjusted operating income impact from Prudential of Japan sales suspension is expected to be $525 million to $575 million.
- Affiliated net outflows in PGIM were $3 billion, driven by variable annuities runoff.
- PRT sales remained muted in the quarter with a notable absence of jumbo transactions in the U.S. market.
- Equity outflows of approximately $5 billion in PGIM due to broader industry rotation from active to passive equity management.
Price
$113.67 −1.93% · −$2.24
Performance +12.9% 1Y
1Y: $100.67 on 17 Oct 2025 → $113.67. High $125.13 (14 Aug 2026), low $92 (13 Mar 2026).
- Previous close
- $115.91
- 52-week range
- $92 – $125.13
- One year
- +11.97%
Overview
- Symbol
- PRU
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
4 of 5 judged targets kept · 31 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Full year 2026 Corporate and Other loss | $1.65 billion | Mar 2026 | We are lowering our expected 2026 loss from $1.65 billion to $1.55 billion | Revised Up |
| Adjusted operating return on equity | 13% to 15% | Dec 2024 | we're still managing to the other financial targets that we have out there through 2027 | On Track |
Claimed
- After-tax adjusted operating income increased 14% year-over-year to $1.4 billion or $4.08 per share.
- Year-to-date operating return on average equity increased 110 basis points to 15.5%.
- PGIM's pretax adjusted operating income grew 28% year-over-year to $294 million, with a margin of 28.2%, up 470 basis points.
- Retail annuity sales reached $3.6 billion in the quarter, a 14% increase, with retail annuity account values rising over 30% to $66 billion.
- Group Insurance delivered record quarterly pretax adjusted operating income of $155 million, up 24% year-over-year, with a total benefit ratio of 80.4%.
Qualified
- Full-year 2026 pretax adjusted operating income impact from Prudential of Japan sales suspension is expected to be $525 million to $575 million.
- Affiliated net outflows in PGIM were $3 billion, driven by variable annuities runoff.
- PRT sales remained muted in the quarter with a notable absence of jumbo transactions in the U.S. market.
- Equity outflows of approximately $5 billion in PGIM due to broader industry rotation from active to passive equity management.
The full ledger
Open PRUDENTIAL FINANCIAL INC’s full ledger
A free account opens 5 company ledgers a month. All 36 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 6, 2026
Prudential Financial, Inc. Q1 FY26 — Strong Earnings Growth Despite Japan Sales Suspension
Read the full callDec 2025 (Q4 FY25) — Feb 4, 2026
Prudential Financial, Inc. Q4 FY25 — Japan Misconduct Impacts 2026 Outlook Amidst Strategic Repositioning
Read the full callEvery analysed call
Prudential earnings calls (PRU)
Financials
What the filings say
Net profit, year on year: +85% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 19,490 | 12,523 | 13,470 | 13,726 | 17,888 | 15,690 | 15,526 | 15,661 |
| Profit before tax | 553 | -149 | 920 | 740 | 1,782 | 1,214 | 733 | 1,178 |
| Tax rate | 25.3% | 124.8% | 22.5% | 26.4% | 21.4% | 22.2% | 17.6% | 18.5% |
| Net profit | 448 | -57 | 707 | 533 | 1,431 | 905 | 597 | 985 |
| EPS ($ per share) | 1.24 | — | 1.97 | 1.49 | 4.03 | — | 1.69 | 2.81 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Reserves | 30,470 | 32,991 | 30,749 | 36,652 | 31,714 | 32,352 | 33,187 | 34,831 |
| Total liabilities | 766,047 | 832,833 | 872,512 | 874,974 | 657,110 | 691,336 | 705,461 | 738,159 |
| Investments | 6,469 | 5,467 | 7,800 | — | — | — | — | — |
| Total assets | 815,078 | 896,552 | 940,722 | 937,582 | 689,029 | 721,212 | 735,587 | 773,740 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 21,664 | 19,625 | 8,368 | 9,812 | 5,158 | 6,510 | 8,502 | 6,271 |
| Cash from investing | -21,628 | -17,028 | -16,210 | -5,342 | -7,638 | -12,122 | -28,585 | -25,892 |
| Cash from financing | 781 | -1,634 | 4,883 | -3,011 | 4,933 | 7,739 | 19,394 | 20,773 |
| Net cash flow | 959 | 979 | -2,619 | -921 | 4,365 | 2,164 | -943 | 1,229 |
PRU revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| International Businesses | — | — | 35% | 32% | 26% | 28% | 31% | 30% | +6.6% |
| Retirement | — | — | — | — | — | — | 35% | 27% | — |
| Group Insurance | 8% | 12% | 13% | 12% | 9% | 10% | 11% | 11% | +1.2% |
| U S Legacy Products | — | — | — | — | — | — | 7% | 7% | — |
| Individual Life | 8% | 12% | 11% | 11% | 9% | 10% | 7% | 7% | -22.2% |
| PGIM | — | — | 7% | 8% | 6% | 7% | 7% | 7% | +6.1% |
| Corporate and Other | <1% | <1% | 0% | <1% | 1% | <1% | 0% | 1% | +158.9% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
PRU operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Net new assets PGIM | $8.6BTotal net flows in the quarter of $8.6 billion included affiliated net flows of $8.9 billion, driven by a large annuities mandate, partially offset by $300 million of third-party net outflows.Source: earnings call transcript | $4.3BThe net flows in the quarter of $4.3 billion included institutional third-party flows of $4.6 billion, driven by mandates across fixed income, private alternatives and equity, which are partially offset by modest retail third-party outflows.Source: earnings call transcript | $2.4BTotal net inflows in the quarter of $2.4 billion included affiliated net inflows of $1.8 billion and third-party net inflows of $600 million.Source: earnings call transcript | ~-$10BPGIM experienced net outflows of approximately $10 billion in the quarter across third-party and affiliated channels, reflecting the industry trend away from active equities as well as a single low fee fixed income withdrawal.Source: earnings call transcript | — | — | — |
| Net new assets PGIM Affiliated | $8.9BTotal net flows in the quarter of $8.6 billion included affiliated net flows of $8.9 billion, driven by a large annuities mandate, partially offset by $300 million of third-party net outflows.Source: earnings call transcript | — | $1.8BTotal net inflows in the quarter of $2.4 billion included affiliated net inflows of $1.8 billion and third-party net inflows of $600 million.Source: earnings call transcript | — | -$1.9BNet outflows in PGIM's affiliated channel totaled $1.9 billion, primarily driven by runoff in traditional variable annuities.Source: earnings call transcript | -$3BAffiliated net outflows were $3 billion, driven by our variable annuities runoff.Source: earnings call transcript | -57.9% |
| Net new assets PGIM Third-Party | -$300MTotal net flows in the quarter of $8.6 billion included affiliated net flows of $8.9 billion, driven by a large annuities mandate, partially offset by $300 million of third-party net outflows.Source: earnings call transcript | — | $600MTotal net inflows in the quarter of $2.4 billion included affiliated net inflows of $1.8 billion and third-party net inflows of $600 million.Source: earnings call transcript | — | $1.8BImportantly, third-party net inflows totaled $1.8 billion as strong fixed income inflows more than offset equity outflows and which, as Andy noted, remained pressured consistent with broader industry trends away from active equities.Source: earnings call transcript | $4.6BInstitutional and retail third-party net flows totaled $4.6 billion, driven primarily by strong public credit inflows.Source: earnings call transcript | +155.6% |
| Assets under management (AUM) PGIM Private Alternatives | <$250BIn addition, our diversified PGIM private alternatives platform, which has assets under management of nearly $250 billion, experienced 37% growth in private credit origination activity in 2024 compared to the prior year.Source: earnings call transcript | <$250BOur diversified PGIM Private Alternatives platform, which has assets under management of nearly $250 billion experienced over $10 billion in private capital deployment, up over 60% compared to the prior year quarter.Source: earnings call transcript | — | — | — | — | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q4 FY2024 · share of revenue
- U S Businesses 61% ↓ 7 pt
- International Businesses 34% ↑ 14 pt
As PRU cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
98 filings between Nov 10, 2025 and Aug 31, 2026.
Open market
decisions to buy or sellPurchases
$168.8K
3 purchases by 3 insiders
Sales
$9.15M
8 sales by 4 insiders
Compensation
not trading decisions- 45
- Option exercise — converted options into shares
- 39
- Tax withheld — shares kept back by the company to cover tax
Also filed: 2 dispositions to the issuer, 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Lowrey Charles F | — | $5.17M | Nov 10, 2025 |
| KAPPLER ANN M | — | $2.36M | Aug 14, 2026 |
| SCHMIDT TIMOTHY L | — | $861.5K | Dec 2, 2025 |
| Feeney Caroline | — | $762.2K | Dec 11, 2025 |
| Chappuis Jacques | $101.0K | — | Feb 6, 2026 |
| Wolk Joseph J | $42.1K | — | Feb 11, 2026 |
| Stoddard Thomas D | $25.7K | — | Feb 17, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 31, 2026 | Boyle Robert E Senior Vice President | Tax withheld | 115 | $13.5K |
| Aug 31, 2026 | Boyle Robert E Senior Vice President | Option exercise | 353 | $0 |
| Aug 14, 2026 | KAPPLER ANN M EVP and General Counsel | Sale | 7,652 | $956.6K |
| May 14, 2026 | KAPPLER ANN M EVP and General Counsel | Sale | 13,580 | $1.40M |
| May 12, 2026 | POON CHRISTINE A Director | Option exercise | 1,765 | $0 |
| May 12, 2026 | CASELLAS GILBERT F Director | Disposition to issuer | 1,765 | $181.1K |
| May 12, 2026 | POON CHRISTINE A Director | Disposition to issuer | 1,765 | $181.1K |
| May 12, 2026 | CASELLAS GILBERT F Director | Option exercise | 1,765 | $0 |
| Apr 30, 2026 | Chappuis Jacques Executive Vice President | Tax withheld | 3,411 | $334.7K |
| Apr 30, 2026 | Chappuis Jacques Executive Vice President | Option exercise | 4,165 | $0 |
| Apr 30, 2026 | Chappuis Jacques Executive Vice President | Option exercise | 6,168 | $0 |
| Apr 30, 2026 | Chappuis Jacques Executive Vice President | Tax withheld | 2,304 | $226.0K |
| Feb 28, 2026 | Boyle Robert E Senior Vice President | Tax withheld | 267 | $26.3K |
| Feb 28, 2026 | KAPPLER ANN M EVP and General Counsel | Option exercise | 2,502 | $0 |
| Feb 28, 2026 | Boyle Robert E Senior Vice President | Option exercise | 832 | $0 |
| Feb 28, 2026 | KAPPLER ANN M EVP and General Counsel | Option exercise | 2,220 | $0 |
| Feb 28, 2026 | Frias Yanela EVP and CFO | Option exercise | 2,379 | $0 |
| Feb 28, 2026 | Boyle Robert E Senior Vice President | Tax withheld | 289 | $28.4K |
| Feb 28, 2026 | Boyle Robert E Senior Vice President | Option exercise | 899 | $0 |
| Feb 28, 2026 | Frias Yanela EVP and CFO | Tax withheld | 328 | $32.3K |
| Feb 28, 2026 | SULLIVAN ANDREW F Chief Executive Officer | Tax withheld | 1,954 | $192.2K |
| Feb 28, 2026 | Frias Yanela EVP and CFO | Option exercise | 950 | $0 |
| Feb 28, 2026 | SULLIVAN ANDREW F Chief Executive Officer | Tax withheld | 1,798 | $176.9K |
| Feb 28, 2026 | Frias Yanela EVP and CFO | Tax withheld | 844 | $83.0K |
| Feb 28, 2026 | SCHMIDT TIMOTHY L Senior Vice President | Tax withheld | 724 | $71.2K |
| Feb 28, 2026 | KAPPLER ANN M EVP and General Counsel | Tax withheld | 1,034 | $101.7K |
| Feb 28, 2026 | SCHMIDT TIMOTHY L Senior Vice President | Tax withheld | 773 | $76.0K |
| Feb 28, 2026 | KAPPLER ANN M EVP and General Counsel | Tax withheld | 1,165 | $114.6K |
| Feb 28, 2026 | KAPPLER ANN M EVP and General Counsel | Option exercise | 2,349 | $0 |
| Feb 28, 2026 | KAPPLER ANN M EVP and General Counsel | Tax withheld | 1,098 | $108.0K |
| Feb 28, 2026 | Frias Yanela EVP and CFO | Tax withheld | 230 | $22.6K |
| Feb 28, 2026 | Frias Yanela EVP and CFO | Option exercise | 678 | $0 |
| Feb 28, 2026 | Case Scott Executive Vice President | Tax withheld | 951 | $93.6K |
| Feb 28, 2026 | SCHMIDT TIMOTHY L Senior Vice President | Option exercise | 1,647 | $0 |
| Feb 28, 2026 | Lowrey Charles F Chairman of the Board | Tax withheld | 5,512 | $542.3K |
| Feb 28, 2026 | Case Scott Executive Vice President | Option exercise | 2,717 | $0 |
| Feb 28, 2026 | SCHMIDT TIMOTHY L Senior Vice President | Tax withheld | 788 | $77.5K |
| Feb 28, 2026 | SCHMIDT TIMOTHY L Senior Vice President | Option exercise | 1,616 | $0 |
| Feb 28, 2026 | Lowrey Charles F Chairman of the Board | Option exercise | 10,408 | $0 |
| Feb 28, 2026 | SCHMIDT TIMOTHY L Senior Vice President | Option exercise | 1,516 | $0 |
| Feb 28, 2026 | Lowrey Charles F Chairman of the Board | Tax withheld | 5,871 | $577.6K |
| Feb 28, 2026 | SULLIVAN ANDREW F Chief Executive Officer | Option exercise | 4,035 | $0 |
| Feb 28, 2026 | Lowrey Charles F Chairman of the Board | Option exercise | 11,086 | $0 |
| Feb 28, 2026 | SULLIVAN ANDREW F Chief Executive Officer | Option exercise | 3,959 | $0 |
| Feb 28, 2026 | SULLIVAN ANDREW F Chief Executive Officer | Tax withheld | 1,916 | $188.5K |
| Feb 28, 2026 | SULLIVAN ANDREW F Chief Executive Officer | Option exercise | 3,717 | $0 |
| Feb 28, 2026 | Lowrey Charles F Chairman of the Board | Tax withheld | 5,555 | $546.5K |
| Feb 28, 2026 | Waldeck George P Jr. Executive Vice President | Option exercise | 1,768 | $0 |
| Feb 28, 2026 | Waldeck George P Jr. Executive Vice President | Tax withheld | 544 | $53.5K |
| Feb 28, 2026 | Boyle Robert E Senior Vice President | Tax withheld | 249 | $24.5K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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