Principal Financial reported second-quarter 2026 results with net income attributable to the company of $403.4 million and non‑GAAP operating earnings of $547.0 million. Diluted GAAP EPS was $1.84 while non‑GAAP operating earnings per diluted share were $2.50 (or $2.42 excluding significant variances). The company also announced a third‑quarter cash dividend of $0.84 per share and returned $427 million of capital to shareholders in the quarter.

Financial Highlights

  • Net income attributable to Principal Financial: $403.4 million for 2Q26 (diluted EPS $1.84).
  • Non‑GAAP operating earnings: $547.0 million for 2Q26 (non‑GAAP operating earnings per diluted share $2.50; $2.42 excluding significant variances).
  • Non‑GAAP net income attributable to Principal Financial, excluding exited business: $535.0 million for 2Q26 (adjusted diluted EPS $2.44).
  • Returned $427 million of capital to shareholders in the quarter, including $250 million of share repurchases and $177 million of common dividends.
  • Announced third‑quarter cash dividend of $0.84 per share, payable Sept. 25, 2026 (record date Sept. 3, 2026).

Business Highlights

  • Assets under administration were $1.892 trillion and assets under management were $808.0 billion as of quarter end; AUM grew 7% year‑over‑year to $808.0 billion.
  • Retirement and Income Solutions: net revenue increased to $779.0 million and pre‑tax operating earnings rose to $323.3 million; RIS transfer deposits were $9 billion, up 30% with a 60‑basis‑point improvement in operating margin.
  • Principal Asset Management: Investment Management gross sales were $30 billion (up 2%) and AUM for the Investment Management segment reached $601.9 billion; International Pension recorded a record AUM of $168.5 billion, up 18% with notable margin improvement.
  • Benefits and Protection: Specialty Benefits sales increased 11% with an improved operating margin and an incurred loss ratio improved to 57.4%; Life Insurance showed improved mortality experience and margin expansion.
  • Maintained strong capital position with approximately $1.6 billion of excess and available capital supporting disciplined capital return and share repurchases.

Original SEC Filing:

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