Press release
Principal Financial Group® Announces Full Year and Fourth Quarter 2022 Results
Declares first quarter 2023 common stock dividend Company Highlights Full year 2022 net income attributable to PFG of $4.8 billion, or $18.85 per diluted
About this update from Principal Financial Group Inc
[{"type":"text","content":"\nDeclares first quarter 2023 common stock dividend \n\nCompany Highlights\n\n\nFull year 2022 net income attributable to PFG of $4.8 billion, or $18.85 per diluted share, includes $3.3 billion of income from exited business. Fourth quarter 2022 net loss attributable to Principal Financial Group®, Inc. (PFG) of $10 million, or $0.04 per diluted share, includes $514 million of loss from exited business.\n\n\nFull year 2022 non-GAAP operating earnings of $1.7 billion, or $6.66 per diluted share. Fourth quarter 2022 non-GAAP operating earnings1 of $422 million, or $1.70 per diluted share.\n\n\nDeployed $2.8 billion of capital for full year 2022, including $2.3 billion to shareholders. Deployed $0.6 billion of capital in the fourth quarter 2022, including $0.4 billion to shareholders.\n\n\nAssets under management (AUM) of $635 billion, which is included in assets under administration (AUA) of $1.5 trillion.\n\n\nCompany declares first quarter 2023 common stock dividend of $0.64 per share.\n\n\n DES MOINES, Iowa--(BUSINESS WIRE)--\nPrincipal Financial Group® (Nasdaq: PFG) announced results for full year and fourth quarter of 2022.\n\n\nNon-GAAP net income attributable to PFG excluding loss from exited business1 for the 12 months ending Dec. 31, 2022 of $1,507.6 million, compared to $1,710.6 million for the 12 months ending Dec. 31, 2021. Non-GAAP net income excluding loss from exited business per diluted share of $5.90 for the 12 months ending Dec. 31, 2022 compared to net income per diluted share of $6.27, for the 12 months ending Dec. 31, 2021. Non-GAAP net income attributable to PFG excluding loss from exited business for fourth quarter 2022 of $504.4 million, or $2.03 per diluted share, compared to $471.8 million, or $1.76 per diluted share, in the prior year quarter.\n\n\nNon-GAAP operating earnings for the 12 months ending Dec. 31, 2022 of $1,700.9 million, compared to $1,847.6 million for the 12 months ending Dec. 31, 2021. Non-GAAP operating earnings per diluted share of $6.66 for the 12 months ending Dec. 31, 2022 compared to $6.77 for the 12 months ending Dec. 31, 2021. Non-GAAP operating earnings for fourth quarter 2022 of $422.3 million, or $1.70 per diluted share, compared to $498.4 million for fourth quarter 2021 or $1.85 per diluted share, in the prior year quarter\n\n\nQuarterly common stock dividend of $0.64 per shar...