Core Insights - Principal Financial (PFG) reported $4.75 billion in revenue for Q4 2024, a 12% year-over-year increase, with an EPS of $1.94 compared to $1.83 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $4.03 billion by 17.89%, while the EPS fell short of the consensus estimate of $1.95 by 0.51% [1] Financial Performance Metrics - Assets under management (AUM) reached $712.1 billion, surpassing the average estimate of $695.7 billion [4] - Revenue from premiums and other considerations was $1.83 billion, below the average estimate of $1.92 billion, reflecting an 11.9% year-over-year decline [4] - Revenue from fees and other revenues was $1.12 billion, slightly above the average estimate of $1.09 billion, marking a 7.5% year-over-year increase [4] - Net investment income was reported at $1.12 billion, below the average estimate of $1.17 billion, showing a 0.4% year-over-year decline [4] - Principal Asset Management Segment's net investment income was $163.40 million, significantly below the average estimate of $194.07 million, representing a 26% year-over-year decrease [4] - Specialty Benefits in the Benefits and Protection Segment reported total revenue of $873.30 million, exceeding the average estimate of $858.19 million, with a 4.2% year-over-year increase [4] - Life Insurance segment's premiums and other considerations were $110.90 million, below the average estimate of $124.50 million, indicating an 8% year-over-year decline [4] Stock Performance - Shares of Principal Financial have returned +2.9% over the past month, outperforming the Zacks S&P 500 composite's +2.1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Core Viewpoint - Principal Financial (PFG) reported quarterly earnings of $1.94 per share, slightly missing the Zacks Consensus Estimate of $1.95 per share, but showing an increase from $1.83 per share a year ago [1] Financial Performance - The company posted revenues of $4.75 billion for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 17.89%, compared to $4.24 billion in the same quarter last year [2] - Over the last four quarters, Principal Financial has not surpassed consensus EPS estimates, but has topped consensus revenue estimates three times [2] Stock Performance - Principal Financial shares have increased by approximately 4.1% since the beginning of the year, outperforming the S&P 500's gain of 3.1% [3] - The stock's immediate price movement will depend on management's commentary during the earnings call [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.96 on revenues of $4.04 billion, and for the current fiscal year, it is $8.36 on revenues of $16.56 billion [7] - The estimate revisions trend for Principal Financial is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Insurance - Multi line industry, to which Principal Financial belongs, is currently in the bottom 44% of over 250 Zacks industries, suggesting potential challenges ahead [8] - The performance of the stock may be influenced by the overall outlook for the industry [8]

Exhibit 99 Humphrey Lee 877-909-1105, lee.humphrey@principal.com Jane Slusark 515-362-0482, slusark.jane@principal.com INVESTOR CONTACT: MEDIA CONTACT: Principal Financial Group Announces Full Year and Fourth Quarter 2024 Results as well as 2025 Outlook Raises first quarter 2025 common stock dividend, announces $1.5 billion share repurchase authorization (Des Moines, Iowa) – Principal Financial Group (Nasdaq: PFG) announced results for full year and fourth quarter 2024. | Diluted earnings per common share | ...

Core Viewpoint - Principal Financial (PFG) is expected to report quarterly earnings of $1.95 per share, reflecting a 6.6% increase year-over-year, while revenues are forecasted to decline by 5% to $4.03 billion [1] Earnings Estimates - The consensus EPS estimate has been revised upward by 0.9% in the last 30 days, indicating analysts' reassessment of their initial projections [2] - Revisions to earnings projections are crucial for predicting investor behavior and are linked to short-term stock price performance [3] Revenue Projections - Analysts estimate 'Revenue- Premiums and other considerations' will reach $1.92 billion, a decrease of 7.4% from the previous year [5] - 'Revenue- Net investment income' is expected to be $1.17 billion, showing an increase of 3.9% year-over-year [5] - 'Revenue- Fees and other revenues' is projected at $1.09 billion, indicating a 4.9% increase from the prior year [5] Segment Revenue Estimates - 'Revenue- Principal Asset Management Segment- Net investment income' is estimated at $194.07 million, down 12.1% from the year-ago quarter [6] - 'Revenue- Benefits and Protection Segment- Specialty Benefits- Premiums and other considerations' is expected to be $800.73 million, reflecting a 2.3% increase year-over-year [7] - 'Revenue- Benefits and Protection Segment- Life Insurance- Total' is projected at $331.56 million, indicating a slight decrease of 0.8% from the previous year [10] Stock Performance - Over the past month, Principal Financial shares have returned +4.1%, outperforming the Zacks S&P 500 composite's +1% change [11] - Based on its Zacks Rank 3 (Hold), PFG is expected to perform in line with the overall market in the near term [11]

Core Viewpoint - Principal Financial Group, Inc. (PFG) is expected to report its fourth-quarter 2024 earnings on February 6, with a negative earnings surprise in the previous quarter [1] Factors at Play - The fourth-quarter results are anticipated to show an increase in fee revenues, higher yields, favorable market performance, and increased sales of single premium group annuities [2] Revenue and Earnings Estimates - Operating revenues are projected to decline due to lower premiums and fees in Retirement and Income Solutions and Principal Global Investors, with the Zacks Consensus Estimate for revenues at $4.03 billion, reflecting a nearly 5% decrease from the previous year [3] - The expected net investment income for the fourth quarter is $1.2 billion, benefiting from higher yields and average invested assets [4] - The Zacks Consensus Estimate for earnings is $1.95 per share, indicating a 5% decrease from the prior-year quarter [5] Earnings Prediction Model - The earnings prediction model suggests a potential earnings beat for Principal Financial, supported by a positive Earnings ESP of +0.03% and a Zacks Rank of 3 [6][7] Other Stocks to Consider - Unum Group (UNM) has an Earnings ESP of +0.23% and a Zacks Rank of 3, with a consensus estimate of $2.13 for fourth-quarter earnings, indicating a 19% year-over-year increase [8] - Allstate Corporation (ALL) has an Earnings ESP of +3.93% and a Zacks Rank of 3, with a consensus estimate of $6.51 for fourth-quarter earnings, reflecting an 11.9% year-over-year increase [9] - Intercontinental Exchange Inc. (ICE) has an Earnings ESP of +0.09% and a Zacks Rank of 3, with a consensus estimate of $1.49 for fourth-quarter earnings, indicating a 5.3% year-over-year increase [10]

Core Viewpoint - Principal Financial Group, Inc. (PFG) has gained investor favor due to strategic buyouts, financial flexibility, strong retention, business growth, positive net cash flow, and effective capital deployment [1] Financial Performance - PFG currently holds a Zacks Rank 3 (Hold) and has experienced a stock loss of 0.9% over the past year, while the industry has grown by 11.1% [2] - The Zacks Consensus Estimate for PFG's 2025 earnings per share indicates a 19.3% increase from 2024 estimates, while revenues are expected to rise by 6.2% [4] Growth Drivers - Revenue growth for PFG is anticipated to improve long-term due to higher premiums, fees, and improved net investment income across segments [5] - The Principal International segment is expected to benefit from increased single-premium annuity sales in Chile, with operating earnings positively impacted by foreign currency tailwinds [5] - The Specialty Benefits Insurance business is projected to continue benefiting from record sales, strong retention, and employment growth, contributing to pre-tax operating earnings [6] Capital Management - PFG's extensive distribution network, strategic buyouts, and operational discipline are expected to enhance asset growth under management [7] - The company maintains a strong capital position with sufficient cash generation capabilities and liquidity, having adjusted the target RBC level to a range of 375-400% [7] - For 2024, PFG aims for 9% to 12% growth in earnings per share and 75% to 85% free capital flow conversion [8] Shareholder Returns - PFG's wealth distribution strategy includes share buybacks and dividend payments, with a 9% dividend increase in Q3 2024 for the sixth consecutive quarter, aligning with a targeted 40% payout ratio [11] - The company has a solid dividend yield of 3.6%, surpassing the industry average of 2.4% [11] - PFG plans to deploy $1.5-$1.8 billion in capital for 2024, including $800 million to $1.1 billion for share repurchases, targeting 35-45% share repurchases based on net income [12]

Core Insights - Albert Anthony is a Croatian-American media personality and financial contributor, reaching over 1 million investors globally since 2023 [1] - His content on Seeking Alpha averages over 25,000 views monthly, focusing on stock analysis and dividend income portfolio building [1] - In addition to his media work, he has been involved in city council politics in Croatia and ran for Parliament in 2024 [1] Group 1 - Albert Anthony provides curated analysis of stocks trading on major US exchanges [1] - He has experience as an information systems analyst and worked at Charles Schwab [1] - He has completed certifications from various prestigious institutions, enhancing his financial expertise [1] Group 2 - Anthony is also a host at Online Live TV Croatia and has contributed to various media outlets in the US and Croatia [1] - He became a member of the Croatian Economic Association in 2024, focusing on economics and monetary policy [1] - His involvement in film and TV productions includes a role in the Polish WWII film "Red Poppies" set for release in 2024 [1]

AUSTIN, Texas, Nov. 7, 2024 /PRNewswire/ -- PerfectQuote, Inc., a leading group health digital quoting platform, announced its collaboration with Principal Financial Group®, to provide PerfectQuote customers with direct, underwritten proposals for dental, vision, life, disability and voluntary benefits delivered through its Request-for-Proposal ("RFP") toolset.With a critical mass of firms and general agencies leveraging the PerfectQuote platform (including 14 of the top 20 largest U.S.- based firms) servic ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 1-16725 (Commission file number) PRINCIPAL FINANCIAL GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 42-1520346 (State or other jurisdiction of incorp ...

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