Table of Contents Exhibit 99.2 Prudential Financial, Inc. (PRU) Quarterly Financial Supplement Third Quarter 2024 | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------| | | | | | | | Reference is made to Prudential Financial, Inc.'s (PFI) filings with the Securiti ...

Wall Street analysts expect Prudential (PRU) to post quarterly earnings of $3.47 per share in its upcoming report, which indicates a year-over-year increase of 0.9%. Revenues are expected to be $14.57 billion, up 43.9% from the year-ago quarter.The consensus EPS estimate for the quarter has undergone an upward revision of 0.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Prior to a ...

Prudential Financial Inc. (PRU) closed at $121.10 on Monday, near its 52-week high of $128.53. This proximity underscores investor confidence. It has the ingredients for further price appreciation. The stock is trading above the 50-day and 200-day simple moving averages (SMA) of $117.29 and $113.28, respectively, indicating solid upward momentum. SMA is a widely used technical analysis tool to predict future price trends by analyzing historical price data.Shares of this multi-line insurer have gained 16.8% ...

Buying this stock truly is getting "a piece of the rock."For years, the top advertising slogan for Prudential Financial (PRU 0.36%) was "Get a piece of the rock." The global financial services and investment management company still uses the iconic image of the Rock of Gibraltar in its logo.I just got a piece of the rock. Instead of buying insurance or another financial product from Prudential, though, I invested in the company. Here's why I just loaded up on this dirt cheap, high-yield dividend stock.1. It ...

Prudential Financial, Inc. (NYSE:PRU) KBW Insurance Conference September 4, 2024 10:50 AM ET Company Participants Charlie Lowrey - Chairman and CEO Conference Call Participants Ryan Krueger - Managing Director, KBW Ryan Krueger All right. Good morning, everyone. I'm Ryan Krueger, the Life Insurance Analyst at KBW. Really pleased to be joined today with Charlie -- by Charlie Lowrey, the Chairman and CEO of Prudential. Charlie Lowrey Thank you for having me. Question-and-Answer Session Q - Ryan Krueger So to ...

Financial Performance - For Q2 2024, net income attributable to Prudential Financial, Inc. increased by $687 million to $1,198 million compared to Q2 2023[455]. - For the first six months of 2024, net income attributable to Prudential Financial, Inc. rose by $363 million to $2,336 million compared to the same period in 2023[456]. - Adjusted operating income for U.S. Businesses in Q2 2024 was $1,070 million, up from $956 million in Q2 2023, reflecting a favorable impact from annual reviews and updates of assumptions[464]. - The Retirement Strategies segment reported adjusted operating income of $1,036 million in Q2 2024, compared to $876 million in Q2 2023, driven by higher net investment spread results[468]. - The International Businesses segment's adjusted operating income decreased to $702 million in Q2 2024 from $784 million in Q2 2023, impacted by unfavorable foreign currency exchange rates[472]. - Realized investment gains for Q2 2024 were $128 million, a significant recovery from a loss of $757 million in Q2 2023[464]. - The company reported a net loss of $9.5 billion in total third-party flows for the three months ended June 30, 2024[524]. - Total revenues for PGIM reached $5,287 million in Q2 2024, compared to $3,856 million in Q2 2023, indicating a growth of 37.1%[537]. - Adjusted operating income for Q2 2024 was $206 million, up from $179 million in Q2 2023, reflecting a 15.1% increase[511]. Assets and Liabilities - Prudential Financial has approximately $1.482 trillion in assets under management as of June 30, 2024[427]. - The U.S. operations, excluding the Closed Block Division, have insurance liabilities and policyholder account balances totaling $217 billion as of June 30, 2024[442]. - Prudential's Japanese operations have insurance liabilities and policyholder account balances amounting to $148 billion as of June 30, 2024[450]. - The general account supporting U.S. Businesses has approximately $200 billion in fixed maturity securities and commercial mortgage loans, with an average portfolio yield of about 4.8%[440]. - The general account for Japanese operations includes approximately $140 billion in fixed maturity securities and commercial mortgage loans, with an average portfolio yield of around 2.9%[448]. - The company’s Japanese operations held $80.5 billion in USD-denominated assets supporting USD-denominated liabilities as of June 30, 2024[483]. Investment and Capital Management - Prudential made an initial equity investment of approximately $200 million for a 20% interest in Prismic Life Holding Company LP, which reinsures about $9 billion of reserves related to structured settlement annuities[431]. - The company anticipates annual principal payments and prepayments requiring reinvestment to be approximately 7.5% of the fixed maturity security and commercial mortgage loan portfolios through 2025 for U.S. operations[440]. - The company completed a reinsurance agreement for approximately $10 billion of account values in May 2023, enhancing its risk management strategy[536]. - The company entered into a reinsurance agreement with AuguStar for approximately $10 billion of account values of traditional variable annuity contracts with guaranteed living benefits[565]. - The company implemented a yen hedging strategy to mitigate equity volatility from foreign currency exchange rate movements[481]. Market and Economic Conditions - The company increased its long-term expectation for the 10-year U.S. Treasury rate and 10-year Japanese Government Bond yield by 25 basis points to 3.50% and 1.25%, respectively[503]. - The change in value of market risk benefits resulted in a $297 million unfavorable variance in Q2 2024 compared to a $16 million gain in Q2 2023[464]. - The impact of intercompany arrangements resulted in a net detriment of $6 million to consolidated revenues and adjusted operating income for the three months ended June 30, 2024[491]. Business Segments and Operations - Adjusted operating income for U.S. Businesses rose to $1,070 million in Q2 2024, compared to $956 million in Q2 2023, marking an increase of 11.9%[532]. - Revenues from Institutional Retirement Strategies surged to $4,041 million in Q2 2024, up from $2,737 million in Q2 2023, reflecting a 47.8% increase[537]. - Total Institutional Retirement Strategies ending net account value increased to $264,999 million as of June 30, 2024, compared to $258,533 million in 2023, reflecting a growth of 2.9%[552]. - Individual Retirement Strategies net account values rose to $123,899 million as of June 30, 2024, up from $114,713 million in 2023, marking an increase of 8.5%[558]. - The company reported a total of $4,011 million in additions to Institutional Retirement Strategies for the three months ended June 30, 2024, down from $5,686 million in 2023[552]. - The company reported a decrease in policyholders' benefits due to a decline in business in force, particularly in Japan, which was partially offset by growth in Brazil[612]. Sales and Premiums - Annualized new business premiums for the Individual Life, Group Insurance, and International Businesses segments are analyzed, reflecting current sales performance rather than revenues under U.S. GAAP[476]. - The total annualized new business premiums for the three months ended June 30, 2024, decreased by $11 million to $46 million, primarily due to lower sales in group disability and group life businesses[587]. - The total annualized new business premiums for the six months ended June 30, 2024, increased by $48 million to $424 million, driven by higher sales in group disability and group life businesses[588]. - Sales of Individual Retirement Strategies products for the three months ended June 30, 2024, reached $3,486 million, compared to $1,901 million in the same period of 2023, representing an increase of 83.5%[558]. - Total annualized new business premiums for Life Planner on a constant exchange rate basis increased to $257 million in Q2 2024 from $235 million in Q2 2023, reflecting a growth of 9.36%[619]. Expenses and Costs - Total expenses for Q2 2024 were $757 million, up from $670 million in Q2 2023, marking a 12.9% increase[509]. - Benefits and expenses for Institutional Retirement Strategies increased by $1,182 million in Q2 2024, primarily due to higher policyholders' benefits related to increased premiums[543]. - The benefits and expenses for the six months ended June 30, 2024, increased by $56 million, primarily due to higher general and administrative expenses and less favorable claims experience[585]. - The Group Insurance total benefits ratio for the three months ended June 30, 2024, was 78.7%, an improvement from 82.1% in the same period of 2023[577]. - Adjusted operating income for the second quarter of 2024 was $(87) million, a decrease of $28 million from $(59) million in 2023, primarily due to unfavorable impacts related to policyholder behavior assumptions[591].

Prudential (PRU) reported $13.84 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 9.5%. EPS of $3.39 for the same period compares to $2.94 a year ago.The reported revenue represents a surprise of +0.41% over the Zacks Consensus Estimate of $13.78 billion. With the consensus EPS estimate being $3.43, the EPS surprise was -1.17%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ex ...

Prudential (PRU) came out with quarterly earnings of $3.39 per share, missing the Zacks Consensus Estimate of $3.43 per share. This compares to earnings of $2.94 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.17%. A quarter ago, it was expected that this financial services company would post earnings of $3.16 per share when it actually produced earnings of $3.12, delivering a surprise of -1.27%.Over the last four quarters, ...

Table of Contents i Exhibit 99.2 Prudential Financial, Inc. (PRU) Quarterly Financial Supplement Second Quarter 2024 Reference is made to Prudential Financial, Inc.'s (PFI) filings with the Securities and Exchange Commission for general information and consolidated financial information. All financial information in this document is unaudited. Table of Contents Prudential Financial, Inc. Quarterly Financial Supplement Second Quarter 2024 TABLE OF CONTENTS | --- | --- | --- | |------------------------------- ...

Prudential Financial, Inc. (PRU) is slated to report second-quarter 2024 earnings on Aug 1, after market close. PRU delivered a negative earnings surprise in the last reported quarter.Factors to ConsiderThe U.S. business is likely to have gained from higher spread income, driven by business growth and the benefit of higher interest rates and variable investment income, as well as more favorable underwriting results.Prudential Financial’s international businesses are likely to have benefited from higher net ...