Prudential Financial Q1 Earnings Beat Estimates on Lower Expenses

Core Viewpoint - Prudential Financial, Inc. reported mixed results for the first quarter of 2025, with adjusted operating income exceeding estimates but total revenues declining significantly year over year Financial Performance - Adjusted operating income for Q1 2025 was $3.29 per share, beating the Zacks Consensus Estimate by 2.5$13.4 billion, a decline of 38% year over year, missing the Zacks Consensus Estimate by 7.7% [1] - Total benefits and expenses were $18.9 billion, down 41$13 billion [2] Segment Performance - Prudential Global Investment Management (PGIM) reported adjusted operating income of $156 million, a decrease of 7.6$1.522 trillion, reflecting a 1.7% year-over-year increase [4] - U.S. Businesses delivered adjusted operating income of $931 million, up 15.6$848 million, exceeding the estimate of $785.1 million [6] - Corporate and Other segment incurred an adjusted operating loss of$415 million, narrower than the loss of $435 million reported a year ago, and better than the Zacks Consensus Estimate of a loss of$453 million [7] Capital Deployment - Prudential Financial returned capital to shareholders through share repurchases of $250 million and dividends of$486 million in the first quarter [8] Financial Position - Cash and cash equivalents at the end of Q1 2025 were $16.1 billion, a decrease of 14.3$20.9 billion [9] - Assets under management and administration rose 1.4% year over year to $1.7 trillion [9] - Adjusted book value per common share was$96.37, a decrease of 0.6% year over year [10] - Operating return on average equity was 13.8%, expanding by 110 basis points year over year [10]