Principal Financial Group Q1 2026: EPS beat, revenue down 4.5%
Principal Financial's first quarter of 2026 was a mixed but overall solid report: non-GAAP operating earnings of $2.07 a share beat the $2.02 consensus, yet revenue fell 4.5% to $3.53 billion. Read it as an earnings-quality story — underwriting and margins improved, while the top line and a $0.10 per-share drag from significant variances kept the quarter short of its $2.17 underlying run rate.
1 · Expected vs. Actual
Free preview belowGAAP net income was $424.6 million, or $1.93 a share, versus just $0.21 a year ago, a swing driven largely by the exited-business line rather than by operations. Non-GAAP operating earnings of $2.07 a share rose 14% from $1.81 and beat the $2.02 consensus by about $0.05. Strip out $0.10 of significant variances and the underlying figure was $2.17, up 13%.
Reported revenue was $3.53 billion, down 4.5% from $3.70 billion in the same quarter last year, so the top line contracted even as profits rose. The five disclosed segments add up to only $2.45 billion, meaning a large chunk of the top line sits outside the segment detail shown here. Treat the revenue line as directionally soft rather than as a clean growth signal.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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