Principal Financial Group Reports Q3 2026 Growth in Retirement and Specialty Benefits
Principal Financial Group (PFG) reported third-quarter 2026 results featuring a 6% year-over-year increase in non-GAAP operating EPS to $2.22. The performance was primarily driven by strength in the Retirement and Income Solutions (RIS) segment, which saw an 8% rise in recurring deposits, and momentum in Specialty Benefits, where premiums grew 6% following the Beam Benefits acquisition. Despite these gains, the company faced challenges in its Investment Management division, reporting a 3% decline in pre-tax operating earnings due to lower management fees. Total net cash flow was significantly negative at $10.7 billion, largely attributed to outflows in U.S. retail active equity strategies. To optimize its portfolio, PFG exited its noncore Chile annuity business, resulting in a $276.7 million pre-tax loss. Overall, the company maintained strong capital returns, distributing $429 million through dividends and share repurchases. Management noted that while net outflows improved compared to Q2, pressure remains in active equity strategies, and small-to-mid-sized businesses are showing increased economic caution.
Tickers: $PFG
Topics: assets under management earnings report financial results operating earnings
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