Principal Financial reports Q1 adjusted EPS $1.65, consensus $1.73

Dan Houston, chairman, president, and CEO of Principal: “I’m proud of our first quarter 2024 results, generating nearly $400 million of non-GAAP operating earnings, and demonstrating a focused execution of our strategy, strong sales across our enterprise, and equity market tailwinds. We continue to drive profitable growth across the enterprise – balancing investing for growth and innovation in our business while managing expenses. We returned more than $360 million to shareholders in the quarter, including $200 million of share repurchases, delivering on our commitment to return excess capital to shareholders. We are in a strong financial position and remain on track to deliver on our 2024 outlook and meet our long-term financial goals.”