Prudential reports Q1 adjusted EPS $2.66, consensus $2.93

Charles Lowrey, Chairman and CEO, commented on results: "Our first quarter operating earnings reflect underlying business growth, including the benefits from a higher interest rate environment, offset by lower variable investment and fee income, and elevated seasonal mortality experience. We continue to make progress on our transformation to become a higher growth, less market sensitive, and more nimble company. We are advancing our programmatic M&A strategy through the recently announced asset management acquisition which will expand our alternative capabilities and generate additional fee-based revenue, and we are continuing to invest in products and solutions that will drive long-term, sustainable growth and deliver value for our customers. As we look ahead, our rock solid balance sheet, mix of mutually enhancing businesses, and growth strategy put us in a strong position to navigate the current macroeconomic environment on behalf of our stakeholders and be a global leader in expanding access to investing, insurance, and retirement security for people around the world."