Principal Financial Group reports $2.42 non-GAAP EPS, topping estimates by $0.09, but stock declines in after-hours trading.
Principal Financial Group (PFG) reported second-quarter non-GAAP earnings per share of $2.42, surpassing analyst estimates by $0.09. The company also raised its quarterly dividend. Despite the earnings beat, PFG shares dropped 3.07% to $107.87 in post-market trading on Monday.
Analysts had expected earnings of $2.33 per share for the quarter. The company did not provide immediate details on the dividend increase or reasons for the stock decline. Comparable period performance and market expectations were not disclosed in the initial report.
The stock’s decline contrasts with the positive earnings surprise, suggesting investor concerns may outweigh the quarterly results.