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Get filing alertsPrincipal Financial reports Q2 EPS up 16% to $2.50, raises dividend 8% to $0.84/share
Filed July 27, 2026 · Period ending July 27, 2026 · ~1 min read
Key Changes
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Non-GAAP operating earnings rose 16% YoY to $2.50/share ($2.42 excluding significant variances, up 17%); net income was $403M or $1.84/share.
Exhibit 99 view on EDGAR → -
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Board raised Q3 2026 dividend 8% to $0.84/share (payable Sept 25 to Sept 3 holders), continuing capital return alongside $250M in Q2 buybacks.
Exhibit 99 view on EDGAR → -
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Retirement and Income Solutions earnings up 11% to $323M on 30% transfer deposit growth and 60bp margin expansion to 41.5%.
Exhibit 99 view on EDGAR → -
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Specialty Benefits earnings jumped 25% to $159M as operating margin expanded 300bp to 18.2% and loss ratio improved to 57.4% from 60.2%.
Exhibit 99 view on EDGAR → -
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Returned $427M to shareholders in Q2 ($250M repurchases, $177M dividends) with $1.6B excess and available capital reported.
Exhibit 99 view on EDGAR →
Summary
Principal Financial Group delivered strong second-quarter results with non-GAAP operating earnings of $2.50 per share, up 16% year-over-year, driven by broad-based strength across its Retirement and Income Solutions and Specialty Benefits segments.
The Retirement segment saw pre-tax earnings rise 11% to $323 million on robust transfer deposit growth (up 30% to $9 billion) and margin expansion of 60 basis points to 41.5%. Specialty Benefits posted a 25% earnings gain to $159 million, with operating margin expanding 300 basis points to 18.2% as the loss ratio improved to 57.4%, below the company's targeted range.
The Board raised the quarterly dividend 8% to $0.84 per share for Q3 2026, payable September 25 to shareholders of record September 3. Combined with $250 million in share repurchases during the quarter, Principal returned $427 million to shareholders while maintaining $1.6 billion in excess and available capital. The dividend increase and continued buyback activity reflect confidence in the company's capital generation and balance sheet strength. Retail holders should monitor whether the momentum in transfer deposits and underwriting performance sustains through the second half, as these drove the quarter's outperformance.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Principal Financial Group announced Q2 2026 earnings results on July 27, 2026.
Added in current filing · verify on EDGAR →
On July 27, 2026, Principal Financial Group, Inc. publicly announced information regarding its results of operations and financial condition for the quarter ended June 30, 2026.
Principal Financial Group disclosed its second quarter 2026 financial results. The 8-K references Exhibit 99 for the detailed announcement, but the exhibit text was not provided in the filing body, so specific financial metrics (revenue, earnings per share, net income) cannot be quoted or summarized here.
Event · Exhibit 99
Principal Financial Group reported Q2 2026 earnings of $2.50/share, up 16% YoY, and raised its Q3 dividend 8% to $0.84/share.
Added in current filing · view on EDGAR →
Non-GAAP operating earnings per diluted share, excluding significant variances2 of $2.42 increased 17% over prior year quarter; reported non-GAAP operating earnings per diluted share increased 16%
Principal Financial Group reported non-GAAP operating earnings of $2.50 per diluted share for Q2 2026, a 16% increase from $2.16 in Q2 2025. Excluding significant variances (primarily variable investment income and encaje performance), earnings were $2.42 per share, up 17% year-over-year. Net income attributable to PFG was $403 million, or $1.84 per share.
Added in current filing · view on EDGAR →
Announced common stock dividend increase of $0.02 to $0.84 per share in the third quarter 2026; representing an 8% increase over the third quarter 2025 dividend and on a trailing twelve-month basis
The Board raised the quarterly common stock dividend by $0.02 to $0.84 per share for Q3 2026, an 8% increase over the prior-year quarter. The dividend is payable September 25, 2026 to shareholders of record as of September 3, 2026. This marks continued capital return to shareholders alongside $250 million in share repurchases during Q2.
Added in current filing · view on EDGAR →
RIS transfer deposits of $9 billion, up 30%; operating margin3 improved 60 bps ... Pre-tax operating earnings6 $323.3 ... $292.1 11% ... Net revenue7 $779.0 ... $713.9 9% ... Operating margin 41.5% 40.9%
Retirement and Income Solutions reported pre-tax operating earnings of $323.3 million, up 11% from $292.1 million in Q2 2025, driven by higher net revenue ($779.0 million vs. $713.9 million) and margin expansion. Operating margin improved 60 basis points to 41.5%. Transfer deposits grew 30% to $9 billion, reflecting strong business momentum.
Added in current filing · view on EDGAR →
Specialty Benefits sales up 11%; operating margin5 improved 300 bps ... Pre-tax operating earnings $158.9 ... $127.6 25% ... Premium and fees $873.3 ... $840.2 4% ... Operating margin 18.2% 15.2% ... Incurred loss ratio | 57.4% | 60.2%
Specialty Benefits pre-tax operating earnings rose 25% to $158.9 million from $127.6 million, driven by improved underwriting and premium growth. Operating margin expanded 300 basis points to 18.2%, while the incurred loss ratio improved to 57.4% from 60.2%, below the targeted range with better results across all products. Sales increased 11%.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 28, 2026 · How we verify