Analyst Consensus ?
ConsensusHold37 ratings
Bullish718.9%
Neutral2567.6%
Bearish513.5%
Prudential Financial, Inc. · PRU · FY2026 Q1 · Calendar Q2 2026
Prudential Q1 2026: EPS and Revenue Beat Amid Extended Japan Suspension
Prudential Financial delivered a Q1 FY2026 beat with EPS of $3.61 (vs. $3.09 estimate, +16.8% surprise) and revenue of $15.2B (vs. $14.1B estimate, +8.0% surprise), driven by 10% YoY growth in adjusted operating income to $1.6B, a 15% adjusted ROE, PGIM margin expansion to 19.1%, and robust retirement sales led by FlexGuard 2.0. The Japan life-planner sales suspension — the dominant overhang since the prior quarter's misconduct disclosure — was extended through November 5 with a quantified $130M Q1 impact, still within the $300-$350M full-year estimate. Management responded with a $135M restructuring charge targeting $150M in annual savings by 2027 and lowered the 2026 tax rate guidance to 21-22%, signaling disciplined cost and capital management. The stock initially underperformed the market by 1.5% on the report but drifted +3.2% in subsequent sessions and has since rallied well…
Reported After market closeNYSEFinancial Services
$42.55B market cap
100quality score
Company context
Snapshot as of publicationPrudential Financial, Inc., together with its subsidiaries, provides financial products and services in the United States, Japan and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments. The PGIM segment offers investment management services and solutions related to public fixed income, public equity, real estate debt and equity, private credit and other alternatives, and multi-asset class strategies to institutional and retail clients, as well as its insurance and retirement businesses. The Retirement Strategies segment provides a range of retirement investment, and income products and services to retirement plan sponsors in the public, private, and not-for-profit sectors; group annuities and other products; international reinsurance; investment only products; and FlexGuard suite, Fixed annuities, and variable annuities…
Earnings scorecard
Reported versus consensus
Reported EPS
$3.61
Consensus $3
EPS surprise
+16.8%
Reported versus consensus
Reported revenue
$15.23B
Consensus $14.10B
Revenue surprise
+8.0%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$122.63Current
$79Low
$107.04Average
$128High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Hold | Hold | Maintain | Jul 22, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Jul 21, 2026 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Jul 13, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Jul 13, 2026 |
| Jefferies | Hold | Hold | Maintain | Jul 10, 2026 |
| Wells Fargo | Underweight | Underweight | Maintain | Jul 9, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Jul 9, 2026 |
| Barclays | Underweight | Underweight | Maintain | Jul 7, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Jun 24, 2026 |
| Argus Research | Hold | Buy | Downgrade | Jun 9, 2026 |
| Morgan Stanley | Underweight | Equal Weight | Downgrade | May 4, 2026 |
| BMO Capital | Underperform | Underperform | Maintain | Apr 23, 2026 |
| B of A Securities | Neutral | Neutral | Maintain | Apr 14, 2026 |
| UBS | Neutral | Neutral | Maintain | Apr 9, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Jul 23, 2024 |
| Raymond James | Market Perform | Strong Buy | Downgrade | Feb 9, 2024 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Sep 8, 2023 |
| Goldman Sachs | Sell | Neutral | Downgrade | Jan 9, 2023 |
| Credit Suisse | Neutral | Outperform | Downgrade | Mar 25, 2022 |
| Wolfe Research | Perform | Peer Perform | Maintain | Jan 21, 2022 |
| B. Riley Securities | Neutral | Neutral | Maintain | Apr 21, 2020 |
| B. Riley FBR | Neutral | Neutral | Maintain | Apr 21, 2020 |
| Atlantic Equities | Neutral | Overweight | Downgrade | Aug 8, 2019 |
| Citi | Neutral | Buy | Downgrade | Aug 5, 2019 |
| B. Riley | Neutral | Buy | Downgrade | Aug 1, 2019 |
| Deutsche Bank | Hold | Hold | Maintain | Apr 12, 2019 |
| Argus | Buy | Hold | Upgrade | May 5, 2018 |
| FBR Capital | Buy | Neutral | Upgrade | Oct 10, 2017 |
| Bank of America | Buy | Underperform | Upgrade | Nov 18, 2016 |
| Keefe Bruyette & Woods | Outperform | Outperform | Maintain | Nov 12, 2015 |
| Sterne Agee | Buy | Buy | Maintain | Oct 13, 2014 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Aug 8, 2014 |
| Drexel Hamilton | Buy | Buy | Maintain | Jul 7, 2014 |
| Janney Montgomery Scott | Neutral | Buy | Downgrade | Jan 3, 2014 |
| Janney Capital | Neutral | Buy | Downgrade | Jan 3, 2014 |
| Macquarie | Neutral | Outperform | Downgrade | Jan 16, 2013 |
| Evercore Partners | Overweight | Overweight | Maintain | May 10, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $122.63. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Atlantic Equities | Analyst unavailable | $114 | $115.15 | -7.0% | Jul 15, 2026 |
| Jefferies | Suneet Kamath | $110 | $115 | -10.3% | Jul 10, 2026 |
| Mizuho Securities | Yaron Kinar | $109 | $112.67 | -11.1% | Jul 9, 2026 |
| Barclays | Alex Scott | $92 | $114.28 | -25.0% | Jul 7, 2026 |
| Wells Fargo | Wes Carmichael | $100 | $101.12 | -18.5% | May 12, 2026 |
| Barclays | Alex Scott | $90 | $100.27 | -26.6% | May 6, 2026 |
| UBS | Analyst unavailable | $92 | $98.62 | -25.0% | May 4, 2026 |
| BMO Capital | Jack Matten | $87 | $94.9 | -29.1% | Apr 23, 2026 |
| Barclays | Alex Scott | $91 | $96.45 | -25.8% | Apr 21, 2026 |
| Mizuho Securities | Analyst unavailable | $101 | $97.59 | -17.6% | Apr 13, 2026 |
| UBS | Michael Ward | $98 | $97.1 | -20.1% | Apr 9, 2026 |
| Morgan Stanley | Bob Jian Huang | $111 | $97.04 | -9.5% | Mar 6, 2026 |
| Evercore ISI | Analyst unavailable | $110 | $102.17 | -10.3% | Feb 4, 2026 |
| Mizuho Securities | Analyst unavailable | $126 | $116.58 | +2.7% | Jan 14, 2026 |
| Wells Fargo | Elyse Greenspan | $115 | $117.74 | -6.2% | Jan 13, 2026 |
| UBS | Analyst unavailable | $116 | $118.78 | -5.4% | Jan 8, 2026 |
| Barclays | Alex Scott | $124 | $116.85 | +1.1% | Jan 8, 2026 |
| Piper Sandler | Analyst unavailable | $120 | $114.84 | -2.1% | Dec 23, 2025 |
| Mizuho Securities | Yaron Kinar | $125 | $117.65 | +1.9% | Dec 15, 2025 |
| Barclays | Alex Scott | $117 | $103.41 | -4.6% | Oct 8, 2025 |
| Morgan Stanley | Bob Huang | $118 | $103.36 | -3.8% | Oct 7, 2025 |
| UBS | Michael Ward | $122 | $112.71 | -0.5% | Apr 2, 2025 |
| Morgan Stanley | Analyst unavailable | $128 | $115.1 | +4.4% | Feb 28, 2025 |
| Barclays | Alex Scott | $119 | $126.64 | -3.0% | Oct 31, 2024 |
| Piper Sandler | John Barnidge | $127 | $119.36 | +3.6% | Oct 2, 2024 |
| Barclays | Alex Scott | $118 | $119.55 | -3.8% | Sep 4, 2024 |
| Wells Fargo | Elyse Greenspan | $113 | $108.4 | -7.9% | Aug 12, 2024 |
| Jefferies | Suneet Kamath | $143 | $117.84 | +16.6% | May 22, 2024 |
| CFRA | Catherine Seifert | $112 | $116.69 | -8.7% | May 8, 2024 |
| Piper Sandler | John Barnidge | $121 | $112.26 | -1.3% | May 6, 2024 |
| Evercore ISI | Thomas Gallagher | $116 | $112.76 | -5.4% | Apr 24, 2024 |
| Piper Sandler | John Barnidge | $125 | $115.89 | +1.9% | Apr 5, 2024 |
| Jefferies | Suneet Kamath | $93 | $96.58 | -24.2% | Sep 14, 2023 |
| Morgan Stanley | Analyst unavailable | $114 | $99.19 | -7.0% | Jan 10, 2023 |
| Barclays | Analyst unavailable | $105 | $98.26 | -14.4% | Jan 10, 2023 |
| Goldman Sachs | Analyst unavailable | $96 | $101.01 | -21.7% | Jan 9, 2023 |
| Piper Sandler | Analyst unavailable | $106 | $98.08 | -13.6% | Dec 20, 2022 |
| Morgan Stanley | Analyst unavailable | $112 | $106.16 | -8.7% | Nov 17, 2022 |
| Jefferies | Analyst unavailable | $79 | $96.12 | -35.6% | Sep 8, 2022 |
| Morgan Stanley | Analyst unavailable | $108 | $104.36 | -11.9% | Aug 17, 2022 |
| Wells Fargo | Analyst unavailable | $101 | $96.81 | -17.6% | Aug 4, 2022 |
| Barclays | Analyst unavailable | $95 | $90.45 | -22.5% | Jul 14, 2022 |
| RBC Capital | Analyst unavailable | $112 | $96.11 | -8.7% | Jul 11, 2022 |
| Piper Sandler | Analyst unavailable | $100 | $96.6 | -18.5% | Jul 8, 2022 |
| Evercore ISI | Analyst unavailable | $100 | $94.26 | -18.5% | Jul 6, 2022 |
| Morgan Stanley | Analyst unavailable | $103 | $93.9 | -16.0% | Jul 6, 2022 |
| Goldman Sachs | Analyst unavailable | $99 | $103.96 | -19.3% | Jun 6, 2022 |
| Piper Sandler | Analyst unavailable | $110 | $104.56 | -10.3% | May 27, 2022 |
| Morgan Stanley | Analyst unavailable | $120 | $109.14 | -2.1% | May 4, 2022 |
| Evercore ISI | Thomas Gallagher | $105 | $110.28 | -14.4% | Jan 5, 2022 |
| Goldman Sachs | Alex Scott | $115 | $102.38 | -6.2% | Dec 2, 2021 |
| Bank of America Securities | Joshua Shanker | $108 | $103.18 | -11.9% | Aug 17, 2021 |
Track every rating change on PRU the moment it posts. Free to start.
Start freeMarket reaction
event-close to next-session close
Stock move
-0.1%
Event window
SPY move
+1.4%
Same window
Abnormal move
-1.5%
Stock minus SPY
Volume
1.5×
Versus trailing sessions
Subsequent drift
+3.2%
Up to 20 sessions
PRUSPY benchmark
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Try FN2 freeTranscript intelligence
What changed
Versus the prior quarter, the Japan sales suspension was extended from the initial 90-day voluntary halt to November 5, with the Q1 impact now quantified at $130M (consistent with the prior $300-$350M full-year estimate). PGIM margin reached 19.1%, building on the prior quarter's $1T unified credit platform launch. A concrete $135M restructuring charge was taken this quarter (prior quarter referenced the $150M savings target without a charge). The FlexGuard product line advanced to FlexGuard 2.0 (prior: FlexGuard Life). The full-year 2026 tax rate guidance was lowered to 21-22%. A digital distribution milestone of 1.2M policies sold through MercadoLibre was disclosed, highlighting Brazil's expanding contribution. Management deferred detailed long-term strategic priorities to the August Q2 call.
Guidance delta
Full-year guidance was maintained overall. The 2026 tax rate guidance was lowered to a range of 21%-22% from the prior implied rate. The Japan sales suspension timeline was extended through November 5, 2026, with Q1 impact quantified at $130M (within the prior $300-$350M full-year estimate). Management deferred detailed long-term strategic priorities to the August Q2 earnings call.
Key takeaways
- Adjusted operating income rose 10% YoY to $1.6 billion with a 15% adjusted ROE, beating EPS estimates by 16.8% and revenue estimates by 8.0%.
- Japan sales suspension extended through November 5, with a quantified $130 million impact in Q1, remaining the primary earnings headwind.
- PGIM delivered a 19.1% margin, on track for $100 million in run-rate savings and over 200 basis points of margin expansion in 2026.
- Retirement sales were driven by FlexGuard 2.0 RILA, retail annuities, and strong pension risk transfer activity.
- A $135 million restructuring charge will generate $150 million in annual run-rate savings by 2027.
- Full-year 2026 tax rate guidance was lowered to a range of 21%-22%.
Management priorities
- Detail long-term vision and strategic priorities in the August Q2 earnings call.
- Continue capital redeployment toward high-cash-flow businesses in retirement and asset management.
- Accelerate private-assets fundraising and direct-lending capabilities within PGIM.
- Invest in technology and AI to improve operational efficiency, targeting $150 million in annual savings by 2027.
- Further exit non-core markets and concentrate on scale-leading positions.
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-30T03:01:14.312576+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-30T03:01:14.309740+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.