Analyst Consensus ?
ConsensusHold37 ratings
Bullish718.9%
Neutral2567.6%
Bearish513.5%
Prudential Financial, Inc. · PRU · FY2026 Q2 · Calendar Q3 2026
Prudential shifts capital toward core markets as Japan weighs Q2
Prudential's Q2 supports a measured version of the operating-improvement case: management is redirecting capital toward core, capital-light businesses and expanding its savings target, while Japan and execution risks remain material offsets.
Reported After market closeNYSEFinancial Services
$41.08B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$4.08
Consensus $3.52
EPS surprise
+15.9%
Reported versus consensus
Reported revenue
$14.15B
Consensus $14.36B
Revenue surprise
-1.4%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-2.7%
Event window
SPY move
-0.2%
Same window
Abnormal move
-2.5%
Stock minus SPY
Volume
2.7×
Versus trailing sessions
Subsequent drift
-0.3%
Up to 20 sessions
PRUSPY benchmark
Ask FN2 about PRU FY2026 Q2
Transcript, numbers and history already loaded
Why did PRU fall 2.7% after beating EPS estimates in FY2026 Q2?What changed in PRU's guidance and outlook in FY2026 Q2?Give me the bull and bear case for PRU after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The strategy became more explicit: Prudential plans to exit emerging markets and rotate more than $3 billion into core developed markets. The pretax cost-savings target increased to $750 million by 2028, while the Japan sales suspension remained a near-term drag with a planned November 6 resumption.
Guidance delta
Guidance sentiment moved from maintained to lowered. Management raised its pretax cost-savings target to $750 million by 2028, while the Japan sales suspension remains a near-term headwind.
Key takeaways
- Q2 adjusted operating income grew 14% year over year, with record Group Insurance earnings and strong PGIM ETF and private-credit activity.
- Management plans to exit emerging markets and redeploy more than $3 billion toward the U.S., Japan, Europe, and capital-light businesses.
- The Japan sales suspension affected the quarter; management plans to resume sales on November 6 while pursuing broader cost savings.
Management priorities
- Concentrate the geographic footprint on the U.S., Japan, and select European markets.
- Scale PGIM, Group Insurance, retirement products, private credit, and active ETFs.
- Deliver $750 million of pretax run-rate savings by 2028 and improve the operating-expense ratio.
Follow PRU with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$118.53Current
$79Low
$107.73Average
$128High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 22, 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 |
|---|---|---|---|---|
| Morgan Stanley | Underweight | Underweight | Maintain | Aug 24, 2026 |
| Wells Fargo | Underweight | Underweight | Maintain | Aug 19, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Aug 17, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Aug 11, 2026 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Aug 11, 2026 |
| TD Cowen | Hold | Hold | Maintain | Jul 22, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Jul 13, 2026 |
| Jefferies | Hold | Hold | Maintain | Jul 10, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Jul 9, 2026 |
| Barclays | Underweight | Underweight | Maintain | Jul 7, 2026 |
| Argus Research | Hold | Buy | Downgrade | Jun 9, 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 $118.53. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Bob Huang | $105 | $122.44 | -11.4% | Aug 24, 2026 |
| Wells Fargo | Wes Carmichael | $110 | $124.54 | -7.2% | Aug 19, 2026 |
| Piper Sandler | Paul Newsome | $128 | $122.11 | +8.0% | Aug 11, 2026 |
| Atlantic Equities | Analyst unavailable | $114 | $115.15 | -3.8% | Jul 15, 2026 |
| Jefferies | Suneet Kamath | $110 | $115 | -7.2% | Jul 10, 2026 |
| Mizuho Securities | Yaron Kinar | $109 | $112.67 | -8.0% | Jul 9, 2026 |
| Barclays | Alex Scott | $92 | $114.28 | -22.4% | Jul 7, 2026 |
| Wells Fargo | Wes Carmichael | $100 | $101.12 | -15.6% | May 12, 2026 |
| Barclays | Alex Scott | $90 | $100.27 | -24.1% | May 6, 2026 |
| UBS | Analyst unavailable | $92 | $98.62 | -22.4% | May 4, 2026 |
| BMO Capital | Jack Matten | $87 | $94.9 | -26.6% | Apr 23, 2026 |
| Barclays | Alex Scott | $91 | $96.45 | -23.2% | Apr 21, 2026 |
| Mizuho Securities | Analyst unavailable | $101 | $97.59 | -14.8% | Apr 13, 2026 |
| UBS | Michael Ward | $98 | $97.1 | -17.3% | Apr 9, 2026 |
| Morgan Stanley | Bob Jian Huang | $111 | $97.04 | -6.4% | Mar 6, 2026 |
| Evercore ISI | Analyst unavailable | $110 | $102.17 | -7.2% | Feb 4, 2026 |
| Mizuho Securities | Analyst unavailable | $126 | $116.58 | +6.3% | Jan 14, 2026 |
| Wells Fargo | Elyse Greenspan | $115 | $117.74 | -3.0% | Jan 13, 2026 |
| UBS | Analyst unavailable | $116 | $118.78 | -2.1% | Jan 8, 2026 |
| Barclays | Alex Scott | $124 | $116.85 | +4.6% | Jan 8, 2026 |
| Piper Sandler | Analyst unavailable | $120 | $114.84 | +1.2% | Dec 23, 2025 |
| Mizuho Securities | Yaron Kinar | $125 | $117.65 | +5.5% | Dec 15, 2025 |
| Barclays | Alex Scott | $117 | $103.41 | -1.3% | Oct 8, 2025 |
| Morgan Stanley | Bob Huang | $118 | $103.36 | -0.4% | Oct 7, 2025 |
| UBS | Michael Ward | $122 | $112.71 | +2.9% | Apr 2, 2025 |
| Morgan Stanley | Analyst unavailable | $128 | $115.1 | +8.0% | Feb 28, 2025 |
| Barclays | Alex Scott | $119 | $126.64 | +0.4% | Oct 31, 2024 |
| Piper Sandler | John Barnidge | $127 | $119.36 | +7.1% | Oct 2, 2024 |
| Barclays | Alex Scott | $118 | $119.55 | -0.4% | Sep 4, 2024 |
| Wells Fargo | Elyse Greenspan | $113 | $108.4 | -4.7% | Aug 12, 2024 |
| Jefferies | Suneet Kamath | $143 | $117.84 | +20.6% | May 22, 2024 |
| CFRA | Catherine Seifert | $112 | $116.69 | -5.5% | May 8, 2024 |
| Piper Sandler | John Barnidge | $121 | $112.26 | +2.1% | May 6, 2024 |
| Evercore ISI | Thomas Gallagher | $116 | $112.76 | -2.1% | Apr 24, 2024 |
| Piper Sandler | John Barnidge | $125 | $115.89 | +5.5% | Apr 5, 2024 |
| Jefferies | Suneet Kamath | $93 | $96.58 | -21.5% | Sep 14, 2023 |
| Morgan Stanley | Analyst unavailable | $114 | $99.19 | -3.8% | Jan 10, 2023 |
| Barclays | Analyst unavailable | $105 | $98.26 | -11.4% | Jan 10, 2023 |
| Goldman Sachs | Analyst unavailable | $96 | $101.01 | -19.0% | Jan 9, 2023 |
| Piper Sandler | Analyst unavailable | $106 | $98.08 | -10.6% | Dec 20, 2022 |
| Morgan Stanley | Analyst unavailable | $112 | $106.16 | -5.5% | Nov 17, 2022 |
| Jefferies | Analyst unavailable | $79 | $96.12 | -33.4% | Sep 8, 2022 |
| Morgan Stanley | Analyst unavailable | $108 | $104.36 | -8.9% | Aug 17, 2022 |
| Wells Fargo | Analyst unavailable | $101 | $96.81 | -14.8% | Aug 4, 2022 |
| Barclays | Analyst unavailable | $95 | $90.45 | -19.9% | Jul 14, 2022 |
| RBC Capital | Analyst unavailable | $112 | $96.11 | -5.5% | Jul 11, 2022 |
| Piper Sandler | Analyst unavailable | $100 | $96.6 | -15.6% | Jul 8, 2022 |
| Evercore ISI | Analyst unavailable | $100 | $94.26 | -15.6% | Jul 6, 2022 |
| Morgan Stanley | Analyst unavailable | $103 | $93.9 | -13.1% | Jul 6, 2022 |
| Goldman Sachs | Analyst unavailable | $99 | $103.96 | -16.5% | Jun 6, 2022 |
| Piper Sandler | Analyst unavailable | $110 | $104.56 | -7.2% | May 27, 2022 |
| Morgan Stanley | Analyst unavailable | $120 | $109.14 | +1.2% | May 4, 2022 |
| Evercore ISI | Thomas Gallagher | $105 | $110.28 | -11.4% | Jan 5, 2022 |
| Goldman Sachs | Alex Scott | $115 | $102.38 | -3.0% | Dec 2, 2021 |
| Bank of America Securities | Joshua Shanker | $108 | $103.18 | -8.9% | Aug 17, 2021 |
Track every rating change on PRU the moment it posts. Free to start.
Start freeCompany 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…
Historical context
All PRU earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
Get the PRU recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-07T20:16:15.420498+00:00
- FN2 earnings calendar · 2026-09-09T01:23:14.388487+00:00
- Polygon adjusted daily market bars · 2026-09-21T23:40:46.968104+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-21T23:40:46.965431+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.