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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Suneet Kamath | Jefferies | 14 (14%) |
| Ryan Krueger | KBW | 12 (17%) |
| Wes Carmichael | Wells Fargo | 12 (0%) |
| Joel Hurwitz | Dowling & Partners | 12 (17%) |
| Wilma Burdis | Raymond James | 12 (0%) |
| Jack Matten | BMO Capital Markets | 12 (0%) |
| Tom Gallagher | Evercore ISI | 10 (20%) |
| Alex Scott | Barclays | 8 (13%) |
| Jimmy Bhullar | JPMorgan | 8 (50%) |
| John Barnidge | Piper Sandler | 8 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jefferies | 1 | 14 (14%) |
| BMO Capital Markets | 1 | 12 (0%) |
| Dowling & Partners | 1 | 12 (17%) |
| Wells Fargo | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin |
|---|---|---|---|---|---|---|
| FY2024 Q4 | $4.75B | +76.6% | $3.92 | +206.2% | 23.4% | 19.1% |
| FY2025 Q1 | $3.70B | -8.8% | $0.21 | -90.5% | 0.8% | 1.3% |
| FY2025 Q2 | $3.67B | -14.8% | $1.79 | +20.1% | 13.7% | 11.1% |
| FY2025 Q3 | $3.68B | +22.2% | $0.94 | +198.9% | 6.7% | 5.8% |
| FY2025 Q4 | $4.58B | -3.7% | $2.32 | -40.8% | 13.9% | 11.3% |
| FY2026 Q1 | $3.53B | -4.5% | $1.93 | +819.0% | 14.8% | 11.7% |
| FY2026 Q2 | $3.91B | +6.4% | $1.84 | +2.8% | 12.7% | 10.3% |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| 12 (0%) |
| JPMorgan | 2 | 12 (33%) |
| KBW | 1 | 12 (17%) |
| Raymond James | 1 | 12 (0%) |
| Evercore ISI | 1 | 10 (20%) |
Principal Financial delivered Q1 non-GAAP operating EPS of $2.17 excluding special items, up 13% year-over-year and above the high end of the target range. Enterprise margins expanded 190 basis points to 30%. Specialty benefits achieved record sales with a loss ratio of 58.5%, and investment management posted record gross sales up 21%. RIS transfer deposits grew 35% with positive net cash flow. Life insurance had its best quarter in years on improved mortality. ROE reached 16.1%, up 140 basis points. FY2026 targets were reiterated.
Demand | Competitive Dynamics | Revenue Growth | Margin | Pricing | Capital Allocation | Product Launch | M&A | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 5 | 4 | 2 | 3 | 3 | 2 | 1 |
| 2025Q1 | 8 | 2 | 3 | 2 | 4 | 1 | 1 | |
| 2025Q2 | 8 | 6 | 8 | 3 | 1 | 3 | 1 | |
| 2025Q3 | 6 | 6 | 3 | 3 | 2 | 3 | 2 | 1 |
| 2025Q4 | 3 | 4 | 4 | 4 | 2 | 3 | 4 | |
| 2026Q1 | 7 | 5 | 5 | 2 | 2 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 4 | 8 | 8 | 6 | 3 | 7 |
| Competitive Dynamics | 5 | 2 | 6 | 6 | 4 | 5 |
| Revenue Growth | 4 | 3 | 8 | 3 | 4 | 5 |
| Margin | 2 | 2 | 3 | 3 | 4 | 2 |
| Pricing | 3 | 4 | 1 | 2 | 2 | 2 |
| Capital Allocation | 3 | 1 | 3 | 3 | ||
| Product Launch | 2 | 1 | 3 | 2 | 1 | |
| M&A | 1 | 1 | 1 | 4 | 1 |
What PFG and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“it was a little bit outsized this quarter because of a performance fee within China Construction Bank, our pension business.”
Principal earns performance fees through its pension joint venture with China Construction Bank, a lumpy but recurring compensation stream tied to services Principal provides in the China pension market.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
PFG Principal Financial Group | 7 | -4.5% | |
| ACGL Arch Capital Group | 3 | -5.0% | |
| AIG American International Group | 6 | -1.8% | |
| BRK-B Berkshire Hathaway | 7 | n/a | |
| HIG Hartford (The) | 6 | +6.1% |