Prudential Financial Reports First Quarter 2026 Results with $597 Million Net Income

**Prudential Financial Reports First Quarter 2026 Results**

Prudential Financial, Inc. (the "Company") has filed its 10-Q report for the quarter ended March 31, 2026, revealing a net income attributable to Prudential Financial, Inc. of $597 million, a decrease from $707 million reported for the same period in 2025. The company's total revenues for the quarter were $15.526 billion, compared to $13.470 billion in the first quarter of the previous year. Basic earnings per share for Common Stock were $1.69, while diluted earnings per share were $1.68, compared to $1.97 and $1.96, respectively, in the prior year. The company had 347 million shares of Common Stock outstanding as of April 30, 2026.

The increase in total revenues was primarily driven by higher premiums, which increased from $7.000 billion to $8.362 billion, and net investment income, which rose from $5.130 billion to $5.665 billion. However, realized investment losses, net, were $(364) million compared to $(730) million in the prior year. Policyholders' benefits increased from $8.140 billion to $9.533 billion, and interest credited to policyholders' account balances increased from $825 million to $1.109 billion. General and administrative expenses also increased from $3.083 billion to $3.469 billion.

Significant strategic developments during the quarter included segment reporting changes effective January 1, 2026. Traditional variable annuities and guaranteed universal life policies were combined into a new "U.S. Legacy Products" segment, while registered index-linked annuity and fixed annuity products were combined with institutional retirement strategies into a new "Retirement" segment. These changes were made to better reflect the company's strategic focus and how the Chief Operating Decision Maker assesses performance and allocates resources. The company also voluntarily extended the suspension of new sales for an additional 180 days through November 5, 2026, at Prudential of Japan following discussions with the Japanese regulator.

Key operational developments included monitoring concentrations of financial instruments and mitigating credit risk by maintaining a diversified investment portfolio. The company's exposure to concentrations of credit risk of single issuers greater than 10% of the company's equity included securities of the U.S. government and certain U.S. government agencies and securities guaranteed by the U.S. government, as well as investments in Japanese and Brazilian government and government agency securities. The company continues to manage counterparty credit risk by entering into derivative transactions with highly rated major financial institutions and other creditworthy counterparties governed by master netting agreements, trading through central clearing and over-the-counter parties, obtaining collateral, and setting limits on single party credit exposures.