[PRU] Prudential Financial: Q3 2026 Earnings Test the Japan Sales Suspension Cost

Prudential Financial is a U.S. life insurance, retirement and asset management group based in Newark, New Jersey, and its Q3 2026 earnings cover 2026年第三季度(截至2026年9月30日的三个月), the three months ended September 30, 2026; the company's 8-K says results will be released after the market closes on November 3[1], and the Drillr earnings calendar lists the earnings call for 2026-11-04[2]. The latest disclosed quarter is the second quarter of 2026, when after-tax adjusted operating income (AOI) on the reporting basis then in use was $1.438 billion, or $4.08 per share, against $3.58 a year earlier, net income attributable to the company was $985 million, and adjusted book value was $100.91 per share[3]. The company does not give quarterly earnings guidance, but on October 15 it disclosed that PGIM ended the third quarter with $1.47 trillion of assets under management, that PGIM's other related revenues net of related expenses were about $20 million, that general-account alternative investment income ran roughly $15 million to $35 million above near-term expectations, and that the Prudential of Japan (POJ) sales suspension reduced the Japan Businesses' pre-tax AOI by about $140 million[1]; the full-year suspension cost range remains the $525 million to $575 million given on the second-quarter call[4]. Ten analysts tracked by Drillr expect adjusted earnings of $3.34 per share on average for the third quarter (range $3.30 to $3.41), and four analysts expect revenue of about $14.66 billion, although that revenue basis differs from the company's GAAP revenue[5]; the earnings calendar separately lists a $3.371 per-share estimate[2].

Three things matter most in this report. The first is the real cost of the Japan suspension: the drag through three quarters totals about $375 million, still inside the full-year range[6][4][1], but in October Japan's Financial Services Agency extended the period in which POJ cannot solicit new business to January 31, 2027[7], so whether the company keeps the range and how it describes the fourth quarter and early 2027 will determine how much more the second-largest profit source must absorb. The second is PGIM's fee base: second-quarter asset management fees were $864 million, up about 4.7% year over year[8], yet third-quarter other related revenues were pre-announced at only about $20 million and quarter-end assets slipped from $1.491 trillion to $1.47 trillion[9][1], so whether fees stay above the prior-year $844 million will separate a one-off swing from a weakening fee base. The third is the Retirement spread: second-quarter net investment income minus interest credited to policyholders was about $1.406 billion, flat with roughly $1.404 billion in the prior-year third quarter[10], but the U.S. pension risk transfer (PRT) market lacked jumbo deals in the first half[11], and whether the spread can carry Retirement earnings through a slow deal market is the premise behind treating Retirement as the largest profit source.

Company Background and Business Structure

Prudential Financial is a financial group whose two main profit sources are U.S. retirement and Japanese life insurance, alongside a large asset management platform, with about $1.609 trillion of assets under management at the end of 2025 and operations in the United States, Asia, Europe and Latin America[12]. Its core life insurance subsidiary converted from a policyholder-owned mutual company into a stock company, and it has no corporate link to the U.K.'s Prudential plc or the M&G business that demerged from it; the two sides only divide use of the "Prudential" name in certain countries by agreement[12]. In August 2026 the company announced its intent to exit certain emerging-market businesses[13], and Chairman and Chief Executive Andy Sullivan said on the call that these exits would for the most part be sales rather than shutdowns[14].

From the third quarter of 2026 the company reports four segments, PGIM, U.S. Businesses, Japan Businesses, and Corporate and Other; the former International Businesses segment was renamed Japan Businesses, operations such as Brazil and Mexico moved into divested and run-off businesses within Corporate and Other, and results from the indirect 40% interest in AFP Habitat now sit in Retirement[13]. U.S. Businesses include Retirement (PRT, longevity reinsurance, stable value and retail registered index-linked annuities), Group Insurance, Individual Life, and the run-off legacy variable annuity and guaranteed universal life blocks. On the restated basis, second-quarter 2026 pre-tax AOI was $294 million for PGIM, $998 million for U.S. Businesses, $694 million for Japan Businesses and a loss of $335 million for Corporate and Other[15].

The Japan business depends on proprietary agent channels, and each channel serves a different customer. POJ's Life Planners sell protection-oriented life insurance to mass affluent and affluent customers and retirement products to small businesses, Gibraltar's Life Consultants mainly sell individual protection products, and third-party channels include banks and independent agencies[16]. U.S. PRT customers are companies transferring pension liabilities, while PGIM serves institutions, retail fund investors and the company's own insurance general account; of PGIM's $1.491 trillion of assets at the end of June 2026, affiliated accounts made up about $546 billion[17].

Financial History and Current Position

Full-year 2025 profit improved markedly even though total revenue fell with swings in PRT premiums. GAAP total revenue was $60.774 billion in 2025, down from $70.405 billion in 2024[18], while net income attributable to the company rose to $3.576 billion from $2.727 billion[19]. Total segment pre-tax AOI was $6.637 billion (2024: $5.926 billion), including $3.445 billion from Retirement Strategies, $3.247 billion from International Businesses, $878 million from PGIM, $381 million from Group Insurance and $260 million from Individual Life, against a $1.574 billion loss in Corporate and Other[20].

Earnings kept growing in the second quarter of 2026, but the new segment basis moves part of the profit out of the core segments. On the prior basis, second-quarter after-tax AOI was $1.438 billion, or $4.08 per share, and net income was $985 million, or $2.80 per share[3]. On the restated basis used from the third quarter, second-quarter after-tax AOI was $1.320 billion, first-half AOI totaled $2.524 billion, up 9%, and the second-quarter operating ROE was 15.1%; restated third-quarter 2025 pre-tax AOI totaled $1.829 billion, or $1.444 billion after tax, which is the most direct prior-year comparison for this quarter[15].

Parent liquidity and capital returns have stayed steady. Parent highly liquid assets were $4.732 billion at the end of 2025[21] and $4.2 billion at the end of the second quarter of 2026, above the $3 billion minimum liquidity target[4]; second-quarter buybacks were $250 million and dividends $493 million, or $1.40 per share[3]. The board authorized up to $1.0 billion of repurchases for 2026[22], and Prudential Holdings of Japan reported a 192% economic solvency ratio (ESR) at the end of March, with the company estimating 170% to 190% at the end of June[4].

Operating Model

Prudential Financial's revenue combines premiums and policy fees, general-account net investment income and PGIM asset management fees, so total revenue does not directly track the profit trend. The insurance and retirement businesses collect premiums from in-force Japanese policies, U.S. group and individual life insurance and PRT annuities, and invest policyholder funds in the general account to earn investment income; PGIM charges fees on assets under management and earns other related revenues such as incentive and transaction fees. Large PRT deals make premiums swing sharply between quarters: Retirement premiums were $4.290 billion in the third quarter of 2025 and only $1.952 billion in the second quarter of 2026[10].

Management measures segment profit with pre-tax AOI; Retirement and Japan earn a spread plus underwriting results, while PGIM earns fees minus compensation and operating costs. In Retirement, account value growth and new-money yields lift net investment income, interest credited to policyholders is subtracted to give the spread, mortality and run-off underwriting results are added or deducted, and newly written PRT keeps contributing spread for many quarters afterward[10][11]. In PGIM, third-party net inflows and market appreciation raise average assets and fees, incentive fees, transaction fees and co-investment income are booked as other related revenues, and the two together minus expenses give AOI[9][17]. AOI excludes realized investment gains and losses and changes in market risk benefits, and second-quarter net income included $76 million of pre-tax net credit-related losses[23].

Cash moves from the insurance subsidiaries to the parent as dividends after regulatory capital is retained, and the parent then pays common dividends, buys back stock and services debt, so changes in subsidiary earnings reach parent cash with a delay. Asset sales are another cash source: Prudential of Brazil and Prudential of Mexico are being sold to CNP Assurances for $4.025 billion in cash[24], with proceeds going to the company's capital allocation priorities. The Japan suspension, by contrast, directly reduces the Japan Businesses' pre-tax AOI; in its 2025 annual report the company put the full-year hit at $300 million to $350 million[25], and after the April extension it raised the range to $525 million to $575 million[6].

Industry and Competitive Position

Prudential Financial holds a leading position in U.S. retirement and PRT, where it competes mainly on deal structure, the ability to execute large transactions and financial strength. Its 10-K says it competes with large insurers, asset managers and diversified financial institutions on pricing, structuring capability, innovative products and execution of large-scale transactions, and describes itself as a leader in pension risk management solutions for plan sponsors[26]. PGIM competes on investment performance, strategy, talent, organizational stability and client relationships[27], and managed about $1.466 trillion at the end of 2025[28]; third-party public equity kept flowing out in the second quarter, which the company attributed to the industry-wide shift from active to passive equity management[9][29].

Japan's life insurance market is mature and price-competitive, and Prudential Financial's strengths there are its needs-based selling and diverse distribution, while its weakness is intense competition for sales personnel and access to third-party channels[30]. That weakness is sharper during the suspension: the Life Planner count fell from 4,282 at the end of the third quarter of 2025 to 4,068 at the end of the second quarter of 2026[31]. Frequently cited comparables include MetLife, Corebridge, Athene and Japan's Dai-ichi Life and Nippon Life, but the disclosures cited here lack line-by-line data for those companies, so Prudential Financial's relative position on spreads or fee rates cannot be judged.

Core Debates

Will the Japan sales suspension cost more than the company's guided range?

The Japan suspension matters because Japan Businesses is Prudential Financial's second-largest profit source and POJ's Life Planners are its biggest channel for new business. Former International Businesses pre-tax AOI was $3.247 billion in 2025, second only to Retirement Strategies[20]; at constant exchange rates, Life Planners produced $174 million of the $454 million in Japanese annualized new business premiums in the third quarter of 2025, about 38%[32]. The suspension began on February 9, 2026 for a planned 90 days, the company voluntarily extended it by another 180 days in April[33], and in October the FSA's business suspension order pushed the date before which POJ cannot solicit new business to January 31, 2027[7], nearly three months after the November 5 resumption the company had committed to[34].

So far, the suspension cost remains inside the company's full-year range and Japan's earnings have not declined. The drag was $130 million in the first quarter[6] and $105 million in the second[4], and the third quarter was pre-announced at about $140 million[1], for a cumulative total of about $375 million, below the $525 million to $575 million full-year range. Restated Japan Businesses pre-tax AOI was $694 million in the second quarter, above $654 million a year earlier, and $750 million in the prior-year third quarter[35], and the company attributed the growth in the former International segment to higher spread income and business growth[36]. New business, however, shrank sharply: constant-currency annualized new business premiums fell from $450 million a year earlier to $262 million, with Life Planners down to $22 million, Life Consultants down from $150 million to $110 million and banks down from $69 million to $49 million, while only the independent agency channel grew, from $62 million to $81 million[32].

The suspension depresses Japan's earnings through lost new business and one-time costs, and the spread on in-force policies is temporarily masking part of that. With Life Planner sales near zero, agent compensation, customer reimbursement and surrender costs hit Japan AOI in the quarter they occur, and about $70 million of the second quarter's $105 million drag was Life Planner compensation[4]; meanwhile, higher rates in Japan have widened the spread on in-force policies and partly offset the drag[36]. What remains unresolved is whether stable earnings show a resilient business or only an in-force spread at work: the new business gap will not fully show in premiums until 2027, and the cost of the longer suspension has not been quantified.

The third quarter needs three sets of numbers. First, whether the gap between Japan AOI and the prior-year third quarter's $750 million falls within the roughly $140 million suspension impact; second, whether the company raises the full-year range because of the longer suspension and gives a fourth-quarter and 2027 impact; third, whether Life Consultant and bank sales stop falling, independent agency sales keep growing and the Life Planner count holds near 4,000[31]. If the suspension is extended again, new misconduct emerges, or non-POJ sales keep declining, reputational damage would be spreading to Gibraltar and the bank channel and the current range would no longer cover the drag.

Is PGIM's earnings swing a one-off revenue issue or a weakening fee base?

PGIM's direction matters for the quality of group earnings because it is Prudential Financial's least capital-intensive, fee-based business. PGIM's second-quarter pre-tax AOI was $294 million, up about 28% from $229 million a year earlier, and its adjusted operating margin of 28.2% was the highest of the last five quarters[37]. Yet third-quarter other related revenues were pre-announced at only about $20 million and quarter-end assets slipped to $1.47 trillion[1], so PGIM's earnings this quarter could fall well short of the second quarter's.

Fees are still growing, and the volatility is concentrated in other related revenues. Second-quarter asset management fees were $864 million, up about 4.7% from $825 million a year earlier, with $844 million in the prior-year third quarter[8]; other related revenues net of expenses were $57 million in the second quarter and $64 million in the prior-year third quarter[17]. On flows, third-party net inflows were $4.6 billion in the second quarter, driven mainly by public credit and offsetting about $5 billion of equity outflows, while affiliated accounts saw $3 billion of outflows tied to the variable annuity run-off[29].

The drop in other related revenues from $64 million to about $20 million alone lowers PGIM AOI by about $44 million year over year, but whether that means a weaker fee base still has two readings. PGIM's profit depends on fees, which follow average assets, and on other related revenues, which depend on the timing of incentive fees, transaction fees and co-investment income[9][17]. One reading is that incentive and transaction revenue is simply mistimed while fees keep growing; the other is that persistent active equity outflows and the run-off of affiliated assets are eroding the fee base and third-quarter fees will weaken too. Quarter-end assets fell from $1.491 trillion to $1.47 trillion[9][1], and that figure alone cannot separate the two readings.

In the third quarter, watch whether asset management fees stay above the prior-year $844 million[8], whether reported other related revenues come in near the roughly $20 million pre-announcement[1], and whether third-party institutional and retail flows stay positive while active equity outflows widen or not. A year-over-year decline in fees would show the problem is not limited to one-off revenue; a swing to third-party net outflows would weaken the case for expanding the capital-light business.

Can Retirement's investment spread carry a quarter of muted pension risk transfer deals?

Retirement is Prudential Financial's largest profit source, and whether it can hold earnings through a slow PRT period directly sets the floor under group earnings. Retirement Strategies pre-tax AOI was $3.445 billion in 2025, more than half of the $6.637 billion segment total[20]. On the second-quarter call, management said the U.S. PRT market had a notable absence of jumbo transactions in the first half and anticipated full-year volumes below the record levels of recent years[11]; second-quarter PRT and other institutional sales were only $1.367 billion, against $4.326 billion in the prior-year third quarter[38].

The spread is roughly flat for now, and Retirement's earnings swings come more from one-time items and underwriting results. On the new basis including AFP Habitat, Retirement pre-tax AOI was $637 million in the third quarter of 2025 and $433 million in the second quarter of 2026[10], the latter including an expected one-time impact of about −$90 million from the annual assumption update the company flagged in July[39]. Second-quarter net investment income was $2.096 billion and interest credited was $690 million, a difference of about $1.406 billion, essentially flat with about $1.404 billion ($1.963 billion minus $559 million) in the prior-year third quarter[10]; net account values were $362.7 billion and retail annuity sales were $3.585 billion[38], which the company attributed to the registered index-linked annuity launched in December 2025[40].

The spread's transmission is clear, but its trend is disputed. Account value growth and new-money yields lift net investment income, the spread after interest credited is the core of Retirement AOI, PRT and longevity reinsurance deals add new liabilities and future spread, and mortality and run-off underwriting results move each quarter's profit, with the company noting less favorable mortality and run-off in its PRT block in the second quarter[40]. The other reading is that interest credited rose about 35% year over year (from $512 million to $690 million), faster than net investment income's roughly 15% (from $1.819 billion to $2.096 billion)[10], so the spread may narrow, and the prior-year third quarter's high profit came alongside $4.290 billion of premiums in that quarter and is not fully comparable.

In the third quarter, watch the gap between Retirement AOI and the prior-year $637 million and how the company explains one-time items, whether net investment income minus interest credited stays above $1.4 billion, whether PRT and institutional sales return above $2 billion, and how much of the roughly $15 million to $35 million alternative investment upside lands in Retirement[1]. A year-over-year decline in the spread would weaken the view that Retirement is the main growth engine; persistent adverse PRT mortality and run-off would keep pulling underwriting profit lower.

Risks and Falsifiers

The risk in the emerging-market exits is slow capital recovery and undecided use of proceeds. Brazil and Mexico are being sold for $4.025 billion in cash[24], with closing not until the second half of 2027 and subject to regulatory approval, and until then those operations sit in divested businesses[13]; management said the bar is very high for issuing equity or changing the buyback strategy[14]. The exposure is parent cash and capital return: the 2026 buyback authorization is $1.0 billion[22], repurchases run at $250 million a quarter[15], and parent highly liquid assets were $4.2 billion at the end of the second quarter[3]. If the deal is approved on schedule, third-quarter parent highly liquid assets stay above the $3 billion target and buybacks hold at $250 million a quarter, the risk has not materialized.

The risk from the FSA orders is that suspension costs carry into the fourth quarter and early 2027. POJ's suspension now runs to January 31, 2027, and Gibraltar received a partial business suspension order at the same time[7], exposing Japan Businesses pre-tax AOI: the full-year drag guidance is $525 million to $575 million[4], about $375 million has been incurred through three quarters[1], and the cost of the extension has not been quantified. If the fourth-quarter impact stays within the roughly $150 million to $200 million left in the full-year range and sales resume as planned in February 2027, the current understanding holds.

The risk at PGIM is that recurring and one-off revenue weaken at the same time. Persistent active equity outflows and the run-off of affiliated variable annuity assets[29], combined with lower incentive and transaction revenue, have taken other related revenues from $64 million in the prior-year third quarter[17] to about $20 million[1], a year-over-year drop of about $44 million on that line alone. If third-quarter fees stay above $844 million[8] and third-party net flows are positive, the problem remains confined to one-off revenue.

The risk in Retirement is that interest credited grows faster than investment income, compounded by muted PRT activity and the adverse mortality and run-off results cited in the second quarter[40], stalling profit growth. The exposure is Retirement AOI, against a prior-year third-quarter base of $637 million; every 1% decline in the spread (about $14 million) cuts AOI by the same amount[10]. If the third-quarter spread exceeds $1.404 billion and AOI excluding one-time items is no lower than a year earlier, the risk has not materialized.

Credit losses do not enter AOI but can erode book value and capital. Second-quarter pre-tax net credit-related losses were $76 million, against $78 million a year earlier, and are recorded in realized gains and losses rather than AOI[23], so the exposure is GAAP net income and capital. If third-quarter net credit-related losses stay below the prior-year level, concerns about credit deterioration are not borne out.

What to Watch Next

• Japan suspension: Japan Businesses pre-tax AOI against $694 million in Q2 2026 and $750 million in Q3 2025; a year-over-year gap within about $140 million keeps the range credible, while a clearly larger gap means a bigger drag.
• Japan suspension: whether the $525 million to $575 million full-year range, with about $375 million incurred, is raised for the extension to January 31, 2027, and whether a 2027 impact is given.
• Japan suspension: non-POJ sales (Life Consultants $110 million, banks $49 million, independent agency $81 million) and the Life Planner count of 4,068; continued declines would signal spreading reputational damage.
• PGIM fee base: asset management fees against $864 million in Q2 2026 and $844 million in Q3 2025; staying above $844 million suggests the fee base is intact, a decline means the issue is more than one-off revenue.
• PGIM fee base: reported other related revenues against the roughly $20 million pre-announcement, and whether third-party flows stay positive after $4.6 billion of Q2 inflows.
• Retirement spread: net investment income minus interest credited against about $1.406 billion in Q2 2026 and $1.404 billion in Q3 2025; a year-over-year decline would mean the spread is narrowing.
• Retirement spread: AOI against $637 million in Q3 2025 after one-time items, and whether PRT and institutional sales return above $2 billion from $1.367 billion in Q2.
• Capital redeployment: parent highly liquid assets against $4.2 billion and the $3 billion target, and whether $250 million quarterly buybacks continue.

Conclusion

Prudential Financial's earnings rest on three pillars: the Retirement spread, the in-force spread and new business in Japanese life insurance, and PGIM's fees. Segment pre-tax AOI totaled $6.637 billion in 2025, restated after-tax AOI rose 9% in the first half of 2026, parent highly liquid assets were $4.2 billion at the end of the second quarter, and the pace of capital return has not changed[20][15][3]. The central unresolved relationship is whether Japan's earnings growth while new business fell by more than 40% shows a resilient business or an in-force spread temporarily masking the suspension's long-term cost; together with PGIM's sharp drop in other related revenues and muted PRT deal flow in Retirement, that makes the third quarter a test of whether all three pillars can hold at once.

Independent commentary after the second-quarter results has focused on the costs and benefits of the company's narrowing strategy. Maham Fatima of Insider Monkey, in a piece carried by Yahoo Finance, argued that the small Alexforbes stake sale shows the narrower-footprint strategy announced in August is being executed, but that the deal does not close until the first half of 2027 and the strategy will take years to judge; the author framed the bullish condition as earnings continuing to grow while businesses are shed, and the bearish one as the Japan suspension or another large charge showing that the narrower map costs more than it saves[41]. Zacks Equity Research looked at the question through capital management, arguing that the roughly $5 billion reinsurance deal with Prismic covering U.S.-dollar Japanese whole-life policies shows the company scaling up the transfer of capital-intensive liabilities to reinsurers while keeping customer relationships, which over time could free capital for faster-growing businesses, and compared it with MetLife's Chariot Re and AIG's sale of Validus Re[42]. Both pieces agree that the company is actively narrowing and moving capital, but they differ in focus: Insider Monkey treats the Japan suspension as the main potential counterevidence to the narrowing strategy, which maps to the first core debate, while Zacks focuses on the room for buybacks and reinvestment that reinsurance and asset sales together create, which maps to the capital redeployment risk. These are outside interpretations, not facts or a market consensus.

If third-quarter Japan AOI's year-over-year gap stays within the roughly $140 million suspension impact and the company keeps the $525 million to $575 million full-year range, PGIM fees stay above $844 million with positive third-party flows, the Retirement spread holds above $1.4 billion, and parent liquidity and $250 million quarterly buybacks are unchanged, the current understanding of a stable earnings floor and a manageable cost of narrowing would be strengthened. Conversely, if the company raises the Japan drag range because of the extension, non-POJ sales keep falling, PGIM fees decline year over year or the Retirement spread starts to narrow, any two of these together would be enough to weaken that understanding.

Sources

[1] PRU 8-K 2026-10-15 Q3 2026 preliminary information · 2026-10-15 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000210/pru-20261015.htm

[2] Drillr earnings calendar PRU updated 2026-11-02 · 2026-11-02 · Drillr earnings calendar

[3] PRU Q2 2026 earnings release 8-K 2026-08-04 · 2026-08-04 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000170/exhibit991-2q26earningspre.htm

[4] PRU Q2 2026 earnings call 2026-08-05 · 2026-08-05 · earnings-call · https://gateway.drillr.ai/mcp/private

[5] Drillr analyst estimates PRU Q3 2026 retrieved 2026-11-02 · 2026-11-02 · Drillr analyst estimates (4 analysts) · https://gateway.drillr.ai/mcp/private

[6] PRU Q1 2026 earnings call 2026-05-06 · 2026-05-06 · earnings-call · https://gateway.drillr.ai/mcp/private

[7] PRU 8-K 2026-10-09 FSA business suspension orders · 2026-10-09 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000119312526418407/d11107dex991.htm

[8] PRU revised Q2 2026 QFS PGIM revenue and flows · 2026-10-15 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000210/exhibit991-2q26qfsrestatem.htm

[9] PRU Q2 2026 earnings release segment results · 2026-08-04 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000170/exhibit991-2q26earningspre.htm

[10] PRU revised Q2 2026 QFS Retirement statements · 2026-10-15 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000210/exhibit991-2q26qfsrestatem.htm

[11] PRU Q2 2026 earnings call PRT commentary · 2026-08-05 · earnings-call · https://gateway.drillr.ai/mcp/private

[12] PRU 10-K filed 2026-02-12 · 2026-02-12 · 10-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000048/pru-20251231.htm

[13] PRU 8-K 2026-10-15 segment reporting changes · 2026-10-15 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000210/pru-20261015.htm

[14] PRU Q2 2026 earnings call strategy and EM exits · 2026-08-05 · earnings-call · https://gateway.drillr.ai/mcp/private

[15] PRU revised Q2 2026 QFS financial metrics summary · 2026-10-15 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000210/exhibit991-2q26qfsrestatem.htm

[16] PRU FY2025 10-K International Businesses distribution · 2026-02-12 · 10-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000048/pru-20251231.htm

[17] PRU revised Q2 2026 QFS PGIM other related revenues net · 2026-10-15 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000210/exhibit991-2q26qfsrestatem.htm

[18] PRU FY2025 10-K total revenues · 2026-02-12 · 10-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000048/pru-20251231.htm

[19] PRU FY2025 10-K consolidated statements of operations · 2026-02-12 · 10-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000048/pru-20251231.htm

[20] PRU FY2025 10-K segment adjusted operating income · 2026-02-12 · 10-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000048/pru-20251231.htm

[21] PRU FY2025 10-K highly liquid assets · 2026-02-12 · 10-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000048/pru-20251231.htm

[22] PRU FY2025 10-K parent liquidity and buyback authorization · 2026-02-12 · 10-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000048/pru-20251231.htm

[23] PRU Q2 2026 earnings release net income reconciliation · 2026-08-04 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000170/exhibit991-2q26earningspre.htm

[24] PRU 8-K 2026-10-20 sale of Prudential of Brazil and Mexico · 2026-10-20 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000119312526425703/d134410dex991.htm

[25] PRU FY2025 10-K Prudential of Japan 2026 impact estimate · 2026-02-12 · 10-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000048/pru-20251231.htm

[26] PRU FY2025 10-K Retirement Strategies competition · 2026-02-12 · 10-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000048/pru-20251231.htm

[27] PRU FY2025 10-K PGIM competition · 2026-02-12 · 10-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000048/pru-20251231.htm

[28] PRU FY2025 10-K business outlook · 2026-02-12 · 10-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000048/pru-20251231.htm

[29] PRU Q2 2026 earnings call PGIM flows · 2026-08-05 · earnings-call · https://gateway.drillr.ai/mcp/private

[30] PRU FY2025 10-K Japan competition · 2026-02-12 · 10-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000048/pru-20251231.htm

[31] PRU revised Q2 2026 QFS Japan Businesses distribution force · 2026-10-15 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000210/exhibit991-2q26qfsrestatem.htm

[32] PRU revised Q2 2026 QFS Japan Businesses sales · 2026-10-15 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000210/exhibit991-2q26qfsrestatem.htm

[33] PRU 8-K 2026-04-21 POJ suspension extension · 2026-04-21 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000119312526166839/d143575dex991.htm

[34] PRU Q2 2026 earnings call POJ resumption plan · 2026-08-05 · earnings-call · https://gateway.drillr.ai/mcp/private

[35] PRU revised Q2 2026 QFS Japan Businesses statements · 2026-10-15 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000210/exhibit991-2q26qfsrestatem.htm

[36] PRU Q2 2026 earnings release International results · 2026-08-04 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000170/exhibit991-2q26earningspre.htm

[37] PRU revised Q2 2026 QFS PGIM statements · 2026-10-15 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000210/exhibit991-2q26qfsrestatem.htm

[38] PRU revised Q2 2026 QFS Retirement sales and account values · 2026-10-15 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000210/exhibit991-2q26qfsrestatem.htm

[39] PRU 8-K 2026-07-15 annual assumption update · 2026-07-15 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000157/pru-20260715.htm

[40] PRU Q2 2026 earnings release Retirement results · 2026-08-04 · 8-K · https://www.sec.gov/Archives/edgar/data/1137774/000113777426000170/exhibit991-2q26earningspre.htm

[41] Insider Monkey 2026-09-19 Prudential leaving emerging markets · 2026-09-19 · Insider Monkey (via Yahoo Finance) · https://finance.yahoo.com/markets/stocks/articles/prudential-pru-leaving-emerging-markets-201350497.html

[42] Zacks Equity Research 2026-10-07 PRU Prismic reinsurance deal · 2026-10-07 · Zacks · https://www.zacks.com/stock/news/3002064/pru-s-5b-prismic-deal-signals-a-broader-capital-management-strategy