Principal Financial Group (PFG) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter increased from the preceding quarter and rose compared to the same quarter one year earlier. The sequential gain followed a decline in the immediately prior quarter, while the year-over-year improvement marked a sharp acceleration.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter increased from the preceding quarter and rose compared to the same quarter one year earlier. The sequential gain followed a decline in the immediately prior quarter, while the year-over-year improvement marked a sharp acceleration.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$4.1B
Revenue reported for this quarter.
Quarter-over-quarter
+50.6%
Change from the immediately preceding quarter.
Year-over-year
+43.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$14.9B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $3.6B | -46.6% |
| Sep 30, 2023 | $4.6B | -0.6% |
| Dec 31, 2023 | $2.7B | -14.6% |
| Mar 31, 2024 | $4.1B | +43.8% |
Revenue performance
The reported revenue rose substantially from the preceding quarter, reversing the decline seen in that period. Compared with the same quarter one year ago, revenue also posted a solid increase.
Quarterly comparison
In the preceding quarter revenue had contracted, whereas the current quarter delivered strong sequential growth. On a year-over-year basis, revenue growth accelerated notably relative to the prior year's same quarter.
What to watch
The filing notes that the company monitors liquidity closely and believes it can meet all long-term obligations, but no specific revenue drivers are cited in the provided context.