Principal Financial Group’s Earnings Light on Revs and EPS (PFG)

Principal Financial Group, Inc. PFG reports Q2 earnings of $0.63 versus estimates of $0.66. Principal Financial Group, Inc. reports Q2 revenues of $2.23 billion versus estimates of $2.38 billion. The company also said that assets under management were $284.7 billion as of June 30, 2010, an increase of 10 percent compared to $257.7 billion as of June 30, 2009. It also highlighted its strong capital and liquidity, with: an estimated risk based capital ratio of 440 percent at quarter-end, $2.0 billion of excess capital, and $5.7 billion of liquid assets. "The Principal's second quarter results contributed to very solid financial performance for the first half of 2010. Compared to 2009, we've delivered double-digit growth in assets under management, operating earnings, net income and book value per share." said Larry D. Zimpleman, chairman, president and chief executive officer. He added, “This reflects not only ongoing improvement in credit and equity market conditions, but also strong execution of our strategy, and ongoing discipline around expenses and the investment portfolio." Shares of PFG are lower in the after-hours by 1.99%.