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Stock impact report

Prudential forecasts profit below Wall Street expectations [Reuters]

Prudential Financial, Inc. (PRU) 
Last prudential financial, inc. earnings: 2/4 04:18 pm Check Earnings Report
US:NYSE Investor Relations: investor.prudential.com
Company Research Source: Reuters
Prudential forecasts profit below Wall Street expectations | Reuters 1 Min Read Dec 6 (Reuters) - U.S. insurer Prudential Financial Inc forecasts 2019 profit largely below Wall Street expectations. The largest U.S. insurer by assets said it expects a full-year earnings per share in the range of $12.50 to $13 in 2019, falling below analysts’ estimate of $12.97 per share profit, according to Refinitiv IBES data. The company also authorized a $2 billion worth share repurchase program in 2019. [ bit.ly/2zHSIth ] Prudential’s adjusted return on equity is expected between 12 percent and 13 percent next year, the company said during a conference call. The company also assumes corporate and other estimated annual operating losses of $1.3 billion, along with an effective tax rate of about 21.5 percent next year. (Reporting by Mary Ann Alapatt in Bengaluru; Editing by James Emmanuel) All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2018 Show less Read more
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