Principal Financial posts transcript of Q2 2026 earnings call

Principal Financial Group’s Q2 2026 earnings call drew executives led by CEO Deanna Strable and CFO Joel Pitz, with segment heads joining investor Q&A.

• Adjusted non-GAAP EPS rose 17% year over year to USD 2.42 excluding significant variances; non-GAAP operating earnings were USD 529 million.
• The Beam Benefits deal was announced to expand SMB reach; the target has 25,000 employers, 400,000 members, and USD 175 million in 2025 premium; there was no change to 2026 deployment.
• Asset management posted about USD 11 billion in quarterly net outflows tied to a few US active equity strategies; committed but unfunded pipeline grew to about USD 10 billion.
• Benefits and Protection pretax operating earnings climbed 29% to USD 191 million; Specialty Benefits loss ratio improved 280 bps to 57.4%, with dental gains tied to network moves.