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保德信金融集团Prudential Financial(PRU)2025年第一季度财报电话会议纪要「NYSE」(英文版)(22页).pdf

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1、 Corrected Transcript 1-877-FACTSET Total Pages:22 Copyright 2001-2025 FactSet CallStreet,LLC 01-May-2025 Prudential Financial,Inc.(PRU)Q1 2025 Earnings Call Prudential Financial,Inc.(PRU)Q1 2025 Earnings Call Corrected Transcript 01-May-2025 1-877-FACTSET 2 Copyright 2001-2025 FactSet CallStreet,LL

2、C CORPORATE PARTICIPANTS Robert McLaughlin Head-Investor Relations,Prudential Financial,Inc.Andrew F.Sullivan Chief Executive Officer&Director,Prudential Financial,Inc.Yanela del Carmen Frias Chief Financial Officer&Executive Vice President,Prudential Financial,Inc.OTHER PARTICIPANTS Ryan Krueger An

3、alyst,Keefe,Bruyette&Woods,Inc.Thomas Gallagher Analyst,Evercore ISI Bob Huang Analyst,Morgan Stanley&Co.LLC Suneet Kamath Analyst,Jefferies LLC Joel Robert Hurwitz Analyst,Dowling&Partners Securities LLC John Barnidge Analyst,Piper Sandler&Co.Elyse Greenspan Analyst,Wells Fargo Securities LLC Jimmy

4、 S.Bhullar Analyst,JPMorgan Securities LLC Jack Matten Analyst,BMO Capital Markets Corp.Wes Carmichael Analyst,Autonomous Research US LP Alex Scott Analyst,Barclays Capital,Inc.Michael Ward Analyst,UBS Securities LLC Prudential Financial,Inc.(PRU)Q1 2025 Earnings Call Corrected Transcript 01-May-202

5、5 1-877-FACTSET 3 Copyright 2001-2025 FactSet CallStreet,LLC MANAGEMENT DISCUSSION SECTION Operator:Ladies and gentlemen,thank you for standing by,and welcome to Prudentials Quarterly Earnings Conference Call.At this time,all participants have been placed in a listen-only mode.Later,well conduct a q

6、uestion-and-answer session.Instructions will be given at that time.Operator Instructions As a reminder,todays call is being recorded.I will now turn the call over to Mr.Bob McLaughlin.Please go ahead.Robert McLaughlin Head-Investor Relations,Prudential Financial,Inc.Good morning,and thank you for jo

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1. **业绩表现**:2025年Q1调整后运营收入15亿美元,每股收益3.29美元,同比增长8%;PGIM资产管理规模达1.4万亿美元,净流入43亿美元。 2. **业务亮点**:美国退休业务销售额超100亿美元(机构70亿、个人35亿);日本储蓄/退休产品销售额同比增20%;新兴市场销售额增19%。 3. **挑战与应对**:日本因日元贬值导致退保压力,预计2025年拖累earnings 1亿美元;美国传统年金和保证型万能险业务持续 runoff,年影响earnings 1-1.5亿美元。 4. **战略重点**:CEO强调优化资本配置、提升执行效率及培育高绩效文化;PGIM目标三年内调整后利润率提至25%-30%。 5. **资本状况**:现金及流动性资产49亿美元,远超30亿美元最低目标;日本ESR实施后资本水平仍将支持AA评级。
日本业务前景如何? 变年金风险如何化解? PGIM增长目标能否实现?
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