Prudential Financial, Inc. (NYSE:PRU) Q2 2024 Earnings Conference Call August 2, 2024 11:00 AM ET
Company Participants
Bob McLaughlin - Vice President, Investor Relations
Charlie Lowrey - Chairman and CEO
Rob Falzon - Vice Chairman
Andy Sullivan - Head, International Businesses and PGIM, Global Investment Manager
Caroline Feeney - Head, U.S. Businesses
Yanela Frias - Chief Financial Officer
Rob Axel - Controller and Principal Accounting Officer
Conference Call Participants
Ryan Krueger - KBW
Suneet Kamath - Jefferies
Elyse Greenspan - Wells Fargo
Wesley Carmichael - Autonomous Research
Tom Gallagher - Evercore ISI
John Barnidge - Piper Sandler
Jimmy Bhullar - JPMorgan
Michael Ward - Citi
Operator
Ladies and gentlemen, thank you for standing by. And welcome to Prudential’s Quarterly Earnings Conference Call. At this time, all participants have been placed in a listen-only mode. Later, we’ll conduct a question-and-answer session. Instructions will be given at that time. [Operator Instructions]
As a reminder, today’s call is being recorded. I will now turn the call over to Mr. Bob McLaughlin. Please go ahead.
Bob McLaughlin
Good morning and thank you for joining our call. Representing Prudential on today’s call are Charlie Lowrey, Chairman and CEO; Rob Falzon, Vice Chairman; Andy Sullivan, Head of the International Businesses and PGIM, our Global Investment Manager; Caroline Feeney, Head of U.S. Businesses; Yanela Frias, Chief Financial Officer; and Rob Axel, Controller and Principal Accounting Officer. We will start with prepared comments by Charlie, Rob, and Yanela, and then we will take your questions.
Today’s discussion may include forward-looking statements. It is possible that actual results may differ materially from the predictions we make today. In addition, our presentation includes references to non-GAAP measures. For a reconciliation of such measures to the comparable GAAP measures and a discussion of factors that could cause actual results to differ materially from those in the forward-looking statements, please see the slides titled Forward-Looking Statements and Non-GAAP Measures in the appendix to today’s presentation and the quarterly financial supplement, both of which can be found on our website at investor.prudential.com.
And now I’ll turn it over to Charlie.
Charlie Lowrey
Thank you, Bob, and thanks to all of you for joining us today. During the second quarter, we continued to grow our market-leading businesses and become more capital efficient to deliver greater long-term value for our stakeholders. Our momentum was driven by robust sales in our U.S. and International Businesses, as well as strong investment performance and originations across PGIM’s Private Alternatives platform. We maintained our disciplined approach to capital deployment by investing in the growth of our businesses and returning excess capital to shareholders. This progress was supported by our strong financial position.