Page 1

EX - 99.12 exhibit991-2q21earningspre.htm EX - 99.1 August 3 , 2021 Earnings Release Prudential Exhibit 99.1 • • Prudential Financial , Inc. Announces Second Quarter 2021 Results Net income attributable to Prudential Financial , Inc. of $ 2.158 billion or $ 5.40 per Common share versus net loss of $ 2.409 billion or $ 6.12 per share for the year - ago quarter . The current quarter included a net after - tax benefit from our annual assumption update and other refinements of $ 180 million or $ 0.46 per Common share versus a charge of $ 84 million or $ 0.21 per share in the year - ago quarter . After - tax adjusted operating income of $ 1.514 billion or $ 3.79 per Common share versus $ 740 million or $ 1.85 per share for the year - ago quarter . The current quarter included a net after - tax charge from our annual assumption update and other refinements of $ 27 million or $ 0.07 per Common share versus $ 266 million or $ 0.66 per share in the year - ago quarter . Book value per Common share of $ 160.31 versus $ 165.53 per share for the year - ago ; adjusted book value per Common share of $ 104.39 versus $ 92.07 per share for the year - ago . Parent company highly liquid assets of $ 4.9 billion versus $ 4.5 billion for the year - ago . • Assets under management of $ 1.730 trillion versus $ 1.605 trillion for the year - ago . • • Capital returned to shareholders of $ 1.335 billion in the quarter , including $ 875 million of share repurchases and dividends of $ 1.15 per Common share , representing a 4 % yield on adjusted book value , versus $ 441 million in the year- ago quarter . As previously announced , the Company's Board of Directors has authorized the repurchase of an additional $ 0.5 billion of its outstanding Common Stock , increasing the authorization to up to $ 2.5 billion from January 1 , 2021 through December 31 , 2021 . Charles Lowrey , Chairman and CEO , commented on results : " We delivered strong financial results for the second quarter , supported by robust investment performance , further progress in achieving our cost savings target , and executing on the re - positioning of the company by taking additional steps to make our products and businesses less market sensitive . I'm pleased with our continued progress towards becoming a higher growth and more nimble company , in part by advancing our divestiture activity while maintaining a disciplined approach to capital deployment . Backed by momentum across our businesses and our rock solid balance sheet , we now expect to return a total of $ 11.0 billion to shareholders through 2023 , up from the $ 10.5 billion announced in May 2021 . Looking forward , we remain confident in our ability to execute against the company's strategy to fulfill our purpose of making lives better by solving the financial challenges of our changing world . " NEWARK , N.J. – Prudential Financial , Inc. ( NYSE : PRU ) today reported second quarter results . Net income attributable to Prudential Financial , Inc. was $ 2.158 billion ( $ 5.40 per Common share ) for the second quarter of 2021 , compared to net loss of $ 2.409 billion ( $ 6.12 per Common share ) for the second quarter of 2020. After - tax - more -