This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Prudential Beats Estimates

Prudential (PRU) reversed a year-ago loss in the fourth quarter, as it got a revenue boost from insurance premiums.

The company said its financial services business earned $481 million, or 92 cents a share, compared to a net loss of $71 million, or 10 cents a share, in the year-ago period.

Fourth-quarter revenue was $4.5 billion, down from $4.6 billion in the year-ago period. But revenue from insurance premiums increased to $2.04 billion from $1.96 billion a year ago.

"Our insurance division benefited from our acquisition of American Skandia, which is providing returns consistent with our expectations as the integration proceeds on track," said CEO Arthur Ryan in a statement.

Operating income was $331 million, or 64 cents a share, including a charge for investment losses and discontinued operations, as well as a gain for divested businesses. That's up from $248 million, or 46 cents, a year ago. On that basis, the company beat estimates of 61 cents, according to Thomson First Call.

Prudential said net income for its closed block business -- which includes now discontinued life insurance and annuity policies -- was $94 million, up from a loss of $122 million last year.

Consolidated net income rose to $575 million from a loss of $193 million in the year-ago period.

Looking ahead, Prudential said it expects operating earnings of $3.05 to $3.25 a share, including a 25-cent charge for the combination of its retail securities brokerage with Wachovia (WB). Analysts were forecasting $3.25 a share, based on a survey by Thomson First Call.

Shares of Prudential finished the regular session up 13 cents at $45.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs