Principal Financial Reports 12% Earnings Growth

The insurer's third-quarter 2026 results highlighted gains in retirement savings, small-business customers, and private markets.

Updated on Nov. 5, 2026 in Corporate Finance

Principal Financial Reports 12% Earnings Growth

Principal Financial reported a 12% year-to-date increase in adjusted non-GAAP earnings per share on its October 27, 2026 earnings call. The company also completed its acquisition of Beam Benefits on September 1, 2026.

Why it matters

The results show growth across retirement plans, small-business insurance and asset management, areas the company says it will keep investing in. Year-to-date earnings growth is tracking at the upper end of its full-year targets.

The company reported that private markets and active ETFs each generated about $2 billion in positive net flows over the trailing 12 months, with $800 million and $500 million in positive net cash flow respectively in the third quarter. The extraction does not specify how these flows compare against prior-year periods or the total assets under management.

The players

Principal Financial

Principal Financial is a Des Moines, Iowa-based financial services company offering retirement, insurance and asset management products.

The details

Principal Financial acquired Beam Benefits, a cloud-native insurance provider, which added more than 26,000 small-business customers and a digital-first platform. Participants are consolidating more retirement savings onto the Principal Financial platform, according to the earnings call.

September 1, 2026: Principal Financial completed the Beam Benefits acquisition.
October 27, 2026: Principal Financial held its third-quarter 2026 earnings call.
2026: Full-year financial targets are scheduled to be delivered.

Market Dynamics

The reported consolidation of retirement savings onto a single platform follows a broader shift among U.S. retirement plan providers toward integrated recordkeeping and asset management. Growth in private markets and active ETF flows reflects continued investor movement toward these asset classes.

Investors holding Principal Financial shares may see the reported 12% year-to-date earnings growth reflected in their portfolios. Retirement plan participants whose savings are consolidated on the platform will see their account contributions and deferrals tracked through the company's system.

The takeaway

Steady growth in retirement contributions and small-business customers signals where Principal Financial is focusing its investment. Readers tracking the company can watch whether its full-year targets are confirmed in its next financial reporting.