The Motley Fool fool.com 03 Aug, 2022 22:30 am

Prudential Financial (PRU) Q2 2022 Earnings Call Transcript

PRU earnings call for the period ending June 30, 2022.

Our second quarter financial results reflect the impact of macroeconomic environments, including the unusual confluence and magnitude of rising interest rates, widening credit spreads and equity market declines.We recorded $175 million in cost savings during the second quarter for a total of $725 million of run rate savings to date since 2019.Our robust financial position includes a high-quality, well-diversified investment portfolio; our capital position supports a AA financial strength rating; and we had $7 billion in highly liquid assets at the end of the second quarter.During the second quarter, we returned over $800 million to shareholders.

I'll begin on Slide 6 with our financial results for the second quarter of 2022.Retirement Strategies achieved solid sales in the second quarter across its institutional and individual lines of business.

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