Principal Financial Gears Up for Q3 Earnings Test on Oct. 26
PFG missed Q2 revenue estimates but has a raised price target. The Oct. 26 report could be the catalyst traders are watching.
Principal Financial (PFG) closed at $111.96 on October 2, already trading under pressure heading into its Q3 earnings release scheduled for October 26. The stock slipped slightly from its previous close, and that quiet drift tells you the market hasn't made up its mind yet — but it's about to have to.
Q2 was a mixed bag. Revenue came in at $3.91 billion, up year-over-year, but it still missed what analysts were penciling in. A miss on a growing top line is the kind of result that keeps investors cautious rather than confident. That's exactly why October 26 carries real weight — either PFG proves Q2 was a blip or it confirms a trend you don't want to hold through.
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Piper Sandler did throw the bulls a bone, bumping its price target up to $128. That's meaningful upside from current levels, but targets mean nothing if the earnings don't back them up. PFG is still sitting below its 52-week high, which means the stock has room to run — but it also means the momentum hasn't returned yet.
For traders, the setup is straightforward: this is a show-me moment. A beat on both revenue and earnings could close the gap toward that $128 target fast. A second consecutive miss, though, and Piper Sandler's optimism starts looking like wishful thinking. Watch how management frames the outlook — guidance tone will matter as much as the raw numbers on October 26.
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