Principal Financial reports 4Q loss - KWWL - Eastern Iowa Breaking News, Weather, Closings

Principal Financial reports 4Q loss


DES MOINES (AP)--Principal Financial Group Inc. has swung to a fourth quarter loss as it took $188.9 million in investment and loan losses.

In its earnings report released on Monday, the Des Moines-based insurance, retirement, banking and financial services company reported a net loss of $7.5 million, or 3 cents a share. That compares with profit of $34.1 million, or 13 cents per diluted share for the same period a year ago.

Sales totaled $2.5 billion compared to $2.9 billion for the same period last year.

Analysts, on average, expected Principal to earn 66 cents per share on sales of $2.7 billion during the quarter that ended Dec. 31.

The report was filed after the markets closed for the day.

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