Principal Financial Group Inc. released its second-quarter financial results, reporting a significant increase in net income attributable to PFG, which rose to $406.2 million from $353.1 million, marking a 15% increase compared to the same period last year. The non-GAAP net income, excluding exited business, also saw a notable rise, reaching $432.3 million from $356.2 million, an increase of 21%. Furthermore, non-GAAP operating earnings experienced a 27% increase, amounting to $489.3 million from $386.1 million in the previous year. The company's diluted earnings per common share rose by 20%, reaching $1.79 from $1.49 in the same quarter of the previous year. Principal Financial Group highlighted its strong execution in high-growth markets and maintained competitive advantages, which contributed to the robust EPS growth and continued expansion of return on equity $(ROE)$ during the quarter. Looking forward, the company expressed confidence in delivering on its full-year enterprise outlook across financial metrics, supported by the momentum in its business strategy. Additionally, Principal Financial Group reiterated its commitment to returning excess capital to shareholders while preserving a strong capital position.
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