Prudential reports Q4 adjusted EPS $2.69, consensus $2.65
Fourth quarter 2017 net income included a benefit of $2.871 billion or $6.64 per Common share as a result of the Tax Act. Book value per Common share and adjusted book value per Common share include benefits of $6.59 and $2.74, respectively, as a result of the Tax Act. In addition, Prudential now expects the 2018 effective tax rate on adjusted operating income to be approximately 22%, as compared to the 26% expectation provided on December 14, 2017 in connection with the company's 2018 Financial Outlook. John Strangfeld, Chairman and CEO, commented on results: "Prudential had a solid finish to a strong year. While earnings were impacted by higher expenses in the quarter, underlying fundamentals in our businesses are robust, as evidenced by record assets under management and account values across our operations and solid core growth. As we look to 2018, we see good momentum and opportunities for growth while continuing to focus on key strategic long-term initiatives."