American Financial: 1Q Earnings Snapshot
American Financial: 1Q Earnings Snapshot
CINCINNATI (AP) _ American Financial Group Inc. (AFG) on Wednesday reported first-quarter earnings of $329 million.
On a per-share basis, the Cincinnati-based company said it had net income of $3.63. Earnings, adjusted for investment gains, came to $2.02 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.05 per share.
The property and casualty insurer posted revenue of $2.02 billion in the period. Its adjusted revenue was $1.77 billion.
American Financial expects full-year earnings in the range of $8.35 to $8.85 per share.
American Financial shares have increased 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $103.46, a fall of nearly 9% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AFG at https://www.zacks.com/ap/AFG