American Financial: Q2 Earnings Snapshot

Associated Press Finance
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CINCINNATI (AP) — CINCINNATI (AP) — American Financial Group Inc. (AFG) on Wednesday reported second-quarter profit of $200 million.

On a per-share basis, the Cincinnati-based company said it had profit of $2.34. Earnings, adjusted for non-recurring costs, came to $2.38 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 $2.85 per share.

The property and casualty insurer posted revenue of $1.84 billion in the period. Its adjusted revenue was $1.73 billion.

American Financial expects full-year earnings in the range of $10.15 to $11.15 per share.

American Financial shares have fallen 11% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $122.75, a fall of roughly 6% 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

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