American Financial: Q2 Earnings Snapshot

August 3, 2022 GMT

CINCINNATI (AP) _ American Financial Group Inc. (AFG) on Wednesday reported second-quarter net income of $167 million.

The Cincinnati-based company said it had profit of $1.96 per share. Earnings, adjusted for non-recurring costs, came to $2.85 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.24 per share.

The property and casualty insurer posted revenue of $1.54 billion in the period. Its adjusted revenue was $1.59 billion, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $1.66 billion.

American Financial expects full-year earnings in the range of $10.75 to $11.75 per share.

American Financial shares have dropped 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $129.10, a rise of 1% 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