Latest News by Industry
CINCINNATI (AP) — CINCINNATI (AP) — American Financial Group Inc. (AFG) on Tuesday reported first-quarter net income of $212 million.
On a per-share basis, the Cincinnati-based company said it had profit of $2.49. Earnings, adjusted for non-recurring costs, came to $2.89 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.88 per share.
The property and casualty insurer posted revenue of $1.74 billion in the period. Its adjusted revenue was $1.79 billion.
American Financial expects full-year earnings in the range of $11 to $12 per share.
American Financial shares have dropped 12% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $121.21, a decrease of 13% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a AFG">Zacks stock report on AFG at https://www.zacks.com/ap/AFG