American Financial Group Reports Mixed Q4 Results, Revenue Tops Estimates
American Financial Group Inc. (AFG) reported mixed financial results for the fourth quarter of 2022, with earnings falling short of expectations but revenue exceeding forecasts.
Key Financial Metrics:
* Net income: $255 million, or $3.03 per share
* Adjusted earnings: $3.12 per share (missed Zacks consensus estimate of $3.20)
* Revenue: $2.15 billion
* Adjusted revenue: $2.08 billion (surpassed Zacks estimate of $2.01 billion)
For the full year, AFG reported a profit of $887 million, or $10.57 per share, on revenue of $7.94 billion.
Despite the earnings miss, AFG's revenue surpassed Street forecasts, indicating continued growth in its property and casualty insurance business.
Stock Performance:
American Financial shares have declined slightly since the year's beginning but remain 15% higher than the previous 12 months. The stock closed at $136.02 on Tuesday.
This article 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