Atlantic American Q3 net loss narrows to $0.7M; operating income up $4.1M YoY

ATLANTIC AMERICAN CORP

2022-Q3 EPS reported $0.01 revenue$142,620,000

Q3 net loss of $0.7M ($0.04 per diluted share) vs loss of $0.9M ($0.05) in Q3 2021.
Nine-month net income $0.5M ($0.01) down from $1.6M ($0.06) in 2021.
Operating income increased $4.1M in Q3 and $10.2M YTD due to favorable life/health loss experience.
Announced formation of new subsidiary Atlantic Capital Life Assurance Company.
Property and casualty operations remain profitable with top-line growth.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ATLANTIC AMERICAN CORP reported three month period ended September 30, 2022 results: net income net loss of $0.7 million, EPS $0.04 per diluted share.

Period: three month period ended September 30, 2022
Net income: net loss of $0.7 million
EPS: $0.04 per diluted share
Result: reported results

Exact text from the filing

Atlantic American Corporation (Nasdaq- AAME) today reported net loss for the three month period ended September 30, 2022 of $0.7 million, or $0.04 per diluted share, as compared to net loss of $0.9 million, or $0.05 per diluted share, for the comparable period in 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ATLANTIC AMERICAN CORP reported nine month period ended September 30, 2022 results: net income net income of $0.5 million, EPS $0.01 per diluted share.

Period: nine month period ended September 30, 2022
Net income: net income of $0.5 million
EPS: $0.01 per diluted share
Result: reported results

Exact text from the filing

For the nine month period ended September 30, 2022, the Company reported net income of $0.5 million, or $0.01 per diluted share, as compared to net income of $1.6 million, or $0.06 per diluted share, for the comparable period in 2021.

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Source: SEC EDGAR

accession 0001140361-22-040471

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