Atlantic American Q3 net income $1.8M vs loss $0.7M; new subsidiary launches

ATLANTIC AMERICAN CORP

2023-Q3 EPS reported $0.09 revenue$140,048,000

Net income of $1.8M ($0.08 diluted EPS) in Q3 2023, compared to net loss $0.7M ($(0.04)) in Q3 2022.
Nine-month net income $2.1M ($0.09) vs $0.5M ($0.01) in prior year; increase driven by favorable life/health claims.
Operating income up $1.9M in Q3; down $0.3M year-to-date due to system implementation costs.
Atlantic Capital Life Assurance Company launched product in select states with more states expected.
Partially offsetting gains: higher administrative costs from group/individual life 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 0.98

ATLANTIC AMERICAN CORP reported the nine month period ended September 30, 2023 results: net income $2.1 million, or $0.09 per diluted share, EPS $0.09 per diluted share.

Period: the nine month period ended September 30, 2023
Net income: $2.1 million, or $0.09 per diluted share
EPS: $0.09 per diluted share
Result: reported results

Exact text from the filing

The Company had net income of $2.1 million, or $0.09 per diluted share, for the nine month period ended September 30, 2023, compared to net income of $0.5 million, or $0.01 per diluted share, for the nine month period ended September 30, 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

ATLANTIC AMERICAN CORP reported the three month period ended September 30, 2023 results: net income $1.8 million, or $0.08 per diluted share, EPS $0.08 per diluted share.

Period: the three month period ended September 30, 2023
Net income: $1.8 million, or $0.08 per diluted share
EPS: $0.08 per diluted share
Result: reported results

Exact text from the filing

Atlantic American Corporation (Nasdaq- AAME) today reported net income of $1.8 million, or $0.08 per diluted share, for the three month period ended September 30, 2023, compared to net loss of $0.7 million, or $(0.04) per diluted share, for the three month period ended September 30, 2022.

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Source: SEC EDGAR

accession 0001140361-23-052968

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