AFG Q1 core EPS $2.89 vs $3.56 YoY; acquires Crop Risk Services from AIG

AMERICAN FINANCIAL GROUP INC

2023-Q1 EPS reported $2.49 revenue$1,740,000,000

Core net operating earnings $247M ($2.89/share) vs $303M ($3.56) in Q1 2022, down 18.5% YoY.
Specialty P&C combined ratio 89.2% vs 84.0% YoY; underwriting profit $155M vs $208M.
Full-year 2023 core EPS guidance unchanged at $11.00-$12.00; combined ratio guidance raised to 87%-89%.
Agreed to acquire Crop Risk Services from AIG; expected close Q3 2023, not material to 2023 results.
Excess capital $1.0B; paid $4.63/share dividends including $4.00 special; repurchased $24M stock.

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 0.97

AMERICAN FINANCIAL GROUP INC reported the first quarter of 2023 results: net income $212 million ($2.49 per share), EPS $2.49. Guidance reaffirmed.

Period: the first quarter of 2023
Net income: $212 million ($2.49 per share)
EPS: $2.49
Guidance: reaffirmed
Result: reported results

Exact text from the filing

American Financial Group, Inc. (NYSE: AFG) today reported 2023 first quarter net earnings of $212 million ($2.49 per share) compared to $290 million ($3.40 per share) for the 2022 first quarter.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

AMERICAN FINANCIAL GROUP INC filing history →

Source: SEC EDGAR

accession 0001193125-23-133255

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