AFG Q2 core EPS $2.38, down from $2.85; FY guidance cut to $10.15-$11.15

AMERICAN FINANCIAL GROUP INC

2023-Q2 EPS reported $4.83 revenue$3,580,000,000

Net earnings $200M ($2.34 EPS) vs $167M ($1.96) in Q2 2022; core NOE $202M ($2.38).
Full year 2023 core EPS guidance lowered to $10.15-$11.15 from $11.00-$12.00 due to catastrophe losses.
Specialty P&C underwriting profit fell to $123M from $197M; combined ratio 91.9% vs 85.8%.
Net written premiums up 10% YoY; renewal pricing up ~5% ex workers' comp; guidance raised to 5-8% growth.
Book value per share $47.06; adjusted book $52.90; $700M excess capital after CRS acquisition.

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

AMERICAN FINANCIAL GROUP INC reported the second quarter of 2023 results: net income $200 million ($2.34 per share), EPS $2.34. Guidance lowered.

Period: the second quarter of 2023
Net income: $200 million ($2.34 per share)
EPS: $2.34
Guidance: lowered
Result: reported results

Exact text from the filing

American Financial Group, Inc. Announces Second Quarter Results • Net earnings per share of $2.34; includes $0.04 per share loss from after-tax non-core items • Second quarter core net operating earnings per share of $2.38 • Second quarter annualized ROE of 17.9%; core operating ROE of 18.2% • Net written premiums up 10% year-over-year; 5% renewal rate increases excluding workers’ compensation • Full year 2023 core net operating earnings guidance revised to $10.15 to $11.15 per share, from $11.00 to $12.00 per share estimated previously

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AMERICAN FINANCIAL GROUP INC filing history →

Source: SEC EDGAR

accession 0001193125-23-202327

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