American Financial Q2 Profit Flat

(RTTNews) - American Financial Group Inc. (AFG) reported 2019 second quarter net earnings attributable to shareholders of $210 million or $2.31 per share, unchanged from the 2018 second quarter.

Core net operating earnings were $192 million or $2.12 per share for the 2019 second quarter, compared to $185 million or $2.04 per share in the 2018 second quarter. Higher reported core operating earnings in Annuity Segment were offset by lower operating earnings in Specialty Property and Casualty Insurance operations.

P&C insurance net earned premiums were $1.20 billion compared to $1.16 billion in the previous year. Total revenues for the quarter grew to $1.96 billion from $1.83 billion last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $2.06 per share and revenues of $1.2 billion. Analysts' estimates typically exclude special items.

The company now expects 2019 core net operating earnings to be in the range of $8.40 to $8.80 per share, compared to the prior range of $8.35 to $8.85 per share. Analysts expect annual earnings of $8.60 per share.