American Financial Beats 4Q Profit Forecasts
CINCINNATI (AP) _ American Financial Group Inc. (AFG) on Wednesday reported fourth-quarter earnings of $166 million.
The Cincinnati-based company said it had profit of $1.84 per share. Earnings, adjusted for non-recurring costs, came to $2.20 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.
The property and casualty insurer posted revenue of $1.81 billion in the period. Its adjusted revenue was $1.7 billion.
For the year, the company reported profit of $475 million, or $5.28 per share. Revenue was reported as $6.43 billion.
American Financial expects full-year earnings in the range of $7.90 to $8.40 per share.
American Financial shares have climbed slightly more than 4 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $113.35, an increase of 32 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AFG at https://www.zacks.com/ap/AFG
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