American Financial Group (AFG) Tops Q4 EPS by 96c

American Financial Group (NYSE: AFG) reported Q4 EPS of $3.09, $0.96 better than the analyst estimate of $2.13.

“We expect AFG’s core net operating earnings in 2021 to be in the range of $6.25 to $7.25 per share, excluding earnings from our annuity operations, which are being sold to Massachusetts Mutual Life Insurance Company (MassMutual) and are expected to be reported as discontinued operations effective January 1, 2021. These projected core net operating earnings for 2021 also assumes zero earnings on parent company cash, including the $3.0 billion in net cash proceeds (net of real estate-related assets assumed to be acquired by AFG Parent) from the sale of the annuity operations, as AFG’s ultimate deployment of this capital has not been determined. Our core earnings per share guidance excludes non-core items such as realized gains and losses, results of discontinued operations, and other significant items that are not able to be estimated with reasonable precision, or that may not be indicative of ongoing operations. Furthermore, the above guidance reflects an approximately 8% return on alternative investments that are marked-to-market through core earnings and a normal crop year.”

For earnings history and earnings-related data on American Financial Group (AFG) click here.

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