American Financial Group, Inc. (AFG) reported a strong first quarter in 2021, with net earnings attributable to shareholders of $419 million ($4.84 per share) compared to a net loss of $301 million ($3.34 per share loss) for the 2020 first quarter. Core net operating earnings were $206 million ($2.38 per share), a 75% increase from the prior year period. The company increased its full-year core net operating earnings guidance to $7.00 - $8.00 per share.
Net earnings per share were $4.84, including $2.46 from after-tax non-core items.
Core net operating earnings were $2.38 per share, a 75% increase year-over-year.
The annualized return on equity was 29.9%, with a core operating ROE of 14.7%.
Full-year 2021 core net operating earnings guidance increased to $7.00 - $8.00 per share.
AFG now expects core net operating earnings in 2021 to be in the range of $7.00 to $8.00 per share. This guidance excludes earnings from discontinued annuity operations and assumes zero earnings on parent company cash.
Visualization of income flow from segment revenue to net income
Analyze how earnings announcements historically affect stock price performance