The earnings call highlighted a strong financial performance with significant growth in core operating earnings and investment income, as well as successful capital management strategies including dividend increases. However, there were some operational challenges such as the timing of crop premium reporting and increased combined ratios in certain segments.

Company Guidance

During the American Financial Group's third-quarter 2025 earnings conference call, the company reported a robust performance with an annualized core operating return on equity of 19%. Core net operating earnings rose by 16% year-over-year to $2.69 per share, up from $2.31 per share in the prior year. Net investment income grew by 5% year-over-year, driven by higher interest rates and increased balances of invested assets. The company's $16.8 billion investment portfolio achieved an annualized return on alternative investments of approximately 6.2% for the quarter. The Property and Casualty businesses demonstrated strong underwriting profitability with a combined ratio of 93%, reflecting a 19% increase in underwriting profit. AFG declared a special dividend of $2 per share, bringing the total special dividends since 2021 to $54 per share. The company anticipates continued significant excess capital generation, providing opportunities for acquisitions, special dividends, or share repurchases. AFG's growth in book value per share, excluding AOCI plus dividends, was nearly 11% for the nine months ended September 30, 2025. The company projects premium growth to rebound in 2026, supported by a favorable pricing environment and new business opportunities.

Strong Return on Equity

American Financial Group reported an annualized core operating return on equity of 19% for the third quarter.

Increase in Net Investment Income

Net investment income increased by 5% year-over-year, driven by higher interest rates and increased balances of invested assets.

Core Net Operating Earnings Growth

Core net operating earnings increased by 16% to $2.69 per share from $2.31 per share in the prior year period.

Dividend Increase and Special Dividend Declaration

The regular quarterly dividend was increased by 10% to $0.88 per share, and a special dividend of $2 per share was declared.

Improved Specialty Property and Casualty Underwriting Profitability

Underwriting profit grew 19% with a combined ratio improvement to 93% from the prior year.

American Financial Group (AFG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

AFG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 10, 2026	2025 (Q4)	3.23 / -	3.12	―	―	―
Nov 10, 2025	2025 (Q3)	2.52 / 2.69	2.31	16.45% (+0.38)
Aug 05, 2025	2025 (Q2)	2.08 / 2.14	2.56	-16.41% (-0.42)
May 06, 2025	2025 (Q1)	2.03 / 1.81	2.76	-34.42% (-0.95)
Feb 04, 2025	2024 (Q4)	3.10 / 3.12	2.84	9.86% (+0.28)
Nov 05, 2024	2024 (Q3)	2.47 / 2.31	2.45	-5.71% (-0.14)
Aug 06, 2024	2024 (Q2)	2.47 / 2.56	2.38	7.56% (+0.18)
May 01, 2024	2024 (Q1)	2.70 / 2.76	2.89	-4.50% (-0.13)
Feb 06, 2024	2023 (Q4)	2.90 / 2.84	2.99	-5.02% (-0.15)
Nov 01, 2023	2023 (Q3)	2.47 / 2.45	2.24	9.37% (+0.21)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

AFG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 10, 2025	$142.25	$142.37	+0.08%
Aug 05, 2025	$123.54	$126.86	+2.69%
May 06, 2025	$128.35	$120.47	-6.14%
Feb 04, 2025	$131.39	$123.20	-6.23%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does American Financial Group (AFG) report earnings?

American Financial Group (AFG) is schdueled to report earning on Feb 10, 2026, After Close (Confirmed).

What is American Financial Group (AFG) earnings time?

American Financial Group (AFG) earnings time is at Feb 10, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is AFG EPS forecast?

AFG EPS forecast for the fiscal quarter 2025 (Q4) is 3.23.

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