American International Group Third Quarter 2024 Earnings: EPS Misses Expectations

American International Group (NYSE:AIG) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$6.69b (down 49% from 3Q 2023).
• Net income: US$483.0m (down 76% from 3Q 2023).
• Profit margin: 7.2% (down from 16% in 3Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.75 (down from US$2.84 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

American International Group EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 45%.

Looking ahead, revenue is expected to decline by 20% p.a. on average during the next 3 years, while revenues in the Insurance industry in the US are expected to grow by 5.2%.

Performance of the American Insurance industry.

The company's shares are down 1.7% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on American International Group's balance sheet.

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