Global insurance giant AIG (NYSE: AIG) will be reporting results this Thursday after market close. Here’s what to expect.
AIG met analysts’ revenue expectations last quarter, reporting revenues of $6.97 billion, up 5.4% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ net premiums earned estimates but a significant miss of analysts’ book value per share estimates.
Is AIG a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting AIG’s revenue to grow 6.3% year on year, improving from the 3.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. AIG has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at AIG’s peers in the insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Hartford delivered year-on-year revenue growth of 8.1%, meeting analysts’ expectations, and Chubb reported revenues up 6.5%, topping estimates by 2.9%. Hartford traded down 1.2% following the results while Chubb was also down 3.3%.
Read our full analysis of Hartford’s results here and Chubb’s results here.
Investors in the insurance segment have had steady hands going into earnings, with share prices up 1.7% on average over the last month. AIG is down 1.8% during the same time and is heading into earnings with an average analyst price target of $88.55 (compared to the current share price of $79.33).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
