American Financial Group (AFG) Q4 Earnings Report Preview: What To Look For

Insurance holding company American Financial Group (NYSE:AFG) will be reporting results this Tuesday after market close. Here’s what to expect.

American Financial Group beat analysts’ revenue expectations by 1.8% last quarter, reporting revenues of $2.20 billion, down 1.3% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ revenue estimates and a decent beat of analysts’ book value per share estimates.

Is American Financial Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting American Financial Group’s revenue to be flat year on year at $2.02 billion, slowing from the 7.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.32 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. American Financial Group has missed Wall Street’s revenue estimates five times over the last two years.

Looking at American Financial Group’s peers in the property & casualty insurance segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Travelers delivered year-on-year revenue growth of 3.2%, beating analysts’ expectations by 0.5%, and Progressive reported revenues up 12.2%, topping estimates by 0.6%. Travelers traded up 3.3% following the results while Progressive’s stock price was unchanged.

Read our full analysis of Travelers’s results here and Progressive’s results here.

Questions about potential tariffs and corporate tax changes have caused much volatility in 2025. While some of the property & casualty insurance stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.3% on average over the last month. American Financial Group is down 4% during the same time and is heading into earnings with an average analyst price target of $142.20 (compared to the current share price of $128.14).

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