American International Reports FY2023 Q2 Earnings Results as of June 30, 2023
August 9, 2023
🌥️Earnings Overview
American International ($NYSE:AIG) reported their Q2 FY2023 earnings results on August 2, 2023, for the period ending June 30, 2023. Total revenue for the quarter was USD 13.3 billion, representing a 7.7% decrease year-over-year. Net income declined 51.0% compared to the same quarter last year, coming in at USD 1.5 billion.
Market Price
On Wednesday, AMERICAN INTERNATIONAL released their Fiscal Year 2023 second quarter earnings results for the period ending June 30, 2023. The stock opened at $60.4 and closed at $61.3, up by 1.5% from previous closing price of 60.4. This is a positive indication that the company is doing well financially, which is reflected in the stock price increase.
This indicates that the company is well on its way to achieving its goal of becoming an industry leader in the near future. The company’s stock price increase is a testament to its success and is expected to continue to do well in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for American International. More…
| Total Revenues | Net Income | Net Margin |
| 52.18k | 4.84k | 9.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for American International. More…
| Operations | Investing | Financing |
| 4.72k | -6.8k | 1.97k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for American International. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 537.14k | 490.65k | 59.17 |
Key Ratios Snapshot
Some of the financial key ratios for American International are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.4% | – | 14.3% |
| FCF Margin | ROE | ROA |
| 9.0% | 10.9% | 0.9% |
Analysis
At GoodWhale, we analyzed the fundamentals of AMERICAN INTERNATIONAL to understand its business and investment potential. We further determined that AMERICAN INTERNATIONAL is strong in dividend and weak in asset, growth and profitability. However, its intermediate health score of 6/10, considering its cashflows and debt, suggests that it might be able to safely ride out any crisis without the risk of bankruptcy. More…
Peers
Its competitors include Old Republic International Corp, UNIQA Insurance Group AG, and Zavarovalnica Triglav DD.
– Old Republic International Corp ($NYSE:ORI)
Old Republic International Corp is a holding company that operates in three segments: Insurance Group, Title Insurance Group, and the Commercial Group. The Insurance Group offers property and casualty insurance products, such as automobile and homeowners insurance, to individuals and businesses in the United States. The Title Insurance Group provides title insurance and related real estate products and services in the United States. The Commercial Group offers a range of products and services, including surety bonds, commercial credit insurance, and commercial title insurance.
– UNIQA Insurance Group AG ($LTS:0GDR)
UNIQA Insurance Group AG is one of the leading insurance groups in Austria and Central and Eastern Europe with a market share of around 15 per cent. The Group is represented in more than 20 countries with around 9,000 employees. In the 2019 financial year, UNIQA generated gross premiums written of EUR 5.6 billion. UNIQA Group is part of UNIQA Insurance Group AG.
– Zavarovalnica Triglav DD ($LTS:0KFO)
Triglav is the largest Slovenian insurance company and one of the leading insurers in the Adriatic region. It has been operating for over 125 years and offers a wide range of insurance products for individuals, families and businesses. Triglav is also active in the field of asset management. The company’s share is listed on the Prague and Ljubljana Stock Exchanges.
Triglav’s market capitalization is 726.75 million as of 2022. The company’s return on equity is 10.44%. Triglav is a leading insurer in the Adriatic region with a wide range of insurance products for individuals, families and businesses. The company is also active in asset management.
Summary
American International‘s Q2 FY2023 earnings results demonstrate a decrease in total revenue and net income from the same period last year. Total revenue fell by 7.7%, while net income dropped by 51.0%. Investors should consider this decline when evaluating the company, as it suggests that the market conditions may not be favorable for American International. Analysts should also examine the company’s performance over time to determine whether any changes are necessary to their investment strategy.
