American International Group (AIG) Q2 Earnings and Revenues Lag Estimates

Company Performance - American International Group (AIG) reported quarterly earnings of $1.16 per share, missing the Zacks Consensus Estimate of $1.39 per share, and down from $1.75 per share a year ago, representing an earnings surprise of -16.55% [1] - The company posted revenues of $6.64 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 45.73%, and down from $13.14 billion year-over-year [1] - Over the last four quarters, AIG has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [1] Stock Performance - AIG shares have increased approximately 16.6% since the beginning of the year, outperforming the S&P 500's gain of 14% [2] - The current consensus EPS estimate for the upcoming quarter is $1.56 on revenues of $12.15 billion, and for the current fiscal year, it is $6.40 on revenues of $49.29 billion [4] Industry Outlook - The Zacks Industry Rank for Insurance - Multi line is currently in the top 33% of over 250 Zacks industries, indicating a favorable outlook as the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [5] - Another company in the same industry, Kemper, is expected to report quarterly earnings of $1.19 per share, reflecting a year-over-year change of +557.7%, with revenues expected to be $1.08 billion, down 15% from the year-ago quarter [5][6]