American Financial Swings to Profit

Shares jump.
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American Financial

(AFG) - Get Report

shares rose 5% after the insurer swung to profit in the third quarter.

The Cincinnati-based company earned $93.5 million, or $1.16 a share, in the quarter, compared with a loss of $26.4 million, or 34 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of $1.12 a share.

Third-quarter revenue increased 5.33% from the year-ago period to $1.13 billion.

The company reaffirmed its combined earnings guidance of $4.65 to $4.75 a share in the year 2006 as against analysts' expectation of $4.57 a share.

Shares rose $2.34 to $49.57.

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