Atlantic American Q4 EPS $(0.11) Vs $0.05 YoY; Revenue $46.75M Vs $45.23M YoY
Portfolio Pulse from Benzinga Newsdesk
Atlantic American Corporation (AAME) reported a Q4 net loss of $2.2 million, or ($0.11) per diluted share, compared to a net income of $1.0 million, or $0.05 per diluted share, in the same period last year. Annual revenue increased to $46.75M from $45.23M YoY, but the company experienced a net loss of $0.2 million for the year, down from a net income of $1.5 million in the previous year. The losses were attributed to increased insurance benefits and losses, higher debt service costs due to rising interest rates, and a decrease in earned premiums. Despite these challenges, the company announced an annual dividend of $0.02 per share, payable in April 2024.
April 01, 2024 | 8:24 pm
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Atlantic American Corporation reported a Q4 net loss and a decrease in annual net income, but announced an annual dividend of $0.02 per share.
The reported net loss for Q4 and the annual decrease in net income are likely to negatively impact investor sentiment in the short term. However, the announcement of an annual dividend may provide some offsetting positive sentiment. The net effect is expected to be negative due to the weight of financial losses over the dividend announcement.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100