American International Group Inc (NYSE:AIG) released its earnings report for the three months through September this afternoon after the market closed on Wall Street. The company showed earnings per share of 96 cents for the quarter on revenue totaling $8.43 billion. On today’s market shares in the company were flat, and finished the day trading at $51.91.
In the run up to the release of today’s earnings report, 21 analysts studying American International Group Inc. (NYSE:AIG) surveyed by Bloomberg were looking for earnings per share of 94 cent from the company by consensus. Consensus revenue estimates for the period came to $8.6 billion. The better than expected results can, in part, be attributed to better than usual weather in the third quarter, and a lack of major disasters.
American International Group Inc (NYSE:AIG) earned $1 per share in the September quarter of 2012, and the company reported revenue of $8.8 million for the quarter. There are many things factoring into AIG earnings, including the weather during the period, the amount of big insurance events, like natural disasters, and the company’s share repurchase program.
By the terms of that program American International Group Inc (NYSE:AIG) intends to return $25 billion to $30 billion by 2015. The program began in 2010. AIG has delivered a string of better than expected earnings reports in recent quarters. The company came through with better earnings in each of the four quarterly reports prior to today’s release.
The performance of American International Group Inc (NYSE:AIG) in 2013 has been admirable. The company’s shares have added more than 47% to their value on the back of better than expected earnings reports and expanding stock prices across the market. The S&P 500 gained just under 24% in the same period.
Executives at American International Group Inc (NYSE:AIG) will host a conference call to discuss this afternoon’s earnings report tomorrow morning at 8 AM EST. Analysts and investors will be hoping the company will provide guidance for the fourth quarter of the year, something it did not do for the current quarter. They will also be looking for an update on the firm’s share repurchase program.