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Atlantic American Posts Q1 Net Income of $802,000, Revenue at $50.1 Million
ByAinvest
Tuesday, May 13, 2025 1:55 pm ET1min read
Atlantic American Corp. reported a first-quarter net income of $802,000, a significant improvement from the same period last year. The company's profit per share was 3 cents, and adjusted earnings were 1 cent per share. Revenue for the quarter was $50.1 million. Shares closed at $1.77, down from $1.87 a year ago.
Atlantic American Corporation (Nasdaq: AAME) reported a significant improvement in its financial performance for the first quarter of 2025. The company reported net income of $802,000, a substantial increase from the net loss of $2.0 million reported in the same period last year. The profit per share was 3 cents, and adjusted earnings were 1 cent per share. Revenue for the quarter was $50.1 million.The improvement in net income was primarily driven by an increase in premium revenue and favorable loss experience in the Company’s life and health operations. Premium revenue for the three-month period ended March 31, 2025, increased by $2.4 million, or 5.3%, to $46.9 million from $44.6 million in the same period last year. Operating income, as defined by the company, was $0.3 million in the first quarter of 2025 compared to an operating loss of $2.4 million in the first quarter of 2024.
Chairman, President, and Chief Executive Officer Hilton H. Howell, Jr., commented on the results, stating, “We are pleased to report strong quarterly results, highlighted by improved profitability and solid growth in insurance premiums. New business momentum within our life and health segments remains robust, reinforcing our confidence in the Company’s long-term growth trajectory. While our property and casualty operations faced elevated losses this quarter, we expect recent rate adjustments to begin positively impacting results in the coming periods. Looking ahead, we see significant opportunities and remain confident in our outlook for the remainder of 2025.”
The company's shares closed at $1.77, down from $1.87 a year ago.
[1] https://finance.yahoo.com/news/atlantic-american-corporation-reports-first-173100910.html
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