Filing Flows › American Financial Group (AFG) › Q2 2025
American Financial Group (AFG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
American Financial Group (AFG) reported revenue of $1.9B for the second quarter 2025 (Q2 2025), +1% from a year earlier and +4% from the quarter before. Operating margin was 11.9%, net earnings $174M (9.0% of revenue).
American Financial Group, Q2 2025: revenue $1.9B (+1% year over year), operating margin 11.9%, net earnings $174M, operating cash flow $191M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.9B | +4% | +1% |
| Operating profit | $229M | +16% | -15% |
| Net earnings | $174M | +13% | -17% |
| Operating cash flow | $191M | -44% | — |
What changed
Revenue was $1.9B in Q2 2025, up 1% year over year and up 4% from the previous quarter.
Operating profit was $0.23B, a 11.9% margin (down 2.4 points year over year). Operating profit fell $0.04B even though revenue rose $0.02B versus a year earlier, so costs grew faster than sales. Total costs grew 4% against revenue growth of 1%. Net earnings were $0.17B, down 17% year over year. The effective tax rate was 24.0%.
Operating cash flow was $0.19B, 110% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization.
Questions
What was American Financial Group's revenue in the second quarter 2025?
American Financial Group (AFG) reported revenue of $1.9B for the second quarter 2025 (Q2 2025), +1% from a year earlier and +4% from the quarter before.
Was American Financial Group profitable in the second quarter 2025?
Operating profit was $229M (11.9% of revenue) and net earnings $174M.