Can one of those in the know and with market acumen explain today’s numbers, like I’m a 5 year old? Much appreciated.
4 replies (most recent on top)
For the 5 year old.....Well Johnny, the big old company made some good money.....of which....you get none. So, go play and let the adults worry about such things.
Nice description on earnings. $1.3 billion stock buy backs this quarter. $1.8 billion to buy back debt. Over $3 billion invested in one thing. The share holder and not the employees.
Look for execs to cash out some stock options in the near future. Rinse/repeat every quarter. Resign after 5 years with $100 million in the bank. Easy money.
I think aig should have gone bankrupt in 2008, but I'm happy they didn't because I'm working for them since 2011. Now I just hope I can jump on another train before this one derail
Basically they bought back 1.3billion in stock and bought back some debt and the average value per share was less than last year by about 30%. Pretty dismal.
The non GAAP metrics used like adjusted accident year combined ratio, Adjusted Book value etc are laughable.
The fact no analysts ever call them out on metrics you’d only see Lemonade use shows why being a sell side analyst is one step above a back office job…
“Repurchased $1.3 billion of AIG common stock in the third quarter
Announced the redemption and repurchase of approximately $1.8 billion of aggregate
principal amount of debt, which has closed
Net income per diluted common share was $3.50 and adjusted after-tax income* (AATI) per diluted common share was $0.66 compared to $0.97 in the prior year quarter”