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American Equity: 3Q Earnings Snapshot

WEST DES MOINES, Iowa (AP) _ American Equity Investment Life Holding Co. (AEL) on Monday reported third-quarter profit of $169.3 million.

The West Des Moines, Iowa-based company said it had net income of $1.85 per share. Earnings, adjusted for non-recurring gains, came to 99 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The annuity and insurance underwriter posted revenue of $1.19 billion in the period. Its adjusted revenue was $549.4 million.

American Equity shares have risen nearly 6 percent since the beginning of the year. The stock has climbed almost 10 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AEL at https://www.zacks.com/ap/AEL