WEST DES MOINES, Iowa (AP) _ American Equity Investment Life Holding Co. (AEL) on Wednesday reported third-quarter earnings of $37.4 million.
The West Des Moines, Iowa-based company said it had profit of 41 cents per share. Earnings, adjusted for non-recurring costs, came to $2.54 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The annuity and insurance underwriter posted revenue of $643.4 million in the period. Its adjusted revenue was $590.4 million.
American Equity shares have fallen slightly more than 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $26.17, a fall of 23% in the last 12 months.