WEST DES MOINES, Iowa (AP) _ American Equity Investment Life Holding Co. (AEL) on Wednesday reported fourth-quarter earnings of $53.8 million.
The West Des Moines, Iowa-based company said it had profit of 59 cents per share. Earnings, adjusted for one-time gains and costs, came to 99 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.
For the year, the company reported profit of $458 million, or $5.01 per share. Revenue was reported as $2.15 billion.
American Equity shares have increased 12 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.43, a rise of almost 3 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