American Equity: Q3 Earnings Snapshot
WEST DES MOINES, Iowa (AP) — WEST DES MOINES, Iowa (AP) — American Equity Investment Life Holding Co. (AEL) on Tuesday reported third-quarter net income of $476.2 million.
On a per-share basis, the West Des Moines, Iowa-based company said it had net income of $5.82. Earnings, adjusted for non-recurring gains, came to $2.45 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share.
The annuity and insurance underwriter posted revenue of $266.7 million in the period. Its adjusted revenue was $586.6 million, which also topped Street forecasts. Four analysts surveyed by Zacks expected $561.1 million.
American Equity shares have risen 18% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $53.75, a climb of 28% in the last 12 months.
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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
