WEST DEMOINES, Iowa (AP) _ American Equity Investment Life Holding Co. (AEL) on Wednesday reported second-quarter profit of $14.7 million.
On a per-share basis, the West Demoines, Iowa-based company said it had net income of 18 cents. Earnings, adjusted for non-recurring costs, came to 60 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 60 cents per share.
The annuity and insurance underwriter posted revenue of $459.8 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $459.3 million.
American Equity shares have dropped 33 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.08, a fall of 45 percent in the last 12 months.
This story was generated by Automated Insights (http://ift.tt/1nCTSu9) using data from Zacks Investment Research. Access a Zacks stock report on AEL at http://ift.tt/2aX6tYs
Keywords: American Equity Investment, Earnings Report
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