WEST DEMOINES, Iowa (AP) _ American Equity Investment Life Holding Co. (AEL) on Wednesday reported fourth-quarter net income of $120.8 million.
The West Demoines, Iowa-based company said it had net income of $1.35 per share. Earnings, adjusted for investment gains, came to 63 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The annuity and insurance underwriter posted revenue of $622.8 million in the period. Its adjusted revenue was $475.6 million.
For the year, the company reported profit of $83.2 million, or 97 cents per share. Revenue was reported as $1.85 billion.
American Equity shares have climbed 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $24.14, an increase of 64 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/2fHmF4n
Keywords: American Equity Investment, Earnings Report
The post American Equity Beats 4Q Profit Forecasts appeared first on InsuranceNewsNet.
0 Response to " American Equity Beats 4Q Profit Forecasts "
Post a Comment