WEST DES MOINES, Iowa (AP) — WEST DES MOINES, Iowa (AP) — American Equity Investment Life Holding Co. (AEL) on Thursday reported a fourth-quarter loss of $18.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the West Des Moines, Iowa-based company said it had a loss of 34 cents. Earnings, adjusted for non-recurring costs, came to 79 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.
The annuity and insurance underwriter posted revenue of $654.5 million in the period. Its adjusted revenue was $538 million, also falling short of Street forecasts. Seven analysts surveyed by Zacks expected $577 million.
For the year, the company reported profit of $1.22 billion, or $12.86 per share. Revenue was reported as $2.31 billion.
American Equity shares have risen almost 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $47.25, a climb of 10% 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
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