American Equity: Q1 Earnings Snapshot

WEST DES MOINES, Iowa (AP) — WEST DES MOINES, Iowa (AP) — American Equity Investment Life Holding Co. (AEL) on Monday reported a first-quarter loss of $156 million, after reporting a profit in the same period a year earlier.

The West Des Moines, Iowa-based company said it had a loss of $2 per share. Earnings, adjusted for non-recurring costs, came to $1.47 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

The annuity and insurance underwriter posted revenue of $662.5 million in the period. Its adjusted revenue was $561.3 million, which also topped Street forecasts. Six analysts surveyed by Zacks expected $544.7 million.

American Equity shares have dropped 13% since the beginning of the year. In the final minutes of trading on Monday, shares hit $39.88, a climb of 12% in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on AEL at

Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

Federal News Network Logo

More from WTOP

Log in to your WTOP account for notifications and alerts customized for you.

Sign up