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.