FGL Holdings (FG) Tops Q1 EPS by 6c
FGL Holdings (NYSE: FG) reported Q1 EPS of $0.37, $0.06 better than the analyst estimate of $0.31. Revenue for the quarter came in at $600 million versus the consensus estimate of $372.29 million.
- Net income available to common shareholders of $163 million, or $0.74 per share, driven by strong operating earnings, as well as favorable mark to market movement
- Adjusted operating income (AOI)1 available to common shareholders up 34 percent to $82 million or $0.37 per share
- Adjusted operating ROE of 17.9 percent
- Total annuity sales up 35 percent to $1,053 million, including a 53 percent year over year increase in fixed indexed annuities (FIAs) sales to $668 million
- Repurchased $30 million of F&G common stock at an average price of $8.00 per share during the quarter
- Reported risk-based capital ratio at March 31, 2019 of approximately 450 percent
"F&G is off to a strong start to 2019, as demonstrated by our first quarter results. We delivered strong sales growth, along with a 34 percent increase in earnings, driven by disciplined product pricing which supports stable net investment spreads," said Chris Blunt, F&G President and Chief Executive Officer. "We have tremendous momentum in all facets of our business, and we are well positioned for future growth opportunities."
For earnings history and earnings-related data on FGL Holdings (FG) click here.
