American Equity Reports First Quarter 2019 Results

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Go back to American Equity Reports First Quarter 2019 Results

American Equity Investment (AEL) Tops Q1 EPS by 5c, Revenues Beat

May 1, 2019 4:18 PM EDT

American Equity Investment (NYSE: AEL) reported Q1 EPS of $0.97, $0.05 better than the analyst estimate of $0.92. Revenue for the quarter came in at $1 billion versus the consensus estimate of $628.23 million.

Company Highlights

First quarter 2019 net loss of $30.0 million or $0.33 per diluted common shareFirst quarter 2019 non-GAAP operating income1 of $89.4 million or $0.97 per diluted common shareFirst quarter 2019 annuity sales of $1.2 billionPolicyholder funds under management of $51.6 billionFirst quarter 2019 investment spread of 2.58%Estimated risk-based capital ratio of 352% compared to 360% at December 31, 2018

Commenting on sales, John Matovina, Chairman and Chief Executive... More