American Equity Investment (AEL) Tops Q1 EPS by 23c

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Go back to American Equity Investment (AEL) Tops Q1 EPS by 23c

American Equity Reports Strong Earnings Driven by Ramping Private Asset Allocation to 24% while Growing Total Sales to $1.4 Billion

May 8, 2023 4:15 PM EDT

Company Highlights

Q1 2023 net loss available to common stockholders of $(166.9) million, or $(2.00) per diluted common share compared to net income of $668.5 million, or $6.83 per diluted common share for Q1 2022 restated for the adoption of Accounting Standards Update 2018-12 more commonly known as Long Duration Targeted Improvements or LDTI. Non-GAAP operating income available to common stockholders1 for the first quarter 2023 was $124.3 million, or $1.47 per diluted common share; Notable items2 negatively impacted results in the quarter by $9.6 million, or $0.11 per share, after-tax. On a... More