American Equity Reports 3Q Loss

WEST DEMOINES, Iowa (AP) _ American Equity Investment Life Holding Co. (AEL) on Wednesday reported a third-quarter loss of $7.4 million, after reporting a profit in the same period a year earlier.

The West Demoines, Iowa-based company said it had a loss of 9 cents per share. Losses, adjusted for non-recurring costs, came to 5 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The annuity and insurance underwriter posted revenue of $463.6 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $466.7 million.

American Equity shares have dropped 27 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17.46, a drop of 34 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AEL at https://www.zacks.com/ap/AEL

Keywords: American Equity Investment, Earnings Report