American Equity Investment Life Holding Co. (NYSE:AEL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
American Equity Investment Life Holding Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 18.6% to $0.51 in the quarter versus EPS of $0.43 in the year-earlier quarter.
Revenue: Rose 127.43% to $438.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: American Equity Investment Life Holding Co. reported adjusted EPS income of $0.51 per share. By that measure, the company beat the mean analyst estimate of $0.45. It beat the average revenue estimate of $333.34 million.
Quoting Management: David J. Noble, founder and Executive Chairman said: “Second quarter 2013 financial results were very satisfactory. Assets under management grew 4% from last quarter which includes sales of $1.1 billion. Our operating income per share, exclusive of the charge for the ELNY state guaranty fund assessments, grew 19% year over year and translated into an 11.1% return on average equity for the trailing 12 months. And most importantly, our investment spread for the quarter was 2.70% and we made significant progress investing our excess cash and short-term investments into higher yielding investments.”
Key Stats (on next page)…