Farmer Mac Q1 net income +17% YoY to $47M; diluted EPS $4.28

FEDERAL AGRICULTURAL MORTGAGE CORP

2024-Q1 EPS reported $4.28

Net interest income grew 9% YoY to $86.4M; net effective spread (non-GAAP) up 8% to $83.0M.
Core earnings $43.4M ($3.96/diluted share), up 12% YoY; GAAP diluted EPS $4.28, up 16%.
Total outstanding business volume $28.8B; provided $1.4B in liquidity to rural lenders.
Core capital $1.5B exceeds statutory requirement by 70%; Tier 1 Capital Ratio 15.5%.
Liquidity position of 295 days as of March 31, 2024.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FEDERAL AGRICULTURAL MORTGAGE CORP reported the fiscal quarter ended March 31, 2024 results: net income $47.0 million, EPS $4.28.

Period: the fiscal quarter ended March 31, 2024
Net income: $47.0 million
EPS: $4.28
Result: reported results

Exact text from the filing

Net income attributable to common stockholders grew 17% year-over-year to $47.0 million

View on SEC.gov

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Source: SEC EDGAR

accession 0000845877-24-000142

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