ARMOUR Q1 GAAP EPS $0.24, down from $1.96 Q4; book value falls to $22.07

Armour Residential REIT, Inc.

2024-Q1 EPS reported $0.24

GAAP net income to common was $11.5M ($0.24/sh) vs $96.6M ($1.96/sh) in Q4 2023 due to sharp MBS losses.
Distributable Earnings to common (non-GAAP) $40.4M ($0.82/sh), down from $52.5M ($1.07/sh) sequentially.
Book value per common share $22.07, decreased from $22.54 at Dec 31; estimated BV $20.48 as of Apr 23.
Included $9.0M non-recurring professional fees related to Special Committee internal investigation.
Common dividends maintained at $0.24/sh monthly; declared $0.24 for May 15 and May 28 pay dates.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Armour Residential REIT, Inc. reported the fiscal quarter ended March 31, 2024 results: revenue $5.3 million, net income $11.5 million, EPS $0.24 per common share.

Period: the fiscal quarter ended March 31, 2024
Revenue: $5.3 million
Net income: $11.5 million
EPS: $0.24 per common share
Result: reported results

Exact text from the filing

ARMOUR Residential REIT, INC. ANNOUNCES Q1 RESULTS AND March 31, 2024 FINANCIAL POSITION VERO BEACH, Florida -- April 25, 2024 -- ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR PRC) (“ARMOUR” or the “Company”) today announced the Company's unaudited Q1 results and March 31, 2024 financial position. ARMOUR's Q1 2024 Results ◦ GAAP net income available to common stockholders of $11.5 million or $0.24 per common share. ◦ Net interest income of $5.3 million.

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Source: SEC EDGAR

accession 0001428205-24-000102

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