EARN reports Q4 net income $12.4M ($0.75/sh); book value $7.32; CLO portfolio grows to $17.4M

Ellington Credit Co

Net income of $12.4M ($0.75 per share); Adjusted Distributable Earnings $4.6M ($0.27 per share).
Book value per share $7.32 as of Dec 31, 2023; net interest margin improved to 2.19% overall.
Debt-to-equity ratio decreased to 5.3:1 (adjusted) from 7.3:1 in prior quarter.
CLO portfolio grew fourfold to $17.4M; company rotating from RMBS to CLOs.
Agency RMBS outperformed hedges; CEO cites market rally and soft landing narrative.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ellington Credit Co reported quarter ended December 31, 2023 results: net income 12.4 million, EPS 0.75 per share.

Period: quarter ended December 31, 2023
Net income: 12.4 million
EPS: 0.75 per share
Result: reported results

Exact text from the filing

Net income (loss) of $12.4 million, or $0.75 per share.

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Ellington Credit Co filing history →

Source: SEC EDGAR

accession 0001560672-24-000011

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