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Sep 30
Farmer Mac Q3 2025 Earnings Report
Farmer Mac reported strong third-quarter performance with record net effective spread and core earnings, supported by continued portfolio growth.
Key Takeaways
Farmer Mac delivered robust Q3 2025 results, achieving record core earnings and net effective spread. Net income and revenue both showed solid gains as the company maintained strong capital levels and liquidity.
Core earnings reached a record $49.6 million, with diluted core EPS of $4.52.
Net interest income rose to $98.5 million, up from $86.8 million a year ago.
Net income attributable to common stockholders was $48.7 million.
Net effective spread increased to $97.8 million, also a quarterly record.
Farmer Mac
Farmer Mac
Farmer Mac Revenue by Geographic Location
Revenue by Geographic Location
Total Revenue
CapyFin.com Forward Guidance
Farmer Mac remains confident in the health of its portfolio and capital strength, positioning the company for continued growth amid market uncertainty.
Positive Outlook
- Strong capital position with $1.7 billion in core capital
- Tier 1 Capital Ratio of 13.9%
- 317 days of liquidity as of quarter end
- Issued $100 million in new Tier 1 capital via Series H preferred stock
- Diversified portfolio across commodity and geographic lines
Challenges Ahead
- Exposure to interest rate risk through derivative positions
- Potential impacts from global economic disruptions
- Challenges from inflation and input costs in agriculture
- Regulatory and legislative uncertainty remains a factor
- Commodity price volatility could affect borrower performance