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Dec 31, 2019
Farmer Mac Q4 2019 Earnings Report
Farmer Mac's Q4 2019 earnings reflected strong growth in net income and core earnings, driven by increased business volume and net interest income.
Key Takeaways
Farmer Mac reported a strong fourth quarter in 2019, with net income attributable to common stockholders increasing by 49% year-over-year to $29.1 million, or $2.70 per diluted common share. Core earnings also grew by 20% year-over-year to $24.5 million, or $2.27 per diluted common share. The company's net interest income increased by 17% year-over-year to $49.4 million, and net effective spread rose by 18% to $46.0 million.
Net income attributable to common stockholders grew 49% year-over-year to $29.1 million, or $2.70 per diluted common share.
Core earnings, a non-GAAP measure, grew 20% year-over-year to $24.5 million, or $2.27 per diluted common share.
Net interest income grew 17% year-over-year to $49.4 million.
Net effective spread, a non-GAAP measure, increased 18% from the prior-year period to $46.0 million.
Revenue by Geographic Location
Forward Guidance
Farmer Mac is in excellent financial condition and strategically focuses on expanding business volume and market share through innovative solutions to acquire and retain customers. The company believes it will be well-positioned to further expand its bottom line and successfully continue to execute upon its mission while delivering value for its shareholders.
Positive Outlook
- Expanding business volume
- Increasing market share
- Utilizing new, innovative solutions
- Acquiring and retaining customers
- Delivering value for shareholders
Challenges Ahead
- Availability of debt and equity financing
- Legislative or regulatory developments
- Fluctuations in the fair value of assets
- Economic conditions and geopolitics
Historical Earnings Impact
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Avg. Return Before/After Earnings
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