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Dec 31, 2024
Farmer Mac Q4 2024 Earnings Report
Farmer Mac reported strong earnings growth with a 24% increase in diluted EPS and higher net interest income for Q4 2024.
Key Takeaways
Farmer Mac reported Q4 2024 net income of $50.8 million, up from $40.8 million in Q4 2023. Revenue increased to $93.37 million, reflecting higher net interest income. Diluted EPS grew 24% year-over-year to $4.63, while core EPS slightly declined to $3.97. The company also announced a 7% increase in its quarterly dividend.
Net income increased 24.5% to $50.8 million.
Revenue rose to $93.37 million, driven by higher net interest income.
Diluted EPS grew to $4.63, while core EPS decreased to $3.97.
Farmer Mac announced a 7% dividend increase, marking 14 consecutive years of dividend growth.
Revenue by Geographic Location
Forward Guidance
Farmer Mac expects continued earnings growth in 2025, supported by strong liquidity, capital levels, and a diversified business mix.
Positive Outlook
- Strong liquidity position with 264 days of cash reserves.
- Continued growth in net interest income and net effective spread.
- Ongoing dividend increases supported by earnings potential.
- Resilient capital position with a Tier 1 Capital Ratio of 14.2%.
- Favorable business environment for rural infrastructure financing.
Challenges Ahead
- Potential headwinds from interest rate fluctuations impacting loan demand.
- Economic uncertainty may affect agricultural and infrastructure lending.
- Regulatory changes could impact operations and funding costs.
- Market volatility may lead to fluctuations in net interest margin.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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