Loading...
•
Mar 31, 2024
Ellington Financial Q1 2024 Earnings Report
Reported financial results for the quarter ended March 31, 2024.
Key Takeaways
Ellington Financial Inc. reported a net income attributable to common stockholders of $26.9 million, or $0.32 per common share, for the first quarter of 2024. The company's investment portfolio generated $43.0 million, driven by the credit strategy ($40.9 million) and the Agency strategy ($2.1 million). Adjusted Distributable Earnings were $23.7 million, or $0.28 per common share.
Net income attributable to common stockholders was $26.9 million, or $0.32 per common share.
Adjusted Distributable Earnings of $23.7 million, or $0.28 per common share.
Book value per common share as of March 31, 2024 was $13.69, including the effects of dividends of $0.43 per common share for the quarter.
Cash and cash equivalents of $187.5 million as of March 31, 2024, in addition to other unencumbered assets of $544.5 million.
Revenue by Segment
Forward Guidance
The company continues to focus on deploying capital, driving origination profits at Longbridge, and managing sub-performing loans in the commercial bridge loan portfolio, while balancing near-term earnings growth with opportunistic investments.
Positive Outlook
- Focusing on deploying capital into higher-yielding strategies.
- Driving origination profits at Longbridge.
- Managing sub-performing loans in the commercial bridge loan portfolio.
- Balancing near-term earnings growth with opportunistic investments.
- Completed first non-QM securitization of the year, booking a significant gain.
Challenges Ahead
- Working through the few sub-performing loans in our commercial bridge loan portfolio.
- Delinquencies uptick in residential and commercial mortgage loan portfolios.
- Loans in non-accrual status weighed on Adjusted Distributable Earnings.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...