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Mar 31, 2024
Annaly Q1 2024 Earnings Report
Annaly's financial performance was announced for the quarter, featuring notable GAAP net income and earnings available for distribution.
Key Takeaways
Annaly Capital Management reported a GAAP net income of $0.85 per average common share and earnings available for distribution (EAD) of $0.64 per average common share for the first quarter of 2024. The company's economic return was 4.8% for the quarter, with a book value per common share of $19.73. The total portfolio was $73.5 billion, including $64.7 billion in Agency portfolio.
GAAP net income of $0.85 per average common share was achieved.
Earnings available for distribution (EAD) reached $0.64 per average common share.
Economic return was 4.8% for the first quarter.
Book value per common share stood at $19.73.
Forward Guidance
Annaly remains prepared for elevated volatility with a well-hedged portfolio, a responsible leverage and liquidity profile, and a capital allocation that can perform throughout different interest rate and macro environments. The company continues to see attractive returns across its three investment strategies and is well-positioned for future opportunities.
Positive Outlook
- Well-hedged portfolio
- Responsible leverage and liquidity profile
- Capital allocation designed to perform throughout different interest rate and macro environments
- Attractive returns seen across three investment strategies
- Well-positioned for future opportunities
Challenges Ahead
- Elevated volatility
- Changes in interest rates
- Changes in the yield curve
- Changes in prepayment rates
Historical Earnings Impact
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Avg. Return Before/After Earnings
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