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Sep 30, 2022
Annaly Q3 2022 Earnings Report
Reported financial results for the quarter ended September 30, 2022.
Key Takeaways
Annaly Capital Management reported a GAAP net loss of ($0.70) per average common share for the quarter, with earnings available for distribution (EAD) of $1.06 per average common share. The company's total assets increased to $86.2 billion, and the Agency Portfolio grew by 4.5% to $78.2 billion. Annaly was also added to the S&P MidCap 400 Index.
GAAP net loss of ($0.70) per average common share for the quarter.
Earnings available for distribution (EAD) of $1.06 per average common share for the quarter; dividend coverage of 120%.
Total assets of $86.2 billion, up from $82.3 billion in the prior quarter.
Annaly's Agency Portfolio increased by 4.5% to $78.2 billion in assets at the end of the third quarter.
Forward Guidance
The company expects to maintain its defensive positioning due to the difficult operating environment, but views asset valuations as attractive and is prepared to take advantage of opportunities when technical factors improve.
Positive Outlook
- Strong capital base.
- Disciplined portfolio and risk management.
- Deep financing sources.
- Attractive asset valuations.
- Poised to take advantage of opportunities when technical factors improve.
Challenges Ahead
- Elevated market volatility.
- Pressure on book value due to spread widening in Agency MBS.
- Significant moves in interest rates.
- Difficult operating environment.
- Sustained macroeconomic uncertainty.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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