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Federal Agricultural Mortgage Corp. (AGM)
NYSE:AGM
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$4.17Last Year’s EPS
$4.1Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: 10.23%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Positive
The earnings call presented a predominantly positive outlook with strong core earnings improvements, record renewable energy volumes, and successful technological advancements. However, challenges such as a decline in business volume and increased delinquencies were noted. The company's strong capital position and operating efficiency provide a solid foundation for future growth.Company Guidance
During the Farmer Mac Third Quarter 2024 Earnings Call, management provided several key metrics illustrating the company’s robust performance and strategic direction. Total revenues year-to-date increased by over $10 million to $270 million, largely attributed to a higher net effective spread from new business in renewable energy. Core earnings rose by $1.8 million to $128 million compared to the previous year, and by nearly $7 million when excluding credit expense. Operating efficiency was notably better than the long-term target of 30% throughout 2024. The company reported $2 billion in new business volume for the quarter and $4.9 billion year-to-date, with significant growth in the Renewable Energy and Farm & Ranch segments. Notably, Farmer Mac surpassed $1 billion in total renewable energy volume in Q3, and closed nearly $1 billion in the Farm & Ranch segment year-to-date. The company also maintained a strong capital position with a Tier 1 capital ratio of 14.2% as of September 30, 2024, and held $850 million in cash and short-term instruments, supporting a liquidity position of 309 days. Additionally, core earnings per share were reported at $4.10, reflecting a sequential increase, despite a slight year-over-year decrease due to a $3.3 million provision for losses. These metrics underscore Farmer Mac's strategic focus on diversification, disciplined expense management, and leveraging technological advancements to drive long-term growth and shareholder value.Increase in Core Earnings
Core earnings year-to-date improved by $1.8 million to $128 million compared to the prior year period, with a 6% year-over-year increase net of credit.
Record Business Volume in Renewable Energy
Surpassed $1 billion in total renewable energy volume in the third quarter of 2024, reflecting strong demand and alignment with long-term growth initiatives.
Successful Implementation of STARS
The Securities Treasury Accounting Reporting System (STARS) was launched, marking the largest systems and process implementation in Farmer Mac's history.
Operating Efficiency
Operating efficiency was at 26% for Q3 2024, better than the long-term target of 30%, reflecting disciplined expense management.
Strong Capital Position
Farmer Mac's core capital exceeded statutory requirements by $580 million, highlighting a strong capital position to support growth.
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AGM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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AGM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $181.01 | $192.22 | +6.19% |
| Aug 05, 2024 | $184.87 | $173.78 | -6.00% |
| May 06, 2024 | $189.95 | $181.16 | -4.63% |
| Feb 23, 2024 | $181.20 | $175.31 | -3.25% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Federal Agricultural Mortgage Corp. (AGM) report earnings?
Federal Agricultural Mortgage Corp. (AGM) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Federal Agricultural Mortgage Corp. (AGM) earnings time?
Federal Agricultural Mortgage Corp. (AGM) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AGM EPS forecast?
AGM EPS forecast for the fiscal quarter 2024 (Q4) is $4.17.
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