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Angel Oak Mortgage (AOMR)
NYSE:AOMR
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Earnings Data
Report Date
Mar 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.29Last Year’s EPS
-$0.26Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: 5.10%
|Next Earnings Date:Mar 05, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a positive sentiment with significant achievements in debt issuance, securitization, and interest income growth, although challenges such as distributable earnings loss and increased interest expenses were noted.Company Guidance
During the Angel Oak Mortgage REIT's third-quarter 2024 earnings call, the management provided optimistic guidance based on several key metrics. The company reported a 10.3% increase in GAAP book value and a 6.5% rise in economic book value, driven by increased valuations across its portfolio. Net interest income was slightly down at $9 million but is expected to grow significantly in upcoming quarters due to strategic capital deployment from July's debt issuance and a recent 50 basis point cut in the federal funds rate. The company's interest income rose to $27.4 million, marking a 6% increase from the prior quarter and a 15% growth from the same period in 2023. Additionally, the securitization of newly originated loans, such as the October AOMT 2024-10, has resulted in a 110 basis point reduction in funding costs for the underlying loans. The company purchased $264.8 million in loans this quarter, with a weighted average coupon of approximately 7.74%, and maintained a low delinquency rate of 1.95% for loans 90 days delinquent. Looking ahead, Angel Oak Mortgage REIT is poised for asset growth and robust shareholder returns, backed by its efficient origination and securitization platform.Interest Rate Environment Improvement
The easing inflation and employment stability led the Fed to reduce interest rates for the first time since March 2020, allowing AOMR to capitalize on this shift.
Successful Debt Issuance and Securitization
AOMR issued senior unsecured notes and completed a securitization, recycling capital into additional loan purchases, leading to GAAP book value increase of over 10% and economic book value increase of over 6%.
Increased Interest Income
Interest income increased by 6% compared to the previous quarter and 15% growth compared to Q3 2023, driven by rapid deployment of capital into newly originated loan purchases.
GAAP Net Income Growth
The company reported GAAP net income of $31.2 million or $1.29 per diluted common share.
Strong Loan Portfolio Performance
Residential whole loan portfolio carried a weighted average coupon of 7.73% as of the end of the third quarter, a nearly 200 basis point increase from Q3 2023.
Stable and Low Delinquencies
Total portfolio weighted average percentage of loans 90 days delinquent at 1.95%, showing stabilization.
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AOMR 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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AOMR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $8.74 | $9.24 | +5.72% |
| Aug 06, 2024 | $11.62 | $11.59 | -0.26% |
| May 07, 2024 | $10.47 | $10.43 | -0.38% |
| Mar 05, 2024 | $9.36 | $9.22 | -1.50% |
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 Angel Oak Mortgage (AOMR) report earnings?
Angel Oak Mortgage (AOMR) is schdueled to report earning on Mar 05, 2025, TBA Not Confirmed.
What is Angel Oak Mortgage (AOMR) earnings time?
Angel Oak Mortgage (AOMR) earnings time is at Mar 05, 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 AOMR EPS forecast?
AOMR EPS forecast for the fiscal quarter 2024 (Q4) is $0.29.
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