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AFC Gamma (AFCG)
NASDAQ:AFCG
Holding AFCG?
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Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.38Last Year’s EPS
$0.34Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 13, 2024
|% Change Since: -5.08%
|Next Earnings Date:Mar 06, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed sentiment. AFC demonstrated strong performance by exceeding loan origination targets and maintaining a high portfolio yield. However, challenges in the cannabis industry, including increased competition and slower federal reform, pose risks. Additionally, the increase in unrealized losses is a concern.Company Guidance
During Advanced Flower Capital's Q3 2024 earnings call, the company provided comprehensive guidance, highlighting several key metrics. They reported exceeding their annual loan origination target by reaching $116 million, surpassing their original goal of $100 million. The company's distributable earnings for the quarter were $0.35 per basic weighted average share, and they declared a dividend of $0.33 per share. AFC's portfolio consisted of $338 million in principal outstanding across 14 loans, with a weighted average yield to maturity of 18%. The company also raised $12.2 million through their ATM offering program, bolstering their capital base. AFC reported net interest income of $8.9 million and a GAAP net income of $1.4 million for the quarter. As of September 30, 2024, their CECL reserve was $25.3 million, approximately 10.7% of the loans at carrying value. Despite challenges in the cannabis industry and a cautious lending environment, AFC remains well-positioned to capitalize on market opportunities with substantial liquidity and a robust pipeline of potential deals.Exceeded Loan Origination Target
AFC originated approximately $59 million in new loans and exceeded their $100 million origination target for the year, reaching $116 million in total new originations.
Strong Pipeline of Potential Deals
As of November 1, AFC had an active pipeline of over $400 million of potential deals.
Successful Capital Raises
The company raised capital accretively through their ATM stock offering program, selling approximately 1.2 million shares and generating net proceeds of $12.2 million.
High Portfolio Yield
The portfolio has a weighted average yield to maturity of 18%, with 90% of the portfolio being fixed or having a sulfur floor at 4.5% or above.
Significant Paydowns and Progress in Restructuring
AFC exited restructuring or secured significant paydowns on 7 key loans, repaying approximately $150 million in capital.
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AFCG 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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AFCG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | $9.45 | $9.24 | -2.22% |
| Aug 07, 2024 | $8.41 | $9.11 | +8.32% |
| May 09, 2024 | $7.81 | $7.76 | -0.64% |
| Mar 07, 2024 | $6.91 | $7.04 | +1.88% |
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 AFC Gamma (AFCG) report earnings?
AFC Gamma (AFCG) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is AFC Gamma (AFCG) earnings time?
AFC Gamma (AFCG) earnings time is at Mar 06, 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 AFCG EPS forecast?
AFCG EPS forecast for the fiscal quarter 2024 (Q4) is $0.38.
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