AGNC demonstrated strong economic returns and stable dividends, benefitting from a favorable monetary policy shift and strategic portfolio growth. However, challenges such as a decline in book value in October and increased interest rate volatility present concerns. Overall, the sentiment is cautiously optimistic.

Company Guidance

During AGNC's Q3 2024 earnings call, the company reported a strong economic return of 9.3%, driven by a 5% increase in tangible net book value and a stable monthly dividend of $0.12 per common share. AGNC highlighted a favorable investment environment characterized by wide mortgage spreads, reduced interest rate volatility, and a pivot to an accommodative monetary policy by the Federal Reserve, including a notable rate cut. The company's leverage was slightly reduced to 7.2x tangible equity, and they issued $781 million in common equity through an at-the-market offering program. AGNC's net spread and dollar roll income declined to $0.43 per share due to a narrower net interest rate spread of approximately 220 basis points, offset partially by a reduction in swap-based hedges. As of late October, AGNC's tangible net book value per common share was down about 3.5% after accounting for the dividend accrual, reflecting recent volatility in treasury rates.

Strong Economic Return

AGNC generated a strong economic return of 9.3% in the third quarter, driven by solid book value growth and a stable monthly dividend.

Dividend Stability

AGNC has maintained a stable monthly dividend of $0.12 per common share for 55 consecutive months.

Positive Fed Policy Transition

The Fed pivoted to a more accommodative monetary policy with an initial rate cut, which is expected to lead to a neutral policy stance over the next 12 to 24 months.

Portfolio Growth

AGNC's investment portfolio increased to $72.1 billion as of September 30, with significant additions in Agency MBS.

Comprehensive Income

Total comprehensive income for the third quarter was $0.63 per share, with a tangible net book value increase of 5%.

---

AGNC Investment (AGNC) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

AGNC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 29, 2025	2024 (Q4)	0.42 / -	0.6	―	―	―
Oct 21, 2024	2024 (Q3)	0.50 / 0.43	0.65	-33.85% (-0.22)
Jul 22, 2024	2024 (Q2)	0.54 / 0.53	0.67	-20.90% (-0.14)
Apr 22, 2024	2024 (Q1)	0.57 / 0.58	0.7	-17.14% (-0.12)
Jan 22, 2024	2023 (Q4)	0.59 / 0.60	0.74	-18.92% (-0.14)
Oct 30, 2023	2023 (Q3)	0.62 / 0.65	0.84	-22.62% (-0.19)
Jul 24, 2023	2023 (Q2)	0.63 / 0.67	0.83	-19.28% (-0.16)
Apr 24, 2023	2023 (Q1)	0.65 / 0.70	0.72	-2.78% (-0.02)
Jan 30, 2023	2022 (Q4)	0.66 / 0.74	0.75	-1.33% (-0.01)
Oct 24, 2022	2022 (Q3)	0.69 / 0.84	0.75	12.00% (+0.09)

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

---

AGNC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 21, 2024	$10.12	$9.76	-3.56%
Jul 22, 2024	$9.65	$9.72	+0.73%
Apr 22, 2024	$8.34	$8.49	+1.80%
Jan 22, 2024	$8.47	$8.52	+0.59%

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.

---