The earnings call presented a mixed outlook with significant growth in equity and RMBS portfolio, alongside challenges such as a decline in advisory service revenues and slight decreases in net interest income. The market's anticipation of higher interest rates adds further uncertainty.
Company Guidance
During the third quarter of 2024 earnings call for Bimini Capital Management, CEO Robert Cauley highlighted several key financial metrics and economic indicators. He noted that Orchid Island Capital reported a net income of $17.3 million, with an increase in shareholders' equity from $555.9 million to $656 million. Bimini's advisory service revenues rose 4% from the previous quarter to approximately $3.3 million, despite a year-to-date decline of 11%. The company's RMBS portfolio at Royal Palm grew by 28% year-to-date and 37% since June 30, 2024. Net interest income for the investment portfolio was $0.3 million for the quarter, contributing to a year-to-date total of $1.04 million. The return for the Agency RMBS index was 4.7%, with an excess return of 0.7% over comparable duration swaps. The company reported a net income before taxes of $0.8 million for the quarter, reversing a net loss of $0.2 million in the second quarter. Cauley also mentioned the potential for declining funding costs, influenced by Federal Reserve rate cuts, and discussed market expectations surrounding the upcoming Presidential election and Federal Open Market Committee meeting.
Increase in Shareholders' Equity
Orchid Island Capital reported an increase in shareholders' equity from $555.9 million to $656 million in Q3 2024.
Growth in RMBS Portfolio
The RMBS portfolio at Royal Palm grew by approximately 28% year-to-date and 37% since June 30, 2024.
Positive Return on Agency RMBS Index
The return for the Agency RMBS index for the quarter was 4.7% on an absolute basis, with an excess return versus comparable duration swaps of 0.7%.
Net Income Before Taxes Improvement
The company reported net income before taxes of $0.8 million for Q3 2024, up from a net loss of $0.2 million in Q2 2024.
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Bimini Capital Management (BMNM) 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
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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BMNM Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Oct 31, 2024
$0.92
$0.95
+3.26%
Aug 01, 2024
$0.86
$0.76
-11.63%
May 02, 2024
$0.65
$0.65
0.00%
Mar 07, 2024
$0.75
$0.75
0.00%
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 Bimini Capital Management Inc (BMNM) report earnings?
Bimini Capital Management Inc (BMNM) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is Bimini Capital Management Inc (BMNM) earnings time?
Bimini Capital Management Inc (BMNM) earnings time is at Mar 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
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