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Chimera Investment Corp. (CIM)
NYSE:CIM
Earnings Data
Report Date
May 01, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.44Last Year’s EPS
0.36Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 12, 2025
|% Change Since: -9.15%
|Next Earnings Date:May 01, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook with notable achievements like the Palisades acquisition and strong demand for new homes, but also faced challenges such as a GAAP net loss in Q4 and housing market difficulties. The sentiment is slightly tilted towards the positive due to strategic acquisitions and plans for diversified growth.Company Guidance
During the fourth quarter and full year 2024 earnings call for Chimera Investment Corporation, several key metrics and strategic plans were discussed. The company reported a GAAP net loss of $168.3 million for the fourth quarter, translating to $2.07 per share, but achieved a GAAP net income of $90.3 million for the full year, equivalent to $1.10 per share. The GAAP book value at the end of the fourth quarter was $19.72 per share. Despite a negative economic return on GAAP book value of 10.1% for the quarter, the full-year economic return was positive at 4.4%, incorporating $1.42 in dividends for 2024. The company executed strategic portfolio adjustments, including deploying $209 million from equity and debt raises into floating rate agency CMOs, residential transition loans, and non-QM loans. They also closed the acquisition of the Palisades Group, expanding their capabilities in residential real estate credit and aiming to increase fee-based income. Looking forward to 2025, Chimera plans to diversify its portfolio, enhance liquidity, and potentially increase agency RMBS holdings, while also exploring opportunities in mortgage servicing rights to hedge against loan portfolio risks. The company's total leverage stood at 4 to 1, with recourse leverage at 1.2 to 1, and they ended the year with $610 million in cash and unencumbered assets.Home Price Appreciation
US home prices rose 4.3% between Q3 2023 and Q3 2024, positively impacting homeowners' equity.
Strong Demand for New Homes
Completed new homes estimated to sell in 2.8 months, indicating strong demand for newly built homes.
Increase in Credit Spreads and Investor Demand
Credit spreads tightened and non-agency RMBS gross issuance nearly doubled from $71 billion in 2023 to $137 billion in 2024.
Palisades Acquisition
Acquisition of Palisades Group, enhancing Chimera's ability to provide third-party investment management and advisory services.
Quarterly Dividend Increase
Chimera increased its quarterly dividend by 12% in 2024.
Positive Full Year Economic Return
Economic return was a positive 4.4% for the full year 2024.
Successful Securitization
Chimera closed its first securitization of 2025, financing $287 million of investor loans with strong demand.
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CIM 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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CIM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 12, 2025 | $15.09 | $13.91 | -7.82% |
| Nov 06, 2024 | $14.54 | $14.54 | 0.00% |
| Aug 07, 2024 | $12.98 | $13.90 | +7.09% |
| May 09, 2024 | $11.77 | $13.08 | +11.13% |
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 Chimera Investment Corp. (CIM) report earnings?
Chimera Investment Corp. (CIM) is schdueled to report earning on May 01, 2025, TBA Not Confirmed.
What is Chimera Investment Corp. (CIM) earnings time?
Chimera Investment Corp. (CIM) earnings time is at May 01, 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 CIM EPS forecast?
CIM EPS forecast for the fiscal quarter 2025 (Q1) is 0.44.
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