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Eagle Point Income Co Inc (EIC)
NYSE:EIC
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 27, 2020
|% Change Since: -0.32%
|Next Earnings Date:Nov 19, 2019
Earnings Call Sentiment|Neutral
The call highlighted strong net investment income, increased trading volume, and robust CLO market activities. However, it also noted decreased cash flows per share, a decline in NAV, and unrealized depreciation. Overall, the positives and negatives were balanced.Company Guidance
During the Eagle Point Income Company (EIC) third quarter earnings call for 2024, significant financial metrics and strategic actions were highlighted. The company generated net investment income and realized gains of $0.57 per share, with recurring cash flows of $13.1 million or $0.76 per share, down from $12.4 million or $0.87 per share compared to the previous quarter. This decrease was attributed to new investments post-third quarter payment dates. Distributions remained consistent at $0.20 per share monthly, with the net asset value (NAV) recorded at $14.90 per share, a 2% decline from June 30, 2024. EIC issued approximately 2.8 million common shares, adding $0.05 per share to NAV through their at-the-market (ATM) program. The company also raised $7.1 million from Series B and Series C term preferred stock issuances. Trading volume for common stock increased by 29% from Q2, tripling year-over-year. Additionally, EIC's portfolio showed a weighted average effective yield of 12% on new CLO purchases, with a significant participation in the leveraged loan market, which saw $40 billion in new CLO issuance during Q3 2024. The firm maintained a leverage ratio within its target range, with an asset coverage ratio for preferred stock and debt comfortably above statutory requirements.Strong Net Investment Income and Gains
The company generated net investment income and realized gains of $0.57 per share during the quarter, with realized gains of $0.08 per share from sales and repayments at par.
Significant Increase in Trading Volume
Daily average trading volume for common stock increased by 29% from the second quarter and more than tripled on a year-over-year basis.
Investment in New CLOs with High Yields
Approximately $90 million of net capital was deployed into new investments with a weighted average effective yield of 12%.
Low Default Rates and Strong Portfolio Positioning
Defaults improved with only 3 leveraged loan defaults in the third quarter. The trailing 12-month default rate declined to 0.80%, well below the historical average of 2.6%. EIC's default exposure stood at 0.6%.
Record CLO Issuance and Refinancing Activity
New CLO issuance reached $40 billion in Q3 2024 and $142 billion year-to-date. The company completed 4 refinancings and 1 reset, reducing debt costs by an average of 32 basis points.
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EIC 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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EIC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 14, 2024 | $15.77 | $15.64 | -0.82% |
| Aug 06, 2024 | $13.99 | $14.28 | +2.07% |
| May 21, 2024 | $14.66 | $14.71 | +0.34% |
| Feb 22, 2024 | $13.67 | $14.02 | +2.56% |
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 Eagle Point Income Co Inc (EIC) report earnings?
Eagle Point Income Co Inc (EIC) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Eagle Point Income Co Inc (EIC) earnings time?
Eagle Point Income Co Inc (EIC) earnings time is at Feb 19, 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 EIC EPS forecast?
Currently, no data Available
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