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Freddie Mac (FMCC)
OTHER OTC:FMCC
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Earnings Data
Report Date
Feb 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.9Last Year’s EPS
-$0.05Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 101.52%
|Next Earnings Date:Feb 13, 2025
Earnings Call Sentiment|Positive
Freddie Mac's Q3 2024 earnings call presented strong financial growth and effective execution of its mission to support affordable housing, despite minor increases in delinquency rates and decreased noninterest income due to lower investment gains.Company Guidance
In the third quarter of 2024, Freddie Mac reported robust financial performance, earning $3.1 billion, which marked a 16% year-over-year increase in net income. The company's net worth rose to $56 billion, supported by net revenues of $5.8 billion, up 3% from the previous year. This growth was driven by a 5% increase in net interest income, attributed to lower debt-related expenses and mortgage portfolio expansion, which reached $3.5 trillion. The single-family segment reported $2.6 billion in net income, with a 2% portfolio increase, while the multifamily segment achieved a 47% rise in net income, largely due to a credit reserve release. Freddie Mac continued its commitment to affordable housing, with 51% of home purchases supporting first-time buyers and 68% of financed multifamily units affordable to low-income families. Additionally, the company made strides in sustainability, introducing minimum lease standards for multifamily properties and offering forbearance options for homeowners affected by natural disasters.Strong Net Income Growth
Freddie Mac reported a net income of $3.1 billion for Q3 2024, representing a 16% increase year-over-year, driven by higher net revenues and lower noninterest expenses.
Increased Net Worth
The company's net worth increased to $56 billion, a 26% increase year-over-year.
Single Family Segment Performance
The single family segment reported net income of $2.6 billion, up 11% from the prior year quarter. New business activity increased by 15% to $98 billion.
Multifamily Segment Growth
Multifamily net income was $532 million, up 47% year-over-year, with a 5% increase in the multifamily mortgage portfolio to $452 billion.
Affordable Housing Initiatives
51% of eligible purchase and refinance loans were affordable to low and moderate income families, and 94% of eligible rental units financed were affordable.
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FMCC 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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FMCC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $1.32 | $1.30 | -1.52% |
| Jul 31, 2024 | $1.23 | $1.19 | -3.25% |
| May 01, 2024 | $1.36 | $1.40 | +2.94% |
| Feb 14, 2024 | $1.08 | $1.08 | 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 Freddie Mac (FMCC) report earnings?
Freddie Mac (FMCC) is schdueled to report earning on Feb 13, 2025, TBA Not Confirmed.
What is Freddie Mac (FMCC) earnings time?
Freddie Mac (FMCC) earnings time is at Feb 13, 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 FMCC EPS forecast?
FMCC EPS forecast for the fiscal quarter 2024 (Q4) is $0.9.
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