Federal Agricultural Mortgage Corp (AGM) Q3 2024 Earnings Call Highlights: Strong Revenue ... [Yahoo! Finance]
Federal Agricultural Mortgage Corporation (AGM.A)
Company Research
Source: Yahoo! Finance
Core Earnings Year-to-Date: $128 million, an improvement of $1.8 million compared to the prior year period. Operating Efficiency: Below the long-term target of 30% throughout 2024. New Business Volume: $2 billion closed this quarter and $4.9 billion year-to-date. Renewable Energy Volume: Surpassed $1 billion in total volume in the third quarter. Farm and Ranch Loan Purchase Volume Year-to-Date: Nearly $1 billion compared to $780 million in the full year 2023. Outstanding Business Volume: $28.5 billion as of September 30, 2024. Core Earnings for Q3 2024: $44.9 million or $4.10 per share. Net Effective Spread: Increased from 114 basis points to 116 basis points this quarter. Liquidity Position: 309 days of liquidity with approximately $850 million in cash and short-term instruments. Operating Expenses: Relatively flat sequentially. Total Allowance for Losses: $21.9 million as of September 30, 2024. 90-Day Delinquencies: 51 basis points as of September 30, 2024.
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