NYSE$AGM
Federal Agricultural Mortgage Corporation · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Farmer Mac's financial performance was strong, marked by substantial growth in core earnings and net effective spread.
Farmer Mac reported a strong first quarter in 2021, with net income attributable to common stockholders at $28.0 million, or $2.58 per diluted common share. Core earnings grew 29% year-over-year to $25.9 million, or $2.39 per diluted common share, and net interest income increased by $12.0 million to $53.3 million.
- Provided $1.5 billion in liquidity and lending capacity.
- Net income attributable to common stockholders was $28.0 million, or $2.58 per diluted common share.
- Core earnings grew 29% from the prior-year period to $25.9 million, or $2.39 per diluted common share.
- Net interest income grew $12.0 million year-over-year to $53.3 million.
Headline financials
Revenue & EPS history
Farmer Mac · Revenue · Quarterly
$62.1M
Forward guidance
Management's expectations for Farmer Mac's future necessarily involve assumptions and estimates and the evaluation of risks and uncertainties.
Tailwinds
- Farmer Mac's low cost of funds
- Farmer Mac's low overhead costs
- Farmer Mac's high operational efficiency
- access to flexible, low-cost financing
- risk management tools
Headwinds
- the duration, spread, and severity of the COVID-19 pandemic and its effects on the business operations of agricultural and rural borrowers, the capital markets, and Farmer Mac's business operations
- the actions taken to address the COVID-19 pandemic, including government actions to mitigate the economic impact of the pandemic, how quickly and to what extent normal economic and operating conditions can resume, the possibility of future disruptions to economic recovery caused by any future outbreaks, regulatory measures or voluntary actions to limit the spread of COVID-19, and the duration and efficacy of any restrictions that may be imposed
- the availability to Farmer Mac of debt and equity financing and, if available, the reasonableness of rates and terms
- legislative or regulatory developments that could affect Farmer Mac, its sources of business, or the agricultural or rural utilities industries
- fluctuations in the fair value of assets held by Farmer Mac and its subsidiaries
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
+0.5%
Avg return
Earnings day
+1.8%
Avg return
5 days after
+1.5%
Avg return
30 days after
58%
38 / 65 earnings
Positive
+13.9%
Q3 2016
Best reaction
-14.5%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.6% | +6.4% | +6.9% | |
| Q4 2025 | -14.5% | -8.0% | -19.4% | |
| Q3 2025 | +4.6% | +3.7% | +11.3% | |
| Q1 2025 | +4.6% | +10.4% | +8.4% | |
| Q4 2024 | +6.3% | +3.7% | -2.1% | |
| Q3 2024 | +5.0% | +12.7% | +17.2% | |
| Q2 2024 | -9.5% | -10.3% | -3.2% | |
| Q1 2024 | -10.8% | -7.6% | -9.5% | |
| Q4 2023 | -5.0% | -5.9% | +1.6% | |
| Q3 2023 | -3.8% | -2.9% | +2.5% | |
| Q2 2023 | +4.7% | +8.1% | -0.3% | |
| Q1 2023 | -4.9% | -1.0% | +15.7% | |
| Q4 2022 | +4.2% | +7.0% | -7.5% | |
| Q3 2022 | +1.7% | +5.4% | +3.0% | |
| Q2 2022 | +2.2% | +6.2% | -1.4% | |
| Q1 2022 | -3.8% | -5.5% | -4.3% | |
| Q4 2021 | -5.8% | -4.8% | -10.5% | |
| Q3 2021 | -3.7% | -1.6% | -6.8% | |
| Q2 2021 | +3.6% | +4.4% | +6.7% | |
| Q1 2021 | -5.6% | -7.5% | -7.5% | |
| Q4 2020 | +1.3% | +4.2% | +18.9% | |
| Q3 2020 | +9.3% | +4.5% | +16.7% | |
| Q2 2020 | +8.7% | +11.1% | +7.3% | |
| Q1 2020 | -9.3% | -8.4% | +10.7% | |
| Q4 2019 | +4.9% | +5.1% | -20.8% | |
| Q3 2019 | -4.7% | -6.2% | -5.5% | |
| Q2 2019 | +1.3% | -2.5% | +6.6% | |
| Q1 2019 | +4.4% | +1.4% | -11.6% | |
| Q4 2018 | +10.7% | +13.1% | -5.3% | |
| Q3 2018 | +0.5% | -0.3% | -16.0% | |
| Q2 2018 | -12.5% | -17.2% | -15.8% | |
| Q1 2018 | -0.7% | +0.6% | +3.0% | |
| Q4 2017 | +3.9% | +4.9% | +5.4% | |
| Q3 2017 | -0.7% | +4.1% | +5.2% | |
| Q2 2017 | -2.1% | -0.1% | -4.4% | |
| Q1 2017 | +12.1% | +11.8% | +18.4% | |
| Q4 2016 | +10.0% | +10.1% | -0.7% | |
| Q3 2016 | +13.9% | +18.8% | +38.5% | |
| Q2 2016 | +4.5% | +2.7% | +5.7% | |
| Q1 2016 | -8.1% | — | — | |
| Q4 2015 | +11.2% | — | — | |
| Q3 2015 | +0.7% | — | — | |
| Q2 2015 | +0.5% | — | — | |
| Q1 2015 | +1.9% | — | — | |
| Q4 2014 | -11.3% | — | — | |
| Q3 2014 | -3.6% | — | — | |
| Q2 2014 | +12.5% | — | — | |
| Q1 2014 | -12.4% | — | — | |
| Q4 2013 | +0.7% | — | — | |
| Q3 2013 | +0.5% | — | — | |
| Q2 2013 | +7.1% | — | — | |
| Q1 2013 | -1.4% | — | — | |
| Q2 2012 | -0.8% | — | — | |
| Q4 2012 | -0.8% | — | — | |
| Q3 2012 | +2.9% | — | — | |
| Q4 2011 | +2.9% | — | — | |
| Q1 2011 | +2.9% | — | — | |
| Q1 2012 | +2.9% | — | — | |
| Q4 2009 | +3.9% | — | — | |
| Q2 2011 | +3.9% | — | — | |
| Q3 2011 | -7.4% | — | — | |
| Q3 2010 | -7.4% | — | — | |
| Q2 2010 | +7.4% | — | — | |
| Q4 2010 | +7.4% | — | — | |
| Q1 2010 | -8.6% | — | — |
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