NYSE$AGM
Federal Agricultural Mortgage Corporation · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Reported consistent results driven by successful execution against its multi-year growth plan.
Farmer Mac reported a strong first quarter of 2022, marked by consistent results and successful execution of its multi-year growth plan. The company saw growth in net interest income and net effective spread, with a stable-to-improving credit performance.
- Added $3.0 billion of gross business volume, resulting in net growth of $628.9 million.
- Net interest income grew $8.6 million year-over-year to $61.9 million.
- Net effective spread increased 7% from the prior-year period to $57.8 million and remained 0.97% of the overall portfolio.
- Net income of $41.0 million compared to $28.0 million in first quarter 2021.
Headline financials
Revenue & EPS history
Farmer Mac · Revenue · Quarterly
$82.4M
Forward guidance
Management's expectations for Farmer Mac's future necessarily involve assumptions and estimates and the evaluation of risks and uncertainties.
Tailwinds
- the availability to Farmer Mac of debt and equity financing and, if available, the reasonableness of rates and terms
- the level of lender interest in Farmer Mac's products and the secondary market provided by Farmer Mac
- the general rate of growth in agricultural mortgage and rural utilities indebtedness
- the degree to which Farmer Mac is exposed to interest rate risk resulting from fluctuations in Farmer Mac's borrowing costs relative to market indexes
- Farmer Mac's customers benefit from our low cost of funds, low overhead costs, and high operational efficiency.
Headwinds
- legislative or regulatory developments that could affect Farmer Mac, its sources of business, or agricultural or rural infrastructure industries
- fluctuations in the fair value of assets held by Farmer Mac and its subsidiaries
- the effect of economic conditions and geopolitics on agricultural mortgage or rural utilities lending, borrower repayment capacity, or collateral values, including fluctuations in interest rates, changes in U.S. trade policies, fluctuations in export demand for U.S. agricultural products, supply chain disruptions, increases in input costs, labor availability, volatility in commodity prices, and the effects of the conflict between Russia and Ukraine
- developments in the financial markets, including possible investor, analyst, and rating agency reactions to events involving government-sponsored enterprises, including Farmer Mac
- the effects of the Federal Reserve’s efforts to achieve monetary policy normalization and slow inflation
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 2022
+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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