NYSE$AGM

Federal Agricultural Mortgage Corporation · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Reported record financial results, completing a strategic acquisition and executing a newly-structured, agricultural mortgage-backed securitization.

Farmer Mac finished 2021 with record financial results. The company completed a strategic acquisition of a loan servicing platform and successfully executed a newly-structured, agricultural mortgage-backed securitization.

  • Net income of $107.6 million compared to $89.2 million in 2020, reflecting a 20% year-over-year increase
  • Core earnings (a non-GAAP measure) increased 13% to $113.6 million from $100.6 million in the same period last year
  • Completed strategic acquisition that expanded the internal loan servicing function and acquired the loan servicing rights for a sizeable portion of our Farm & Ranch loan and USDA Guaranteed Securities portfolios
  • Farmer Mac's Board of Directors raised the quarterly dividend on common stock by 8% to $0.95 per share, the eleventh consecutive annual increase

Headline financials

Total Revenue

$65.8M

Previous: $59.7M+10.2%
EPS (adj)

$2.76

Previous: $2.45+12.7%
Net Interest Income (GAAP)

$57.4M

Previous: $56.3M+1.9%
Net Effective Spread (Non-GAAP)

$54.3M

Previous: $54.5M-0.3%
Net Income

$36.7M

Previous: $34.7M+5.7%
Operating Income

$46.5M

Previous: $44M+5.7%
Cash & Equivalents

$909M

Previous: $1.03B-12.1%
Total Assets

$25.1B

Previous: $24.4B+3.2%
Stock-Based Comp

$1.01M

Previous: $1.36M-26.3%

Revenue & EPS history

Farmer Mac · Revenue · Quarterly

$65.8M

Q4 2021+10.2%vs Q4 2020
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Forward guidance

Management's expectations for Farmer Mac's future necessarily involve assumptions and estimates and the evaluation of risks and uncertainties.

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 Q4 2021

Historical avgQ4 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

Earnings price reactions
QuarterReport dateReaction (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%

Discussion

Share your read of this quarter. Sign-in carries your eToro identity.

Join the conversation

Sign in with eToro to post your read of this quarter and vote on others'.

Sign in with eToro