NYSE$MFA

MFA Financial Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Announced first quarter 2022 financial results.

MFA Financial reported a challenging first quarter due to significant fixed income market volatility, particularly impacting mortgage investments. The company proactively managed risk by increasing interest rate hedges and bolstering its cash position. Despite market value decreases in the loan portfolio, strategic measures mitigated the impact, resulting in a moderate book value decline. The company also saw record loan originations at Lima One and reductions in the REO portfolio.

  • Net interest income for the first quarter was $63.1 million.
  • GAAP loss of ($0.86) per common share due to market value decreases in the loan portfolio.
  • Distributable Earnings were $66 million or $0.62 per common share.
  • Residential mortgage investment portfolio increased by approximately $330 million during the first quarter.

Headline financials

Total Revenue

$63.1M

Previous: $31.8M+98.4%
EPS (adj)

$0.62

Previous: $0.68-8.8%
Recourse leverage

1.9

No prior period
Capital Expenditures

-$953K

Previous: -$4.42M+78.4%
Free Cash Flow

-$83.9M

Previous: $81.1M-203.4%
Net Income

-$82.9M

Previous: $85.5M-196.9%
Operating Income

$34M

Previous: -$2.76M+1329.9%
Gross Profit

$59.6M

Previous: $9.41M+533.2%
Cash & Equivalents

$410M

Previous: $781M-47.5%
Total Assets

$9.92B

Previous: $6.72B+47.7%

Revenue & EPS history

MFA Financial · Revenue · Quarterly

$63.1M

Q1 2022+98.4%vs Q1 2021
Beat estimate in 3 of 16 quarters(19%)
ActualEstimate

Revenue by segment

MFA Financial · $125M total across 1 segment · Q4 2022

  • Residential whole loans
    $125M

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

Historical avgQ1 2022

-0.2%

Avg return

Earnings day

-0.5%

Avg return

5 days after

-0.5%

Avg return

30 days after

49%

33 / 68 earnings

Positive

+7.6%

Q2 2024

Best reaction

-10.1%

Q1 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-5.8%-2.5%-8.8%
Q4 2025+2.4%-0.2%-4.4%
Q3 2025+1.3%-0.2%+6.2%
Q1 2025-5.3%-4.4%-4.3%
Q4 2024+0.2%+0.3%+5.5%
Q3 2024-6.2%-6.1%-10.8%
Q2 2024+7.6%+7.5%+13.2%
Q1 2024-2.7%-1.0%-1.7%
Q4 2023+2.8%+0.1%+6.4%
Q3 2023-0.3%-0.6%+11.9%
Q2 2023-4.0%-3.0%-2.7%
Q1 2023+1.1%+1.1%+9.3%
Q4 2022+1.7%+0.6%-14.3%
Q3 2022+4.7%+5.0%+14.6%
Q2 2022-4.9%-5.1%-15.8%
Q1 2022-1.2%-8.8%-7.2%
Q4 2021-4.4%-4.9%-4.7%
Q3 2021+2.0%+1.8%-0.7%
Q2 2021+2.4%+2.6%+5.1%
Q1 2021-1.6%-2.9%+0.5%
Q4 2020+0.0%-3.8%-1.9%
Q3 2020+5.0%+7.8%+33.7%
Q2 2020+2.5%+8.4%-1.8%
Q1 2020-10.1%-11.5%-9.4%
Q4 2019+0.0%-4.1%-54.4%
Q3 2019+1.9%+2.3%+1.5%
Q2 2019+4.8%+3.8%+2.3%
Q1 2019-2.1%-0.7%-3.9%
Q4 2018+0.3%+0.1%-1.2%
Q3 2018+3.8%+4.2%+4.7%
Q2 2018-4.6%-7.0%-4.7%
Q1 2018-0.9%-0.1%+1.8%
Q4 2017+4.2%+2.2%+7.3%
Q3 2017-4.1%-6.8%-3.5%
Q2 2017+1.8%+2.1%+2.7%
Q1 2017-4.0%-3.5%+1.0%
Q4 2016-0.7%-0.2%+0.6%
Q3 2016+2.6%+3.5%+6.4%
Q2 2016+3.2%+3.7%+4.0%
Q1 2016+2.5%
Q4 2015-0.8%
Q3 2015-1.4%
Q2 2015-0.7%
Q1 2015-1.7%
Q4 2014+1.7%
Q3 2014-2.0%
Q2 2014-0.5%
Q1 2014+0.1%
Q4 2013+1.9%
Q3 2013-0.9%
Q2 2013-0.9%
Q1 2013+0.4%
Q4 2012+1.2%
Q3 2012-3.6%
Q2 2012-3.9%
Q1 2012+2.9%
Q4 2011-0.9%
Q3 2011+2.5%
Q2 2011+0.3%
Q1 2010+1.6%
Q1 2011+0.2%
Q4 2008-1.4%
Q4 2009-1.4%
Q4 2010-1.4%
Q3 2010+1.6%
Q3 2009+1.6%
Q2 2009-1.1%
Q2 2010-1.1%

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