Western Asset Mortgage Capital (WMC) Misses Q1 EPS by 6c, Miss on Revenues

Western Asset Mortgage Capital (NYSE: WMC) reported Q1 EPS of $0.25, $0.06 worse than the analyst estimate of $0.31. Revenue for the quarter came in at $20.2 million versus the consensus estimate of $22.73 million.

FIRST QUARTER 2017 HIGHLIGHTS

• $0.31 per share common dividend declared.
• GAAP net income of $20.2 million, or $0.48 per basic and diluted share.
• Core earnings plus drop income of $10.3 million, or $0.25 per basic and diluted share.1,2
• 2.01% annualized net interest margin on our investment portfolio.1,5
• Constant prepayment rate (\"CPR\") on the Company\'s Agency RMBS portfolio of 10.5% for the quarter.
• $10.45 per share net book value as of March 31, 2017, net of first quarter common dividend.
• Economic return on book value was 4.8%1,3 for the quarter.
• 5.3x leverage as of March 31, 2017 (5.5x leverage when adjusted for net TBA position1,4).

For earnings history and earnings-related data on Western Asset Mortgage Capital (WMC) click here.

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