Ellington Financial (EFC) Tops Q2 EPS by 12c

Ellington Financial (NYSE: EFC) reported Q2 EPS of $0.39, $0.12 better than the analyst estimate of $0.27.

• Net income of $37.3 million, or $0.85 per common share.
• Core Earnings1 of $17.1 million, or $0.39 per share.
• Book value per common share as of June 30, 2020 of $15.67, including the effects of dividends of $0.25 per common share for the quarter.
• Credit strategy gross income of $33.7 million for the quarter, or $0.76 per share.
• Agency strategy gross income of $14.9 million for the quarter, or $0.33 per share.
• Dividend yield of 8.9% based on the August 5, 2020 closing stock price of $12.17 per share, and dividend of $0.09 per common share declared on July 8, 2020.
• Debt-to-equity ratio of 2.7:1 and recourse debt-to-equity ratio of 1.5:12 as of June 30, 2020. Adjusted for unsettled purchases and sales, these ratios were not materially different as of June 30, 2020.
• Cash and cash equivalents of $146.5 million as of June 30, 2020, in addition to other unencumbered assets of $311.8 million.

For earnings history and earnings-related data on Ellington Financial (EFC) click here.

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