Farmer Mac (AGM) Tops Q4 EPS by 16c

Farmer Mac (NYSE: AGM) reported Q4 EPS of $2.45, $0.16 better than the analyst estimate of $2.29.

• Provided $1.3 billion in liquidity and lending capacity in fourth quarter 2020;
• Net income attributable to common stockholders was $29.4 million, or $2.73 per diluted common share;
• Core earnings, a non-GAAP measure, grew 8% from the prior-year period to $26.4 million, or $2.45 per diluted common share;
• Net interest income grew $6.9 million year-over-year to $56.3 million;
• Net effective spread, a non-GAAP measure, increased 18% from the prior-year period to $54.5 million;
• 90-day delinquencies were 0.21% of total outstanding business volume as of December 31, 2020;
• Continued strong liquidity position, as evidenced by year-end cash position of $1.0 billion; and
• Executed total COVID-19 payment deferments for $432.0 million of unpaid principal balance related to Farm & Ranch loans, Farm & Ranch LTSPCs, and USDA Securities to provide relief to borrowers from April 1, 2020 through December 31, 2020.

For earnings history and earnings-related data on Farmer Mac (AGM) click here.

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