Ellington Financial Q3 adjusted EPS misses analyst estimates
EFC•EFC•EFC•EFC•Ellington Financial reported Q3 adjusted EPS of $0.45, below the $0.47 analyst estimate, and adjusted net income of $58 million, below the $59.64 million estimate. It issued $150 million in senior unsecured notes and repurchased shares after quarter-end.
Ellington Financial reported Q3 adjusted EPS of $0.45, compared with analyst expectations of $0.47. Adjusted net income was $58 million, below the $59.64 million estimate. Net income was $40.40 million, and net interest margin was 3.55%.
The company said results reflected contributions from retained tranches of non-QM and Agency-eligible securitizations, commercial mortgage bridge loans and corporate credit. Loan originator investments, particularly LendSure, delivered standout results. CEO Laurence Penn said interest rate and credit hedges helped offset late-quarter market volatility.
Ellington Financial issued $150 million in senior unsecured notes and repurchased shares after quarter-end. It did not provide specific financial guidance for the current quarter or full year.
