ARMOUR Residential REIT Inc (MEX:ARR)
MXN 355 0 (0%) Market Cap: 21.03 Bil Enterprise Value: 19.74 Bil PE Ratio: 7.89 PB Ratio: 0.78 GF Score: 44/100
Back to the Transcripts List

Q3 2024 ARMOUR Residential REIT Inc Earnings Call Transcript

Oct 24, 2024 / 02:00PM GMT
Release Date Price: MXN355

Key Points

Positve
  • ARMOUR Residential REIT Inc (ARR) reported a Q3 GAAP net income of $62.9 million, translating to $1.21 per common share.
  • The company raised $129.4 million of equity capital through its at-the-market offering program, with minimal dilution to book value.
  • ARMOUR's book value per common share increased by 2.3% during the quarter, from $20.30 to $20.76.
  • ARMOUR Capital Management continues to waive a portion of their management fees, which helps offset operating expenses.
  • The company maintains a diversified and liquid investment portfolio, with a focus on specified pools to mitigate prepayment risk.
Negative
  • ARMOUR's net interest income was relatively low at $1.8 million for the quarter.
  • The estimated book value per common share decreased to $19.58 as of October 18, after accounting for dividends.
  • The repo market is experiencing funding pressures, which are expected to persist through the end of the year.
  • ARMOUR's leverage has increased, with a current implied leverage of 8.6 times, which may pose risks amid market volatility.
  • The company faces potential volatility due to upcoming US elections, which could impact mortgage spreads and market conditions.
Operator

Good day, and welcome to the ARMOUR Residential REIT's third-quarter 2024 earnings conference call. (Operator Instructions) Please note this event is being recorded.

I would now like to turn the conference over to Scott Ulm, Chief Executive Officer. Please go ahead.

Scott Ulm
ARMOUR Residential REIT Inc - Co-Chief Executive Officer, Co-Vice Chairman of the Board and Head of Risk Management

Thank you. Good morning, and welcome to ARMOUR Residential REIT's third-quarter 2024 conference call. This morning, I'm joined by our CFO, Gordon Harper; as well as our Co-CIOs, Sergey Losyev and Desmond Macauley.

I'll now turn the call over to Gordon to run through the financial results.

Gordon Harper
ARMOUR Residential REIT Inc - Chief Financial Officer, Controller, Company Secretary

Thank you, Scott. By now, everyone has access to ARMOUR's earnings release, which can be found on ARMOUR's website, www.armourreit.com. This conference call

Already have an account? Log in
Get the full story
Start 7-Day Free Trial
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot
Research Tools
All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board
Product
Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App 中文
Education
Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation
Company
About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program
Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey
Follow Us
download GuruFocus on Apple store download GuruFocus on Google Play
Disclaimers
GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.
© 2004-2024 GuruFocus.com, LLC. All Rights Reserved.