Annaly Capital Management (NLY) Tops Q1 EPS by 3c

Annaly Capital Management (NYSE: NLY) reported Q1 EPS of $0.29, $0.03 better than the analyst estimate of $0.26. Revenue for the quarter came in at $687.41 million versus the consensus estimate of $575.4 million.

Financial Highlights

• GAAP net income of $1.23 per average common share for the quarter, up from $0.60 in the prior quarter
• Core earnings (excluding PAA) of $0.29 per average common share for the quarter, down $0.01 quarter-over-quarter and up $0.08 year-over-year with dividend coverage of +130%
• Economic return and tangible economic return(1) of 2.8% and 3.6%, respectively, for the first quarter
• Annualized GAAP return on average equity of 49.9% and annualized core return on average equity (excluding PAA) of 12.5%
• Book value per common share of $8.95, up $0.03 quarter-over-quarter and reflecting a ($0.07) per share impact primarily resulting from the writedown of goodwill related to the Company’s 2013 acquisition of CreXus Investment Corp.
  • Tangible book value per common share(1) of $8.93, up $0.10 quarter-over-quarter
• Economic leverage of 6.1x, down slightly from 6.2x the prior quarter
• Declared quarterly common stock cash dividend of $0.22 per share

For earnings history and earnings-related data on Annaly Capital Management (NLY) click here.

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