Ellington Financial (EFC) Tops Q1 EPS by 5c

Ellington Financial (NYSE: EFC) reported Q1 EPS of $0.43, $0.05 better than the analyst estimate of $0.38.

• Net income of $37.9 million, or $0.86 per common share.
• Core Earnings1 of $18.8 million, or $0.43 per share.
• Book value per common share as of March 31, 2021 of $18.16, including the effects of dividends of $0.30 per common share for the quarter.
• Credit strategy gross income of $50.7 million for the quarter, or $1.14 per share.
• Agency strategy gross income of $40 thousand for the quarter.
• Dividend yield of 9.4% based on the May 4, 2021 closing stock price of $17.80 per share, and dividend of $0.14 per common share declared on April 4, 2021, which was an increase of 40% compared to the previous dividend amount.
• Debt-to-equity ratio of 3.1:1 and recourse debt-to-equity ratio of 2.0:12 as of March 31, 2021. Adjusted for unsettled purchases and sales, these ratios were 3.2:1 and 2.0:1, respectively as of March 31, 2021.
• Cash and cash equivalents of $149.4 million as of March 31, 2021, in addition to other unencumbered assets of $467.3 million.

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

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