Federal Agricultural

Federal Agricultural Mortgage Corp. is a stockholder-owned, federally chartered corporation. engages in the provision of a secondary market for agricultural real estate and rural housing mortgage loans, rural utilities loans, and loans guaranteed by the United States Department of Agriculture. It combines private capital and public sponsorship to serve a public purpose. The firm operates through the following segments: Farm & Ranch, Corporate AgFinance, Rural Utilities, Renewable Energy, Funding, Investments, and Corporate. The company was founded in 1987 and is headquartered in Washington, DC.

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Farmer Mac reports record earnings, eyes renewable energy growth

Farmer Mac had a strong year in 2022, achieving record revenue and earnings, supported by strategic initiatives and disciplined asset management.
While facing challenges such as rising operating expenses, the company maintained a strong credit profile and increased shareholder value through dividend growth.
Opportunities lie in expanding the renewable energy lending portfolio, adding to the employee base, and further penetrating the market with securitization offerings.

Farmer Mac reports record Q1 earnings, eyes diversification opportunities

Farmer Mac's Q1 2023 earnings call showcased robust financial performance, strategic initiatives, and resilience in the face of economic headwinds. Despite challenges in operating expenses and flat Agricultural Finance volume, the company remains well-positioned for growth and continued shareholder value creation.

Farmer Mac reports record Q2 earnings, eyes renewable energy growth

Farmer Mac reported strong Q2 results with record core earnings and business volume, showcasing operational excellence and growth potential. The company's focus on renewable energy projects and strategic initiatives position it for future success.
While facing challenges in cost management, market sensitivity, and recruitment, Farmer Mac's proactive approach to technology upgrades and portfolio monitoring mitigates risks. Opportunities in renewable energy financing, securitization, and market positioning offer avenues for sustained growth and value creation.
Overall, Farmer Mac's performance highlights financial strength, operational resilience, and strategic foresight. The company's commitment to American agriculture, shareholder value, and market opportunities underpin its position as a key player in the agricultural finance sector.

Farmer Mac reports record earnings and eyes renewable energy growth

Farmer Mac delivered strong financial performance in Q3, marked by record earnings and robust business volume growth. The company's strategic management of funding sources and credit profile strength position it well for future opportunities.
While facing challenges such as higher operating expenses and interest rates, Farmer Mac's focus on innovation and growth initiatives presents avenues for continued success. Opportunities in renewable energy and wholesale financing further enhance the company's growth prospects.
Overall, Farmer Mac remains optimistic about the future, supported by solid market conditions and a positive outlook for 2024. The company's emphasis on disciplined execution and revenue generation underscores its commitment to sustainable growth.

Farmer Mac reports robust 2023 performance, eyes growth opportunities

Farmer Mac had a successful year in 2023 with double-digit earnings growth, record net effective spread, and substantial business volume growth. The company demonstrated strong financial performance, maintained credit quality, and exceeded regulatory capital requirements. Despite challenges such as operating expenses and potential prepayment risks, Farmer Mac remains optimistic about its future outlook and is focused on innovation and efficiency.
The company's strengths lie in its financial performance, dividend growth, strong credit profile, and strategic investments in technology and infrastructure. Opportunities for growth include continued Farm securitization, enhanced loan purchase activity, and expansion in renewable loans. Challenges include managing operating expenses, prepayment risks, and potential declines in farm income and land values.

Farmer Mac reports robust earnings growth amidst market challenges

Overall, Farmer Mac demonstrated solid financial performance and resilience in Q1 2024.
While facing challenges from rising expenses and market interest rates, the company maintained strong fundamentals.
Strategic focus on capital strength, liquidity, and growth opportunities positions Farmer Mac well for the future.

Farmer Mac reports robust Q2 results, eyes renewable energy growth

Farmer Mac's Q2 performance showcased growth in new business, revenue, and core earnings, despite challenges with credit expenses. The company's strong capital base, efficient expense management, and focus on renewable energy present promising opportunities for future growth.

Federal Agricultural excels in Q3, eyes market transformation opportunities

Federal Agricultural's Q3 2024 earnings call highlighted strong financial performance, operational efficiency improvements, and strategic investments in core infrastructure. Despite potential challenges from market uncertainties, the company's focus on growth in new segments and innovative products positions it well for the future.

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Federal Agricultural Mortgage Corp. is a stockholder-owned, federally chartered corporation, which engages in the provision of a secondary market for agricultural real estate and rural housing mortgage loans, rural utilities loans, and loans guaranteed by the United States Department of Agriculture. It combines private capital and public sponsorship to serve a public purpose. The firm operates through the following segments: Farm & Ranch, Corporate AgFinance, Rural Utilities, Renewable Energy, Funding, Investments, and Corporate. The company was founded in 1987 and is headquartered in Washington, DC.

WASHINGTON , Nov. 6, 2024 /PRNewswire/ -- The board of directors of the Federal Agricultural Mortgage Corporation (Farmer Mac) has declared a fourth quarter dividend of $1.40 per share for each of Farmer Mac's three classes of common stock – Class A Voting Common Stock (NYSE: AGM.A), Class B Voting Common Stock (not listed on any exchange), and Class C Non-Voting Common Stock (NYSE: AGM).  The quarterly dividend will be payable on December 31, 2024 to holders of record of common stock as of December 16, 2024.

Farmer Mac Declares Quarterly Dividends on Common and Preferred Stock

Federal Agricultural Mortgage Corporation (NYSE:AGM ) Q3 2024 Earnings Conference Call November 4, 2024 4:30 PM ET Company Participants Jalpa Nazareth - Senior Director, IR & Finance Strategy Bradford Nordholm - President & CEO Aparna Ramesh - EVP, CFO & Treasurer Zachary Carpenter - EVP, Chief Business Officer Conference Call Participants Bose George - KBW William Ryan - Seaport Research Partners Brendan McCarthy - Sidoti Operator Good afternoon, ladies and gentlemen, and welcome to the Farmer Mac's Third Quarter 2024 Earnings Conference Call. At this time, all lines are in listen-only mode.

Federal Agricultural Mortgage Corporation (AGM) Q3 2024 Earnings Call Transcript

Federal Agricultural Mortgage (AGM) came out with quarterly earnings of $4.10 per share, missing the Zacks Consensus Estimate of $4.14 per share. This compares to earnings of $4.13 per share a year ago.

Federal Agricultural Mortgage (AGM) Q3 Earnings and Revenues Miss Estimates

Federal Agricultural Mortgage Corp

- Outstanding Business Volume of $28.5 Billion - WASHINGTON , Nov. 4, 2024 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the accessibility of financing for American agriculture and rural infrastructure, today announced its results for the fiscal quarter ended September 30, 2024. "Farmer Mac delivered another solid quarter, demonstrating yet again the benefits of our successful efforts to continue to diversify our revenue streams, taking advantage of our strong capital base and uninterrupted access to low-cost capital," said President and Chief Executive Officer, Brad Nordholm.

Farmer Mac Reports Third Quarter 2024 Results

WASHINGTON , Oct. 21, 2024 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the accessibility of financing for American agriculture and rural infrastructure, today announced that it will release its financial results for the fiscal quarter ended September 30, 2024, on Monday, November 4, 2024, before the opening of equity markets. A conference call to discuss the results will be held that day at 4:30 p.m.

Farmer Mac to Announce Third Quarter 2024 Financial Results

Despite negative EPS revisions and near-term declines in momentum, Farmer Mac has maintained impressive growth and profitability metrics. My fair value estimates suggest the stock is undervalued by 20%-40%, with potential upside driven by favorable macroeconomic trends and government policies. A solid dividend track record with a double-digit CAGR over the past five years makes it a compelling option for dividend growth investors.

Farmer Mac: All Models Point To Undervaluation

Federal Agricultural Mortgage Corporation (NYSE:AGM ) Q2 2024 Earnings Conference Call August 5, 2024 4:30 PM ET Company Participants Jalpa Nazareth - Senior Director, IR and Finance Strategy Bradford Nordholm - President and CEO Aparna Ramesh - EVP, CFO and Treasurer Zachary Carpenter - EVP, Chief Business Officer Marc Crady - SVP, Chief Credit Officer Conference Call Participants Bose George - KBW William Ryan - Seaport Research Partners Brendan McCarthy - Sidoti Operator Good afternoon ladies and gentlemen, and welcome to the Farmer Mac Second Quarter 2024 Earnings Conference Call. At this time, all lines are in listen-only mode.

Federal Agricultural Mortgage Corporation (AGM) Q2 2024 Earnings Call Transcript

Federal Agricultural Mortgage (AGM) came out with quarterly earnings of $3.63 per share, missing the Zacks Consensus Estimate of $4.09 per share. This compares to earnings of $3.86 per share a year ago.

Federal Agricultural Mortgage (AGM) Q2 Earnings and Revenues Miss Estimates

- Outstanding Business Volume of $28.8 Billion - WASHINGTON , Aug. 5, 2024 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the accessibility of financing for American agriculture and rural infrastructure, today announced its results for the fiscal quarter ended June 30, 2024. "We are pleased to deliver another strong earnings quarter, driven by our successful efforts over the last few years to grow and diversify our revenue streams, while maintaining disciplined asset liability management and a strong capital base," said President and Chief Executive Officer, Brad Nordholm.

Farmer Mac Reports Second Quarter 2024 Results

WASHINGTON , July 22, 2024 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the accessibility of financing for American agriculture and rural infrastructure, today announced that it will release its financial results for the fiscal quarter ended June 30, 2024, on Monday, August 5, 2024, after the closing of equity markets. A conference call to discuss the results will be held that day at 4:30 p.m.

Farmer Mac to Announce Second Quarter 2024 Financial Results

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WASHINGTON , June 21, 2024 /PRNewswire/ -- Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the accessibility of financing for American agriculture and rural infrastructure, today announced that it has been recognized by The Washington Post with a 2024 Top Workplaces award for the greater Washington area. This respected employer recognition program celebrates organizations that have built exceptional workplace cultures.

Farmer Mac Wins Washington Post Top Workplaces Award

WASHINGTON , June 17, 2024 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.PRC) has announced that it intends to provide notice to the holders of its 6.000% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C (the "Series C Preferred Stock") of the redemption of all of its outstanding 3,000,000 shares of Series C Preferred Stock. Farmer Mac will redeem the Series C Preferred Stock for a redemption price of $25.00 per share, plus any declared and unpaid dividends through and including the redemption date.

Farmer Mac to Redeem Outstanding Series C Preferred Stock

Federal Agricultural Mortgage stock has increased by 117% since 2019, with earnings up 90%. The company has demonstrated outstanding performance in managing credit risk, interest rate risk, and leverage risk. Farmer Mac has a strong competitive advantage as a government-sponsored enterprise, with a moat that provides lower debt costs than even the best peers.

Federal Agricultural Mortgage: Stable Earnings Stream With Above-Average Growth Prospects

WASHINGTON, May 15, 2024 /PRNewswire/ -- The board of directors of the Federal Agricultural Mortgage Corporation (Farmer Mac) has declared a second quarter dividend of $1.40 per share for each of Farmer Mac's three classes of common stock – Class A Voting Common Stock (NYSE: AGM.A), Class B Voting Common Stock (not listed on any exchange), and Class C Non-Voting Common Stock (NYSE: AGM). The quarterly dividend will be payable on June 28, 2024, to holders of record of common stock as of June 14, 2024.

Farmer Mac Declares Quarterly Dividends, Announces Intent to Redeem Series C Preferred Stock

Federal Agricultural Mortgage Corporation (NYSE:AGM ) Q1 2024 Earnings Conference Call May 6, 2024 8:30 AM ET Company Participants Jalpa Nazareth - Senior Director, Investor Relations and Finance Strategy Bradford Nordholm - President and Chief Executive Officer Aparna Ramesh - Executive Vice President, Chief Financial Officer and Treasurer Zachary Carpenter - Executive Vice President, Chief Business Officer Conference Call Participants Bose George - KBW William Ryan - Seaport Research Partners Brendan McCarthy - Sidoti Operator Good morning, ladies and gentlemen, and welcome to the Farmer Mac First Quarter 2024 Earnings Conference Call. At this time all lines are in a listen-only mode.

Federal Agricultural Mortgage Corporation (AGM) Q1 2024 Earnings Call Transcript

Federal Agricultural Mortgage (AGM) came out with quarterly earnings of $3.96 per share, beating the Zacks Consensus Estimate of $3.94 per share. This compares to earnings of $3.56 per share a year ago.

Federal Agricultural Mortgage (AGM) Q1 Earnings and Revenues Beat Estimates

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WASHINGTON , April 22, 2024 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the accessibility of financing for American agriculture and rural infrastructure, today announced that it will release its financial results for the fiscal quarter ended March 31, 2024, on Monday, May 6, 2024, before the opening of equity markets. A conference call to discuss the results will be held that day at 8:30 a.m.

Farmer Mac to Announce First Quarter 2024 Financial Results

Federal Agricultural Mortgage Corporation has seen a 17% return since initial coverage, surpassing the S&P 500's return. AGM recently raised its dividend by 27%. Over the last decade, the dividend has increased at a CAGR in the double digits. AGM operates in agricultural financing and rural infrastructure finance. Both of these segments saw YoY growth to fuel earnings.

Farmer Mac: Ultra Safe Dividend Growth With Double Digit Upside Potential

WASHINGTON , April 2, 2024 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the accessibility of financing for American agriculture and rural infrastructure, announced today that it has completed a $308.1 million securitization of agricultural mortgage loans. This is Farmer Mac's fourth transaction in the FARM series since 2021.

Farmer Mac Closes $308.1 Million Securitization of Agricultural Mortgage-Backed Securities (AMBS)

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The Zacks Mortgage & Related Services industry players benefit from expected rate cuts, low competition from banks and strong servicing business. PennyMac Financial Services (PFSI), Federal Agricultural Mortgage (AGM) and Ocwen Financial (OCN) look well-placed for growth.

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Dairy farmers work hard to maintain predictable schedules for their cows, ensuring they have consistent feeding and milking times. Farming REITs, such as Gladstone Land and Farmland Partners, provide financial support to farmers and offer reliable dividend payments. Federal Agricultural Mortgage Corporation offers potential growth opportunities in the agricultural mortgage market, particularly in renewable power generation and rural infrastructure.

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