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Ellington Financial, Inc. (EFC) Q1 2025 Earnings Call Transcript
Ellington Financial, Inc. (NYSE:EFC ) Q1 2025 Results Conference Call May 8, 2025 11:00 AM ET Company Participants Alaael-Deen Shilleh - Associate General Counsel & Secretary Larry Penn - CEO Mark Tecotzky - Co-CIO JR Herlihy - CFO Conference Call Participants Crispin Love - Piper Sandler Trevor Cranston - Citizens JMP Randy Binner - B. Riley Operator Good morning, ladies and gentlemen, and thank you for standing by.
Ellington Financial Inc. Reports First Quarter 2025 Results
OLD GREENWICH, Conn.--(BUSINESS WIRE)--Ellington Financial Inc. (NYSE: EFC) ("we") today reported financial results for the quarter ended March 31, 2025. Highlights Net income attributable to common stockholders of $31.6 million, or $0.35 per common share.1 $57.1 million, or $0.63 per common share, from the investment portfolio. $52.9 million, or $0.58 per common share, from the credit strategy. $4.2 million, or $0.05 per common share, from the Agency strategy. $(1.0) million, or $(0.01) per co.
Ellington Financial: Shifting To The Series C Preferred Shares, Yielding 8.6%
Ellington Financial's Series C preferred shares offer a high yield of 8.6% and are the best choice for income investors. Lower interest rates in late 2024 boosted Ellington Financial's net interest income, and further rate cuts in 2025 could enhance profitability by refinancing $4 billion in debt. Risks include potential declines in housing market prices, rising loan delinquencies, and geographic concentration in California and Florida, which could impact earnings.
Ellington Financial Inc. Dividends
 EFC 4 days ago Announced | Monthly | $0.13 Per Share |
| EFC 1 month ago Paid | Monthly | $0.13 Per Share |
| EFC 2 months ago Paid | Monthly | $0.13 Per Share |
| EFC 3 months ago Paid | Monthly | $0.13 Per Share |
| EFC 4 months ago Paid | Monthly | $0.13 Per Share |
Ellington Financial Inc. Earnings
| 5 May 2025 Date | | 0.39 Cons. EPS | 0.39 EPS |
| 24 Feb 2025 Date | | 0.38 Cons. EPS | 0.45 EPS |
| 6 Nov 2024 Date | | 0.36 Cons. EPS | 0.4 EPS |
| 5 Nov 2024 Date | | 0.36 Cons. EPS | - EPS |
| 6 Aug 2024 Date | | 0.35 Cons. EPS | 0.33 EPS |
| EFC 4 days ago Announced | Monthly | $0.13 Per Share |
| EFC 1 month ago Paid | Monthly | $0.13 Per Share |
| EFC 2 months ago Paid | Monthly | $0.13 Per Share |
| EFC 3 months ago Paid | Monthly | $0.13 Per Share |
| EFC 4 months ago Paid | Monthly | $0.13 Per Share |
| 5 May 2025 Date | | 0.39 Cons. EPS | 0.39 EPS |
| 24 Feb 2025 Date | | 0.38 Cons. EPS | 0.45 EPS |
| 6 Nov 2024 Date | | 0.36 Cons. EPS | 0.4 EPS |
| 5 Nov 2024 Date | | 0.36 Cons. EPS | - EPS |
| 6 Aug 2024 Date | | 0.35 Cons. EPS | 0.33 EPS |
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Ellington Financial Inc. Profile
| REIT - Mortgage Industry | Real Estate Sector | Mr. Laurence Eric Penn CEO | XSTU Exchange | US28852N1090 ISIN |
| US Country | 400 Employees | 30 Apr 2025 Last Dividend | - Last Split | - IPO Date |
Overview
Ellington Financial Inc., operating through its subsidiary Ellington Financial Operating Partnership LLC, is a company dedicated to acquiring and managing a diversified array of financial assets across the United States. Specializing in both mortgage-related and consumer-related assets, as well as corporate-related and other financial assets, Ellington Financial has carved a niche in the dynamic financial market. The company is structured as a real estate investment trust (REIT) and adheres to the associated federal income tax provisions, aiming to return at least 90% of its taxable income back to shareholders in the form of dividends. Incorporated in 2007, Ellington Financial LLC has established its headquarters in Old Greenwich, Connecticut, from where it oversees its vast portfolio of investments and services.
Products and Services
Ellington Financial Inc. offers a wide range of financial products and services, catering to various sectors of the financial market. The company's offerings include:
- Residential Mortgage-Backed Securities (RMBS): Ellington Financial acquires and manages RMBS backed by mortgages of different types, including prime jumbo, Alt-A, manufactured housing, and subprime mortgages. These securities encompass both those with principal and interest payments guaranteed by a U.S. government agency or a U.S. government-sponsored entity, and those that are not.
- Residential Mortgage Loans: Apart from RMBS, the company also directly deals with residential mortgage loans, offering an array of services related to the management and acquisition of these assets.
- Commercial Mortgage-Backed Securities and Loans: Ellington expands its portfolio by engaging in the acquisition and management of commercial mortgage-backed securities, alongside offering services related to commercial mortgage loans and other commercial real estate debts.
- Collateralized Loan Obligations (CLOs): The company provides CLOs, which are securities backed by a pool of debt, often corporate loans, enabling investors to receive scheduled debt payments from the underlying loans.
- Mortgage-Related and Non-Mortgage-Related Derivatives: Ellington Financial deals in various derivative products that are either directly related to mortgages or associated with other financial assets, offering diversification and hedging options to investors.
- Corporate Debt and Equity Securities: The company's portfolio also includes corporate debt and equity securities, providing another layer of investment options for its clientele.
- Corporate Loans: Ellington Financial is involved in the management and acquisition of corporate loans, further broadening its versatile offerings in the financial market.
- Consumer Loans and Asset-Backed Securities: The firm also deals with consumer loans and asset-backed securities backed by consumer and commercial assets, contributing to its comprehensive suite of financial products and services.
- Other Strategic Investments: In addition to the primary services listed above, Ellington Financial engages in other strategic investments, actively seeking opportunities across various sectors to maximize returns for its shareholders.
Contact Information
