2023-03-07 16:51:28 ET
- Cherry Hill Mortgage Investment ( NYSE: CHMI ) stock slid 7.7% in Tuesday after-hours trading after its Q4 earnings missed the consensus estimate as net interest income fell during the quarter
- Q4 EPS available for distribution of $0.24, trailing the $0.28 consensus, slipped from $0.26 in Q3.
- Q4 net interest income dropped to $1.37M from $3.33M in the prior quarter.
- Q4 total expenses of $3.18M rose from $3.10M in the prior quarter.
- Common book value per share of $6.06 at Dec. 31, 2022 compared with $6.05 at Sept. 30.
- During the quarter, the company's realized net loss on RMBS, available-for-sale, was $30.7M vs. a loss of $9.74M in the previous quarter. Net realized gain on derivatives was $8.52M vs. $6.21M in Q3.
- "Looking forward, we believe we remain thoughtfully leveraged given the challenging macro environment and will continue to be opportunistic in deploying capital in 2023," CEO Jay Lown said.
- Conference call at 5:00 PM ET.
- Earlier, Cherry Hill Mortgage ( CHMI ) non-GAAP EPS of $0.24 misses by $0.04
For further details see:
Cherry Hill Mortgage Q4 earnings miss as net interest income dropped