New York based MFA Financial, Inc. (MFA) Thursday reported a profit in the first quarter, as interest income surged reflecting hefty losses on sale of Market Backed Securities, or MBS, and termination of Swaps in the year-ago period. Earnings came in line with Street expectations.
For the first quarter, MFA Financial reported a net income of $51.63 million or $0.23 per share, compared to net loss of $87.98 million or $0.61 per share in the previous year.
On average, nine analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share in the first quarter. Analysts' estimate typically excludes special items.
Net interest income for the quarter increased to $60.63 million from $34.62 million in the same period last year.
Eight analysts expected the company to report revenue of $56.01 million in the first quarter.
Interest expense for the quarter declined to $72.14 million from $93.47 million in the corresponding quarter last year.
Other losses for the quarter were $1.12 million, compared to $116.36 million. In the prior-year quarter, the company's losses included $24.53 million on sale of MBS and $91.48 million on termination of Swaps.
William Gorin, Chief Executive, MFA said, "The current financial environment is driven by exceptionally low short-term interest rates with a Fed Funds target rate range of 0.0% to 0.25%."
MFA is currently trading at $5.95, up $0.07 or 1.19%, on the NYSE.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.