Federal Agricultural Mortgage Corp. (AGM) released earnings for first quarter that decreased from last year but beat the Street estimates.
The company's bottom line totaled $43.98 million, or $4.01 per share. This compares with $46.95 million, or $4.28 per share, last year.
Excluding items, Federal Agricultural Mortgage Corp. reported adjusted earnings of $45.96 million or $4.19 per share for the period.
Analysts on average had expected the company to earn $4.06 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 3.8% to $381.41 million from $396.31 million last year.
Federal Agricultural Mortgage Corp. earnings at a glance (GAAP) :
-Earnings: $43.98 Mln. vs. $46.95 Mln. last year.
-EPS: $4.01 vs. $4.28 last year.
-Revenue: $381.41 Mln vs. $396.31 Mln last year.
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