Farmer Mac: Q1 Earnings Snapshot
Federal Agricultural Mortgage Corp. (AGM) on Tuesday reported first-quarter profit of $47 million
By AP News
Published - May 09, 2023, 05:12 PM ET
Last Updated - Apr 05, 2024, 03:03 PM EDT
WASHINGTON (AP) — WASHINGTON (AP) — Federal Agricultural Mortgage Corp. (AGM) on Tuesday reported first-quarter profit of $47 million.
The Washington-based company said it had profit of $3.69 per share. Earnings, adjusted for non-recurring gains, were $3.56 per share.
The rural real estate lender posted revenue of $320.6 million in the period. Its adjusted revenue was $84.4 million.
Farmer Mac shares have risen 15% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $129.67, a climb of 24% in the last 12 months.
