$AOMR reports Q4 net income of $188M and dividend of $0.32.
Mar 9th 2023, 9:14 pm
Analyst Summary: Angel Oak Mortgage, Inc. has reported its Q4 and full year 2022 financial results, including a net income of $188 million ($0.65 per diluted share of common stock) and distributable earnings of $177 million ($0.61 per diluted share of common stock) for the full year. The company also announced a dividend of $0.32 per share of common stock payable on March 31, 2023, to shareholders of record as of March 22, 2023. The CEO of Angel Oak Mortgage, Inc. commented on the positive momentum gained in Q4 and how this has carried into 2023. He added that the company had made significant progress against its strategic plan, aiming to reposition its portfolio, improve liquidity, and reduce risk, demonstrated through loan sales and non-mark-to-market financing conversion, as well as the AOMT 2023-1 securitization in January 2023. The company is also planning to methodically execute securitizations throughout 2023 and resume purchases of newly originated, higher-coupon loans to grow the earning potential of its portfolio. Meanwhile, the company's equity ratio was 2.9x as of December 31, 2022. Forward-looking statements in the release warn that actual results and performance could differ materially from the information presented due to uncertainties such as volatility in the market and potential risks. However, the company aims to generate attractive risk-adjusted returns for its shareholders through cash distributions and capital appreciation across interest rate and credit cycles.