ARMOUR Residential REIT, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 26, 2023 at 04:35 pm EDT
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ARMOUR Residential REIT, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net income was USD 42.96 million compared to net loss of USD 58.59 million a year ago. Basic earnings per share from continuing operations was USD 1 compared to basic loss per share from continuing operations of USD 2.9 a year ago. Diluted earnings per share from continuing operations was USD 1 compared to diluted loss per share from continuing operations of USD 2.9 a year ago.
For the six months, net income was USD 11.6 million compared to net loss of USD 125.03 million a year ago. Basic earnings per share from continuing operations was USD 0.15 compared to basic loss per share from continuing operations of USD 6.45 a year ago. Diluted earnings per share from continuing operations was USD 0.15 compared to diluted loss per share from continuing operations of USD 6.45 a year ago.
ARMOUR Residential REIT, Inc. is a real estate investment trust. The Company brings private capital into the mortgage markets to support home ownership for a broad and diverse spectrum of Americans. The Company seeks to create stockholder value through thoughtful investment and risk management of a leveraged and diversified portfolio of mortgage backed securities (MBS). It prioritizes maintaining common share dividends appropriate for the intermediate term rather than focusing on short-term market fluctuations. It invests in MBS, issued or guaranteed by a United States Government-sponsored entity (GSE), such as the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), or a government agency such as Government National Mortgage Administration (Ginnie Mae) (collectively, Agency Securities). Its Agency Securities consist of fixed rate loans. The Company is managed by ARMOUR Capital Management LP, an investment advisor.
ARMOUR RESIDENTIAL REIT, INC. 
