Armour Residential REIT (ARR) delivered earnings and revenue surprises of 18.68% and 75.52%, respectively, for the quarter ended June 2024. Do the numbers hold clues to what lies ahead for the stock?
ARR) on Wednesday reported a second-quarter loss of $48.4 million, after reporting a profit in the same period a year earlier. The Vero Beach, Florida-based company said it had a loss of $1.05 per share. Earnings, adjusted for non-recurring costs, came to $1.08 per share.
VERO BEACH, Florida, July 24, 2024 (GLOBE NEWSWIRE) -- ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR PRC) (“ARMOUR” or the “Company”) today announced the Company's unaudited Q2 results and June 30, 2024 financial position. ARMOUR's Q2 2024 Results GAAP net loss related to common stockholders of $(51.3) million or $(1.05) per common share.Net interest income of $7.0 million.Distributable Earnings available to common stockholders of $52.5 million, which represents $1.08 per common share (see ex