Federal Agricultural Mortgage Corp. (AGM)
NYSE:AGM
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Earnings Data
Report Date
Aug 10, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
4.78Last Year’s EPS
4.32Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational and financial performance: record volumes, revenue and core earnings, robust pipelines across agriculture and infrastructure (notably renewable energy and data-center related broadband), solid capital and liquidity positions, and disciplined credit oversight. Key negatives are manageable but meaningful: quarter-to-quarter spread percentage compression due to mix and seasonality, increases in delinquencies and substandard assets concentrated in parts of agricultural finance, incremental allowances and provisions tied to rapid portfolio growth, and macro risks (higher input costs and geopolitical uncertainty) that could pressure producer margins. On balance, the positives—record growth, diversified momentum across segments, strong capital buffers, and proactive risk management—outweigh the headwinds described.Company Guidance
Record Quarter Results
Delivered an all-time high quarter: outstanding business volume approached $35.0 billion (reported $34.8B), revenue approximately $110 million, and core earnings approximately $52 million ( $4.74 per diluted share). Total revenues increased ~14% year-over-year.
Strong Net New Volume and Pipeline
Generated $1.5 billion in net new business volume in Q1, bringing outstanding volume to a record $34.8B. Farm & ranch approvals for 2026 approached $1.0 billion (≈30% above 2025). Farm & ranch net growth was $777M in Q1, with loan purchase net growth of $384M in the first three months vs $54M in the prior-year period.
Infrastructure Finance Momentum
Infrastructure finance outstanding volume rose $717M sequentially (6%) to $12.6B. Renewable energy grew $445M (18%) to $2.9B. Broadband grew $158M to $1.7B (nearly 70% of growth tied to data-center demand; 87% of new broadband pipeline deals are data-center related). Corporate Ag Finance ended Q1 with >$2.0B outstanding, up ~5% sequentially and ~9% YoY.
Record Net Effective Spread Dollars and ROE
Net effective spread dollars reached a quarterly record of $102 million (an increase of $12M YoY). Quarterly return on equity printed ~17%, a key management focus for capital deployment.
Capital, Liquidity and Funding Strength
Core capital increased by $27M to $1.7B, exceeding statutory requirements by $663M (62%). Tier 1 ratio at 13% and the firm returned $32M via common/preferred dividends and modest repurchases. Opportunistic funding actions included calling ~$500M of callable debt (expected to yield ~ $3M annualized benefit beginning Q2).
Disciplined Credit Framework and Asset Quality Management
Provision for credit losses was modest at $4.3M (reflecting new volume and some migration). Allowance for losses was $40.1M with management noting strong underlying collateral and ongoing portfolio reviews. Charge-offs were relatively small (~$2M) and many remediation actions and reserve releases offset deteriorations.
Operational Execution and Efficiency Trends
Revenue growth outpaced expense growth by nearly four percentage points YoY. Management reiterated a long-run efficiency ratio target of 30% and described active deployment of hedging strategies (e.g., portfolio layer method) to manage interest rate risk and enhance economics over time.
Tax Credit Monetization Benefit
Recognized a $4.2M income tax benefit from purchase of $45M in renewable energy investment tax credits; approximately $30M of carryback capacity remains and is expected to be largely utilized in Q2.
AGM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
AGM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 05, 2026 | $171.28 | $178.90 | +4.45% |
Feb 19, 2026 | $172.20 | $147.88 | -14.12% |
Nov 03, 2025 | $155.14 | $162.38 | +4.67% |
Aug 07, 2025 | $167.50 | $172.99 | +3.28% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Federal Agricultural Mortgage Corp. (AGM) report earnings?
Federal Agricultural Mortgage Corp. (AGM) is schdueled to report earning on Aug 10, 2026, Before Open (Confirmed).
What is Federal Agricultural Mortgage Corp. (AGM) earnings time?
Federal Agricultural Mortgage Corp. (AGM) earnings time is at Aug 10, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AGM EPS forecast?
AGM EPS forecast for the fiscal quarter 2026 (Q2) is 4.78.