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Dynex Capital (DX)
NYSE:DX
Earnings Data
Report Date
Apr 23, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.33Last Year’s EPS
-0.3Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 27, 2025
|% Change Since: 11.32%
|Next Earnings Date:Apr 23, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a largely positive outlook with strong shareholder returns, increased capital, and effective management of the interest rate environment. However, there were concerns about book value, market volatility, and potential policy changes that could introduce risks.Company Guidance
During the Dynex Capital Fourth Quarter and Full Year 2024 Results Conference Call, the company provided several key financial metrics and strategic insights. For 2024, Dynex achieved a 7% total economic return and a 13.7% total shareholder return, positioning itself as a leading agency-focused mortgage REIT in terms of shareholder returns over one, three, and five-year periods. The company's common equity capital grew over 40% year-over-year, exceeding $1 billion, which significantly improved its scale and reduced its expense ratio by 70 basis points. The book value at the end of the fourth quarter was $12.70 per share, with a 1% economic return for the quarter. Dynex's leverage increased, with a capital raise of $64 million in the fourth quarter, contributing to a full-year common capital growth of $332 million. The company strategically shifted its hedge portfolio from futures to swaps, enhancing its portfolio yield and maintaining robust liquidity to capitalize on market opportunities. Looking forward, Dynex anticipates a favorable investment environment, focusing on agency RMBS with spreads ranging from 135 to 140 basis points over seven-year treasuries and 175 to 185 over swaps.Strong Shareholder Returns
Dynex generated the leading total shareholder return among agency-focused mortgage REITs for one, three, and five years inclusive of the dividend. The total economic return was 7% and total shareholder return was 13.7% for the year.
Increased Common Equity Capital
Dynex grew its common equity capital to over $1 billion, reflecting a year-over-year growth of over 40%.
Interest Rate Environment Improvements
The Fed's interest rate cuts in the second half of 2024 provided a tailwind for the portfolio. The company leveraged this by adding higher-yielding assets and improving the net interest spread.
Improved Expense Management
Dynex drove its expense ratio down by 70 basis points year over year, keeping non-compensation expenses essentially flat while executing strategic initiatives.
Appointment of New Chief Investment Officer
T.J. Connelly was appointed as Chief Investment Officer, bringing a fresh perspective and continuing to enhance investment strategies.
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DX 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
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DX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 27, 2025 | $12.63 | $12.78 | +1.19% |
| Oct 21, 2024 | $12.06 | $11.98 | -0.66% |
| Jul 22, 2024 | $11.41 | $11.52 | +0.96% |
| Apr 22, 2024 | $10.49 | $10.38 | -1.05% |
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.
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FAQ
When does Dynex Capital (DX) report earnings?
Dynex Capital (DX) is schdueled to report earning on Apr 23, 2025, TBA Not Confirmed.
What is Dynex Capital (DX) earnings time?
Dynex Capital (DX) earnings time is at Apr 23, 2025, TBA Not 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 DX EPS forecast?
DX EPS forecast for the fiscal quarter 2025 (Q1) is 0.33.
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