Ellington Credit Company reported strong financial performance with significant NAV growth and a well-executed expansion of the CLO portfolio. However, challenges such as European CLO underperformance and market volatility due to tariff announcements indicate a mixed environment. Despite these challenges, the company's active trading strategy and future plans for debt issuance suggest continued growth potential.

Company Guidance -

Q3 2025

During the call, Ellington Credit Company provided guidance for the fiscal quarter ended June 30, 2025, highlighting a strong annualized economic return of nearly 20% net, with growth in net asset value (NAV) per share. The company's CLO portfolio expanded by 27% to $317 million, driven by strategic redeployment of capital and strong performance in CLO equity and mezzanine investments. The weighted-average GAAP yield on their CLO portfolio was reported at 15.6%, with adjusted net investment income recorded at $0.18 per share. The company aims to fully cover its monthly distribution of $0.08 starting in September, and plans to increase its CLO portfolio to approximately $400 million. Ellington also highlighted the potential issuance of long-term unsecured debt to enhance earnings growth. As of June 30, the NAV was $6.12 per share, with cash and cash equivalents totaling $36.6 million, and a NAV-based total return of 19.7% annualized.

Strong Economic Return and NAV Growth

Ellington Credit Company generated an annualized economic return of nearly 20% net and grew NAV per share. This was driven by excellent performance across CLO equity and mezzanine investments, as well as the timely redeployment of capital following the April sale of legacy mortgage-related holdings.

CLO Portfolio Expansion

The CLO portfolio grew by 27% quarter-over-quarter to $317 million. New purchases amounted to $91 million, primarily in CLO debt. The company successfully completed the disposition of remaining mortgage-related investments with minimal NAV impact.

Projected Coverage of Monthly Distribution

At the current rate of deployment, the company projects that starting in September, the monthly net investment income will cover the $0.08 monthly distribution, indicating a close to fully invested position.

Active Trading and Opportunistic Gains

The company benefited from active trading during market volatility, leading to significant net realized and unrealized gains on U.S. debt and equity. This included the redemption at par of mezzanine positions bought at discounts and a beneficial reset of a CLO equity position.

Plans for Long-term Debt Issuance

Ellington Credit Company plans to issue long-term unsecured debt later this year, which is expected to be accretive to both GAAP earnings and net investment income, further expanding the CLO portfolio.

Ellington Residential Mortgage (EARN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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EARN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 06, 2025	2025 (Q3)	0.23 / -	0.28	―	―	―
Aug 19, 2025	2025 (Q2)	0.24 / 0.18	0.36	-50.00% (-0.18)
May 20, 2025	2025 (Q1)	0.27 / 0.26	0.27	-3.70% (-0.01)
Mar 12, 2025	2024 (Q4)	0.30 / 0.27	0.27	0.00% (0.00)
Nov 13, 2024	2024 (Q3)	0.31 / 0.28	0.21	33.33% (+0.07)
Aug 12, 2024	2024 (Q2)	0.28 / 0.36	0.17	111.76% (+0.19)
May 14, 2024	2024 (Q1)	0.25 / 0.27	0.21	28.57% (+0.06)
Mar 06, 2024	2023 (Q4)	0.23 / 0.27	0.25	8.00% (+0.02)
Nov 13, 2023	2023 (Q3)	0.24 / 0.21	0.23	-8.70% (-0.02)
Aug 10, 2023	2023 (Q2)	0.22 / 0.17	0.28	-39.29% (-0.11)

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

EARN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 19, 2025	$5.61	$5.75	+2.50%
May 20, 2025	$5.36	$5.25	-2.05%
Mar 12, 2025	$5.70	$5.50	-3.51%
Nov 13, 2024	$5.77	$5.66	-1.91%

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 Ellington Residential Mortgage (EARN) report earnings?

Ellington Residential Mortgage (EARN) is schdueled to report earning on Nov 06, 2025, After Close (Confirmed).

What is Ellington Residential Mortgage (EARN) earnings time?

Ellington Residential Mortgage (EARN) earnings time is at Nov 06, 2025, After Close (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 EARN EPS forecast?

EARN EPS forecast for the fiscal quarter 2025 (Q3) is 0.23.

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