Wed, Jul 24, 8:24 PM (45 days ago)
ARMOUR Residential REIT, Inc.'s Q2 2024 10-Q report highlights a challenging quarter marked by significant losses. The company reported a net loss of $48.35 million for Q2 2024, compared to a net income of $42.96 million in Q2 2023. This shift was driven by realized and unrealized losses on trading securities, with a notable $112.87 million loss on Agency Securities. Interest income slightly decreased to $129.93 million, while interest expenses also fell to $122.96 million, resulting in a net interest income of $6.97 million. Total assets declined from $12.34 billion at the end of 2023 to $10.05 billion. The company’s leverage ratio decreased to 6.09:1 from 7.59:1. ARMOUR continues to face uncertainties related to interest rate fluctuations and market conditions, impacting future operations and financial stability.