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New York Mortgage Trust First Quarter 2024 Earnings: Misses Expectations

New York Mortgage Trust (NASDAQ:NYMT) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$28.7m (down 60% from 1Q 2023).

  • Net loss: US$68.3m (down from US$10.5m profit in 1Q 2023).

  • US$0.75 loss per share (down from US$0.12 profit in 1Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

New York Mortgage Trust Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 21%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is expected to decline by 15% p.a. on average during the next 2 years, while revenues in the Mortgage REITs industry in the US are expected to grow by 31%.

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Performance of the American Mortgage REITs industry.

The company's shares are down 11% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for New York Mortgage Trust that you need to take into consideration.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.