Angel Oak Mortgage REIT Inc (FRA:57V)

Q1 2025 Angel Oak Mortgage REIT Inc Earnings Call Transcript

May 05, 2025 / 12:30PM GMT

Release Date Price: €8.25

Transcript 10-Q8-K

Key Points

Positve

Angel Oak Mortgage REIT Inc (AOMR) reported an 18% growth in net interest income compared to the first quarter of 2024.
Operating expenses, excluding certain costs, decreased by 29% compared to the first quarter of 2024.
The company completed the AOMT 2025-4 securitization, which freed up capital for new loan purchases and reduced repurchase debt.
GAAP book value increased by 5.2% from the end of 2024, driven by unrealized gains and portfolio earnings growth.
The company declared a $0.32 per share common dividend, maintaining shareholder returns.

Negative

The company did not execute a securitization in the first quarter, which may impact immediate capital availability.
Interest rate spreads have widened due to international trade uncertainties, potentially affecting future earnings.
The percentage of loans 90-plus days delinquent increased by 35 basis points from the first quarter of 2024.
Prepayment speeds for RMBS and securitized loan portfolios decreased, which could impact future cash flows.
The securitization market experienced volatility, affecting execution levels and potentially impacting yields.

Operator

Good day, and welcome to the Angel Oak Mortgage REIT first-quarter 2025 earnings conference call. (Operator Instructions)

Please note this event has been recorded.

I would now like to turn the conference over to Mr. KC Kelleher. Please go ahead.

KC Kelleher

Angel Oak Mortgage REIT Inc - Head of Corporate Finance and Investor Relations

Good morning. Thank you for joining us today for Angel Oak Mortgage REIT's first-quarter 2025 earnings conference call. This morning, we filed our press release detailing these results, which is available in the Investors section on our website at www.angeloakreit.com.

As a reminder, remarks made on today's conference call may include forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those discussed today. We do not undertake any obligation to update our forward-looking statements in light of new information or future events. For a

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