- Chimera Investment (NYSE:CIM) Q1 core EPS of 57 cents, a penny shy of the average analyst estimate, slips from 58 cents in both Q4 2018 and Q1 2018.
- Chimera slips 0.2% in premarket trading.
- Issuing $200M of series D preferred stock in the quarter, allowed "us to grow our investment portfolio and lower the company's overall cost of capital," said CEO and President Matthew Lambiase.
- Q1 net interest income of $147.4M was almost even with $147.9M in the year-ago quarter; economic net interest income of $151.3M compares with $153.6M in Q4 2018 and $145.4M in Q1 2018.
- Total portfolio net interest margin of 2.4%, with agency portfolio NIM at 1.2% and residential mortgage credit portfolio NIM at 3.4%.
- Average interest-earning assets balance of $25.4B increased from $19.2B a year ago; average interest-bearing liabilities balance at $22.9B vs. $16.6B a year earlier.
- Q1 core earnings/average common equity of 13.61% fell from 13.72% in Q4 and 14.03% in Q1 2018.
- Previously: Chimera Investment misses by $0.01, misses on revenue (May 1)