Atrium Mortgage Investment Corporation
Reports Record Revenue and EPS Despite a Spike in Loan Loss Provisions
Published: 2/16/2024
Author: Sid Rajeev, B.Tech, CFA, MBA
![Reports Record Revenue and EPS Despite a Spike in Loan Loss Provisions - Main Image](/_next/image?url=https%3A%2F%2Ffrc-backend.s3.ca-central-1.amazonaws.com%2Fpictures%2F73feeeb9-f91e-4ad0-a08b-cb197bae1195-new%2520website%2520images%2520%25281%2529.webp&w=1080&q=75)
Sector: Financial Services | Industry: Mortgage Finance
Ticker Symbols:
AI.TO - TSX 🔹
AMIVF - NASDAQ 🔹
Highlights
In 2023, AI reported record revenue (up 26% YoY), beating our estimate by 2% amid higher than expected lending rates. EPS increased 9% YoY, and was exactly in line with our forecast.
Atrium maintains its status as the second largest publicly traded MIC, with a higher percentage of first mortgages, lower average loan-to-value mortgages, and higher yield.