Bimini Capital Management (OTC: BMNM) Stock Surges 15% After Q4 Earnings
As the earnings season continues, there will be a number of companies that will come into focus from time to time, and this morning, Bimini Capital Management (OTC: BMNM) could be one of those. Yesterday, the company came into the news cycle after it announced its financial results for the fourth fiscal quarter.
The Performance
In the quarter ended on December 31, 2024, Bimini Capital Management suffered a net loss of $1.5 million, which worked out to a loss per share of $0.15. The book value per share at the end of the quarter stood at $0.68. In the news release, the company went on to state that the financial results would be discussed this morning at 10 am Eastern Time. The company went on to note yesterday that there had been a pivot in the fixed income market in the early period of the fourth quarter.
Further Information
Once the fourth quarter came along, there was a drop in inflation, and it was near to the target of 2% set by the United States Federal Reserve. As a consequence, there was a reduction in the Fed Funds rate. However, there was an expectation of greater cuts, and that had an effect on the company’s performance.
Management Commentary
Commenting on the fourth quarter results, Robert E. Cauley, Chairman and Chief Executive Officer, said, “The outlook for the fixed income market pivoted early in the fourth quarter of 2024. As the third quarter came to an end, inflation was falling towards the Fed’s 2% target, the labor market was cooling as hiring levels moderated and the unemployment rate was slowly creeping higher, and the Fed had finally lowered the Fed Funds rate by 50 basis points.
