Ellington Credit (EARN) Quarterly Income Statement

Income Statement Summary

Ellington Credit (EARN) quarterly income statement covering the six quarters from December 2023 to March 2025, as reported to the SEC.

Net income was -$7.87M in the quarter ended March 31, 2025, after a profit of $3.96M a year earlier.
Diluted earnings per share was -$0.23, after a profit of $0.20 a year earlier.
Total expenses were $2.58M, up 58.7% from $1.63M.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Mar'25	Dec'24	Sep'24	Jun'24	Mar'24	Dec'23
INTEREST INCOME (EXPENSE)
Interest income
15,462	12,848	12,504	14,132	10,379	11,888	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income						15,462	12,848	12,504	14,132	10,379	11,888	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense
6,215	6,707	7,752	10,235	10,100	11,511	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense						6,215	6,707	7,752	10,235	10,100	11,511	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total net interest income (expense)
9,247	6,141	4,752	3,897	279	377	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total net interest income (expense)						9,247	6,141	4,752	3,897	279	377	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
EXPENSES
Management fees to affiliate
900	700	700	600	500	600	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Management fees to affiliate						900	700	700	600	500	600	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total interest income
15,462	12,848	12,504	14,132	10,379	11,888	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total interest income						15,462	12,848	12,504	14,132	10,379	11,888	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Management fees
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Management fees						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Professional fees
603	417	661	690	339	193	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Professional fees						603	417	661	690	339	193	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Compensation expense
427	353	501	431	270	190	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Compensation expense						427	353	501	431	270	190	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Insurance expense
93	90	93	93	94	93	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Insurance expense						93	90	93	93	94	93	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Organizational Expenses
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Organizational Expenses						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other operating expenses
599	678	749	400	386	386	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other operating expenses						599	678	749	400	386	386	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total expenses
2,582	2,268	2,725	2,164	1,627	1,374	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total expenses						2,582	2,268	2,725	2,164	1,627	1,374	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
OTHER INCOME (LOSS)
Net realized gains (losses) on securities
377	1,117	-1,377	-7,985	-9,823	-11,825	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net realized gains (losses) on securities						377	1,117	-1,377	-7,985	-9,823	-11,825	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net realized gains (losses) on financial derivatives
17,594	4,578	23,885	6,565	3,459	1,440	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net realized gains (losses) on financial derivatives						17,594	4,578	23,885	6,565	3,459	1,440	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net realized gains (losses) on mortgage-backed securities
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net realized gains (losses) on mortgage-backed securities						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net realized gains (losses) on financial derivatives
17,594	4,578	23,885	6,565	3,459	1,440	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net realized gains (losses) on financial derivatives						17,594	4,578	23,885	6,565	3,459	1,440	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in net unrealized gains (losses) on securities
-8,026	-19,361	16,057	1,180	1,760	50,930	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in net unrealized gains (losses) on securities						-8,026	-19,361	16,057	1,180	1,760	50,930	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net realized gains (losses) on financial derivatives
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net realized gains (losses) on financial derivatives						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in net unrealized gains (losses) on securities
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in net unrealized gains (losses) on securities						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in net unrealized gains (losses) on financial derivatives
-25,514	8,846	-35,274	-2,367	10,216	-27,109	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in net unrealized gains (losses) on financial derivatives						-25,514	8,846	-35,274	-2,367	10,216	-27,109	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Noninterest Income, Other Operating Income
1,028	-1,239	590	-16	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Noninterest Income, Other Operating Income						1,028	-1,239	590	-16	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other income (loss)
-14,541	-6,059	3,881	-2,623	5,612	13,436	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other income (loss)						-14,541	-6,059	3,881	-2,623	5,612	13,436	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest
-7,876	-2,186	5,908	-890	4,264	12,439	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest						-7,876	-2,186	5,908	-890	4,264	12,439	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income Tax Expense (Benefit)
-6	-190	500	-100	300	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income Tax Expense (Benefit)						-6	-190	500	-100	300	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other income (loss)
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other income (loss)						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET INCOME (LOSS)
-7,870	-2,005	5,445	-815	3,961	12,439	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET INCOME (LOSS)						-7,870	-2,005	5,445	-815	3,961	12,439	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
NET INCOME (LOSS) PER COMMON SHARE:
Basic and Diluted (in dollars per share)
-0.23	-0.09	0.21	-0.04	0.20	0.80	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic and Diluted (in dollars per share)						-0.23	-0.09	0.21	-0.04	0.20	0.80	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Dividends declared (in dollars per share)
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Dividends declared (in dollars per share)						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx