By Sabela Ojea
Dynex Capital reported a loss in the latest quarter, citing a shift in the external operational environment.
The Glen Allen, Va., financial-services company on Monday posted a first-quarter net loss of $3.1 million, or 6 cents a share, compared with a profit of $40.1 million, or 64 cents a share, a year earlier. Analysts polled by FactSet had forecast earnings of 30 cents a share.
Net interest income rose sequentially to $17.1 million, compared with $6.9 million in fourth quarter.
"Over the past several quarters, we have deliberately positioned ourselves for a more dynamic macroeconomic environment," Co-Chief Executive Byron Boston said, and Co-CEO Smriti Popenoe added that the company remained agile despite the challenging environment.
The company raised $240 million in equity capital and ended the period with liquidity of $790 million, Dynex said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
April 21, 2025 08:32 ET (12:32 GMT)
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