Core Viewpoint - Orchid Island Capital, Inc. will release its fourth quarter 2024 results on January 30, 2025, after market close [1] Earnings Conference Call Details - An earnings conference call will take place on January 31, 2025, at 10:00 AM ET, with registration available online [2] - A live audio webcast of the conference call can be accessed through the company's investor relations website [3] Company Overview - Orchid Island Capital, Inc. is a specialty finance company that invests in Agency RMBS on a leveraged basis, focusing on traditional pass-through Agency RMBS and structured Agency RMBS [4]

Core Points - Orchid Island Capital, Inc. declared a monthly cash dividend of $0.12 per share for January 2025, payable on February 27, 2025, to shareholders of record as of January 31, 2025, with an ex-dividend date of January 31, 2025 [1] - The company aims to make regular monthly cash distributions to its common stockholders and must distribute at least 90% of its REIT taxable income annually to qualify as a real estate investment trust (REIT) [2] - As of January 8, 2025, the company had 84,613,638 shares of common stock outstanding, an increase from 82,622,464 shares as of December 31, 2024 [3] Financial Metrics - The estimated book value per share as of December 31, 2024, was $8.09, calculated by dividing total stockholders' equity of approximately $668.5 million by the total number of outstanding shares [4] - The estimated net income per share for the quarter ended December 31, 2024, was $0.07, which includes an estimated $0.02 per share of net realized and unrealized gains on RMBS and derivative instruments [5] - The estimated total return on equity for the quarter ended December 31, 2024, was 0.6%, calculated as the sum of dividends declared and changes in book value divided by the stockholders' equity at the beginning of the quarter [6] RMBS Portfolio - The company invests in Agency RMBS, focusing on traditional pass-through Agency RMBS and structured Agency RMBS [7] - As of December 31, 2024, the total mortgage assets amounted to $5,303,052 thousand, with Fannie Mae accounting for 70.6% and Freddie Mac for 29.4% of the portfolio [15][16] - The company has a significant amount of borrowings, totaling $5,025,543 thousand, with a weighted average interest rate of 4.66% [17]

Dividend Announcement - The company declared a monthly cash dividend of $0.12 per share for January 2025, payable on February 27, 2025, to shareholders of record as of January 31, 2025 [1] - The next common stock dividend announcement is planned for February 12, 2025 [1] - The company intends to make regular monthly cash distributions to common stockholders, as required to maintain REIT status [2] Share and Equity Information - As of January 8, 2025, the company had 84,613,638 shares of common stock outstanding, up from 82,622,464 on December 31, 2024, and 78,082,645 on September 30, 2024 [3] - Estimated book value per share was $8.09 as of December 31, 2024, based on preliminary total stockholders' equity of approximately $668.5 million [4] Financial Performance - Estimated net income per share was $0.07 for Q4 2024, including $0.02 per share from net realized and unrealized gains on RMBS and derivative instruments [5] - Total return on equity for Q4 2024 was estimated at 0.6%, consisting of $0.36 per share in dividends and a $0.31 decrease in book value per share [6] RMBS Portfolio - The company's RMBS portfolio consists of traditional pass-through Agency RMBS and structured Agency RMBS, managed by Bimini Advisors, LLC [7] - As of December 31, 2024, the RMBS portfolio was valued at $5,303,052,000, with 70.6% in Fannie Mae and 29.4% in Freddie Mac assets [14] - The portfolio included $5,099,706,000 in Whole Pool Assets (96.2%) and $203,346,000 in Non-Whole Pool Assets (3.8%) [16] Hedging and Borrowings - The company maintained significant hedging positions, including $3,516,800,000 in swaps and $312,500,000 in 5-Year Treasury Futures [12] - Total borrowings as of December 31, 2024, were $5,025,543,000, with a weighted average repo rate of 4.66% and weighted average maturity of 26 days [16]

Group 1 - The article does not provide specific insights or analysis on any companies or industries, focusing instead on disclosures and disclaimers [1][2][3]

Core Viewpoint - Orca Energy Group Inc. reported a decrease in revenue for Q3 2024 and the nine months ended September 30, 2024, primarily due to changes in gas supply agreements and external factors affecting gas demand [2][3]. Financial Performance - Revenue decreased by 9% for Q3 2024 and by 13% for the nine months ended September 30, 2024, compared to the same periods in the prior year, totaling $24.8 million for Q3 2024 and $74.7 million for the nine months [2][5]. - Net income attributable to shareholders increased by 715% for Q3 2024 but decreased by 43% for the nine months ended September 30, 2024, primarily due to decreased revenue and higher foreign exchange losses [3][5]. - Net cash flows from operating activities decreased by 32% for Q3 2024 and by 46% for the nine months ended September 30, 2024, reflecting the impact of reduced revenue [3][5]. Gas Production and Sales - Daily average gas delivered and sold was 75.9 MMcfd for Q3 2024, an 8% decrease compared to the prior year, and 70.9 MMcfd for the nine months, a 19% decrease [5]. - Gas deliveries to the power sector decreased by 15% for Q3 2024 and by 24% for the nine months, attributed to increased hydropower generation from the Julius Nyerere Hydropower Project [2][5]. Operational Challenges - The termination of the Protected Gas supply after July 31, 2024, led to unrecognized revenues, including $3.6 million from Songas and $1.0 million from TPCPLC [2][3]. - The Interim Power Purchase Agreement between TANESCO and Songas expired on October 31, 2024, raising concerns about the potential indefinite shutdown of the Songas Power Plant, which would adversely affect gas demand [2][3]. Capital Expenditures and Investments - Capital expenditures increased by 219% for Q3 2024 and by 111% for the nine months ended September 30, 2024, primarily due to the SS-7 well workover program [3][5]. - The total expected cost for the SS-7 workover program increased to $23.5 million due to equipment failures and logistical delays [3][5]. Working Capital and Financial Position - As of September 30, 2024, the company had $67.1 million in working capital and $101.7 million in cash and cash equivalents, with a decrease in long-term debt to $25.1 million [3][5][6]. - The current receivable from TANESCO was $8.1 million, with a long-term receivable of $22.0 million, indicating ongoing financial engagements with the Tanzanian electricity supplier [3][5].

Core Viewpoint - Orca Energy Group Inc. provides an operational update highlighting challenges related to the expiration of the Interim Power Purchase Agreement with Songas Limited, which may lead to an indefinite shutdown of the Songas Power Plant and impact gas production from the Songo Songo gas field [2][3][12] Production and Operations - The annual average production guidance for Additional Gas is now forecasted to be between 65 - 68 million cubic feet per day (MMcfd), excluding volumes previously expected to be supplied to Songas [3] - Following the cessation of Protected Gas on July 31, 2024, Songas continued to lift gas volumes at an average rate of 17.8 MMcfd in August and September, but payment issues arose due to the Tanzania Petroleum Development Corporation's (TPDC) refusal to approve a Gas Sales Agreement [4][5] - The workover program on well SS-7 is ongoing, with expectations to restore production by November 2024, although project costs have increased to $22 million due to logistical and weather delays [7] Commercial Developments - The company issued a Notice of Dispute against the Government of Tanzania regarding breaches of investment agreements and contractual disputes, with initial meetings held but no resolution reached [8] - PAET has continued to supply gas to Tanzania Portland Cement PLC, but invoicing issues have arisen due to TPDC's refusal to approve the Supplementary Gas Agreement, leading to outstanding invoices totaling $5.39 million [9] Financial Overview - As of September 30, 2024, the company reported cash and cash equivalents of $101.7 million, an increase from $97.2 million as of June 30, 2024, with no change in long-term debt [10] - The receivable from TANESCO was reported at $8.1 million, with a long-term receivable of $22 million as of the same date [10]

Core Viewpoint - Clean Energy Technologies, Inc. (CETY) has signed a Memorandum of Understanding (MOU) with Exergy International Srl to enhance growth in heat recovery solutions through the promotion and support of Exergy's Organic Rankine Cycle (ORC) systems across the Americas and potentially other regions [1][3]. Company Overview - CETY specializes in eco-friendly energy solutions, clean fuels, and alternative power for small and mid-sized projects in the Americas, Europe, and Asia [1][5]. - Exergy is a leading provider of ORC systems, focusing on high-capacity solutions utilizing the Radial Outflow Turbine, with a portfolio exceeding 550 MWe [2][4]. Strategic Partnership - The partnership aims to expand Waste Heat to Power solutions, targeting industries such as cement, steel, glass, oil & gas, and utilities [1][3]. - The collaboration is expected to drive significant growth in the waste heat recovery sector, aligning with the increasing demand for energy-efficient solutions [2][3]. Market Potential - CETY's CEO, Kam Mahdi, highlighted the partnership as a scalable platform to address a wide range of ORC applications, including waste heat recovery and geothermal projects [3]. - Exergy's General Manager, Luca Pozzoni, emphasized the American market as a key focus for growth, aiming to establish new ORC references in the region [3]. Industry Trends - The demand for ORC solutions is anticipated to rise as industries prioritize sustainable energy practices, positioning CETY and Exergy to set new standards in energy-efficient solutions globally [3].

Orchid Island Capital, Inc. (NYSE:ORC) Q3 2024 Earnings Conference Call October 25, 2024 10:00 AM ET Company Participants Robert Cauley - Chairman and CEO Hunter Haas - CFO Conference Call Participants Jason Weaver - JonesTrading Mikhail Goberman - Citizens JMP Jason Stewart - Janney Montgomery Scott Christopher Nolan - Landenburg Thalmann & Co. Eric Hagen - BTIG Operator Good morning and welcome to the Third Quarter 2024 Earnings Conference Call of Orchid Island Capital. This call is being recorded today, ...

Financial Performance - Net income for the nine months ended September 30, 2024, was $32.1 million, or $0.53 per share, compared to a net loss of $66.4 million, or $1.58 per share, for the same period in 2023[119] - The company reported a net loss of $66.353 million for the three months ended September 30, 2023, with a net loss per share of $1.58, while for the same period in 2024, the net income was $17.320 million, translating to a net income per share of $0.24[125] - The company reported net portfolio income of $44.5 million for the nine months ended September 30, 2024, compared to a net loss of $51.9 million for the same period in 2023, indicating a change of $96.4 million[119] - Economic net interest income for the nine months ended September 30, 2024, was $86.1 million, compared to $45.6 million for the same period in 2023, indicating a substantial improvement in economic performance[138] Interest Income and Expenses - Interest income increased by $41.6 million to $169.6 million for the nine months ended September 30, 2024, compared to $128.0 million for the same period in 2023[119] - Interest income from RMBS assets for the nine months ended September 30, 2024, was $169.6 million, an increase of $41.6 million from $128.0 million in the same period of 2023, driven by a 106 basis point increase in yield[136] - Total interest expense for the nine months ended September 30, 2024, was $172,428 thousand, up from $149,593 thousand in the same period of 2023, a rise of 15%[151] - The company incurred net interest expense of $2.8 million for the nine months ended September 30, 2024, compared to $21.6 million for the same period in 2023, reflecting a significant decrease in net interest expense[136] Shareholder Activities - The company repurchased a total of 5,144,602 shares at an aggregate cost of approximately $77.5 million, with a weighted average price of $15.07 per share since the inception of the stock repurchase program[115] - The company issued a total of 24,675,497 shares under the March 2023 Equity Distribution Agreement for aggregate gross proceeds of approximately $228.8 million[111] - The company issued a total of 15,309,022 shares under the June 2024 Equity Distribution Agreement for aggregate gross proceeds of approximately $128.6 million, with net proceeds of approximately $126.5 million[191] Risk Management - The company utilized various derivative instruments to hedge interest rate risks, which are not included in GAAP interest expense, allowing for a clearer view of economic interest expense[129] - The company faces liquidity risk due to financing long-term assets with shorter-term borrowings, which could lead to increased margin calls if the value of pledged Agency RMBS or derivative instruments decreases[233] - Counterparty credit risk exists related to potential losses if counterparties to repurchase agreements and derivative contracts fail to perform, despite efforts to mitigate this risk through collateral adjustments[236] Market Conditions - The Fed lowered the Fed Funds rate by 50 basis points in late September 2024, marking the first interest rate cut since March 2023, which is expected to impact the company's operations positively[194] - The anticipated increase in mortgage refinance applications following the Fed Funds rate cut in September 2024 may accelerate the balance sheet reduction process[201] - The Agency RMBS index generated a total return of 0.2% for Q2 2024, compared to 4.3% for the S&P 500, indicating modest performance in the risk asset category[199] Operational Efficiency - Total expenses for the nine months ended September 30, 2024, were $12.4 million, a decrease of $2.1 million from $14.5 million for the same period in 2023[119] - Management fees for the nine months ended September 30, 2024, were $6,867,000, a decrease of $1,349,000 (16.4%) compared to $8,216,000 for the same period in 2023[162] - The company has sufficient short-term and long-term liquidity and capital resources for acquisitions, repayments on borrowings, and dividend payments[180] Dividend Information - The company intends to pay regular monthly dividends, having declared a dividend of $0.12 per share to be paid on November 27, 2024[217] - The company reported a total dividend payout of $67.65 per share since its IPO, amounting to $685.335 million[217] Portfolio Performance - The RMBS portfolio as of September 30, 2024, consisted of $5,442.8 million in Agency RMBS at fair value, with a weighted average coupon of 4.90%[169] - Unrealized gains on RMBS for the nine months ended September 30, 2024, were $161.919 million, compared to a loss of $210.159 million in the same period of 2023[159] - The average RMBS held increased to $4,984,279 thousand for the three months ended September 30, 2024, compared to $4,447,098 thousand for the same period in 2023, reflecting a growth of 12%[141] Economic Indicators - The 30-year fixed-rate mortgage rate as of September 30, 2024, was 6.08%, down from 7.31% in the same period of 2023[157] - The average 10-year U.S. Treasury rate as of September 30, 2024, was 3.80%, down from 4.57% in the same period of 2023[157] - The average SOFR for the three months ended September 30, 2024, was 5.16%, compared to 5.32% for the same period in 2023, indicating a decrease of 0.16%[152] Internal Controls - There were no significant changes in the company's internal control over financial reporting during the most recent fiscal quarter that materially affected its effectiveness[239] - The company has effective disclosure controls and procedures in place, ensuring timely communication of information to management[238]

8 Q3 2024 Earnings Supplemental Materials October 25, 2024 1 Disclaimers Forward-Looking Information This presentation contains forward-looking statements and information. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words "may," "could," "would," "should," "believe," "expect," "anticipate," "plan," "estimate," "target," "project," " ...