Earnings available for distribution

Search documents
Chimera Investment(CIM) - 2025 Q2 - Earnings Call Presentation
2025-08-06 12:30
Company Strategy & Performance - Chimera Investment Corp is a hybrid mortgage REIT focused on diversified investment solutions across the mortgage credit product spectrum[10, 13] - The company reported earnings available for distribution of $039 per share[19] - Book value per share was $2091, a 12% decrease from the previous quarter[22] - Economic return for the quarter was 05%[19, 22] HomeXpress Acquisition - Chimera entered into a definitive agreement to acquire HomeXpress Mortgage Corp, expected to close in Q4 2025[11, 21, 22] - The acquisition consideration includes cash equal to HomeXpress's book value plus a $120 million premium and 2,077,151 shares of CIM common stock[22] - HomeXpress has originated over $107 billion in loans since 2016[25, 27] - HomeXpress generated $47 million in pre-tax earnings in 2024[27] Portfolio Composition & Activity - The company purchased $19 billion in notional Agency pass-throughs, with an additional $402 million settling in Q3[22] - Recourse leverage increased to 18x from 12x in Q1 due to growth in Agency RMBS allocation[22] - Loans under third-party asset management grew 43% year-over-year to $254 billion[57, 58]
Invesco Mortgage Capital (IVR) - 2025 Q2 - Earnings Call Presentation
2025-07-25 13:00
Second Quarter 2025 Earnings Call Invesco Mortgage Capital Inc. July 25, 2025 John Anzalone Kevin Collins Mark Gregson David Lyle Brian Norris Chief Executive Officer President Chief Financial Officer Chief Operating Officer Chief Investment Officer Cautionary Notice Regarding Forward-Looking Statements 2 Q2 2025 Results | Financial Results | | | | | Investment Allocation | | --- | --- | --- | --- | --- | --- | | | Q2 25 | Q1 25 | | | | | Net income (loss) per common share | ($0.40) | $0.26 | | | | | Earnin ...
Invesco Mortgage Capital Inc. Reports Second Quarter 2025 Financial Results
Prnewswire· 2025-07-24 20:15
Core Viewpoint - Invesco Mortgage Capital Inc. reported a challenging second quarter in 2025, with a significant economic return of (4.8)%, driven by market volatility and a decline in book value per share, despite maintaining a consistent dividend payout. Financial Performance - The company experienced a net loss attributable to common stockholders of $26.6 million, translating to a loss per share of $0.40, compared to a net income of $16.3 million and earnings per share of $0.26 in Q1 2025 [10][11]. - Total interest income decreased to $70.6 million from $73.8 million in Q1 2025, while total interest expense also fell to $52.9 million from $55.0 million, resulting in a net interest income of $17.7 million, down from $18.8 million [9][10]. - The average earning assets at amortized cost decreased to $5,078.9 million from $5,422.6 million, and average borrowings also declined to $4,577.6 million from $4,930.2 million [9]. Portfolio and Valuation - As of June 30, 2025, the company’s investment portfolio was valued at $5.2 billion, comprising $4.3 billion in Agency RMBS and $0.9 billion in Agency CMBS, with a debt-to-equity ratio of 6.5x, down from 7.1x at the end of Q1 2025 [3][10]. - The estimated book value per common share as of July 18, 2025, is projected to be between $7.99 and $8.31, reflecting a cautious near-term outlook for Agency RMBS but a favorable long-term outlook due to expected investor demand [4][10]. Dividends and Capital Activities - The company declared a common stock dividend of $0.34 per share, consistent with the previous quarter, to be paid on July 25, 2025 [22]. - During the quarter, the company sold 282,750 shares of common stock for net cash proceeds of $2.2 million and repurchased 96,803 shares of Series C Preferred Stock for $2.3 million [23][24]. Economic Return and Non-GAAP Measures - The economic return for the quarter was calculated as the change in book value per common share of ($0.76) plus dividends declared of $0.34, resulting in an economic return of (4.8)%, compared to a positive return of 2.6% in Q1 2025 [6][10]. - Earnings available for distribution per common share decreased to $0.58 from $0.64 in Q1 2025, indicating a decline in the company’s ability to generate income for distribution [10][43].
Invesco Mortgage Capital (IVR) - 2025 Q1 - Earnings Call Presentation
2025-05-08 12:16
Financial Performance (Q1 2025) - Net income per common share was $0.26, a recovery from the $(0.09) loss in Q4 2024[8] - Earnings available for distribution per common share increased to $0.64 from $0.53 in the previous quarter[8] - The company declared a common stock dividend of $0.34 per share, down from $0.40 in Q4 2024[8] - Book value per common share slightly decreased to $8.81 from $8.92[8] - Economic return was 2.6%, compared to (0.5)% in the prior quarter[8] - The debt-to-equity ratio increased to 7.1x from 6.7x at the end of the previous quarter[8] Portfolio Allocation and Activity - Agency RMBS represented 83.7% of the investment allocation[8] - Agency CMBS accounted for 15.0% of the investment allocation[8] - Non-Agency RMBS made up 0.1% of the investment allocation, totaling $5.9 billion[8] - Agency CMOs comprised 1.2% of the investment allocation[8] - The company issued $36.0 million of common stock under the at-the-market program[10] - The company repurchased Series C Preferred Stock with a carrying value of $2.2 million[10] - The company held $372 million of unrestricted cash and unencumbered investments at quarter end[10] Portfolio Update (as of April 30) - Estimated book value per common share ranged from $7.74 to $8.06, a decrease from $8.81 at the end of Q1 2025[47] - The company reduced portfolio size by selling higher coupon Agency RMBS to lower risk in a volatile environment[47] - Estimated debt-to-equity ratio decreased to 6.4x from 7.1x at the end of Q1 2025[47] - The company held $336 million in cash and unencumbered investments[47]