NYSE$DX

Dynex Capital Inc · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Dynex Capital's Q3 2022 results were announced, revealing a total economic loss of $(2.17) per common share and a decline in book value per common share to $14.23.

Dynex Capital reported a challenging third quarter in 2022, marked by economic loss and a decline in book value due to interest rate volatility and spread widening. Despite these challenges, the company's liquidity remains solid, and it is well-positioned to benefit when the markets stabilize. The company reported a net loss of $(1.07) per common share. Earnings available for distribution (EAD) to common shareholders was $0.24 per common share.

  • Total economic loss of $(2.17) per common share, or (12.9)% of beginning book value.
  • Book value per common share declined by $(2.56) to $14.23 as of September 30, 2022, partially offset by dividends declared of $0.39 per common share.
  • Comprehensive loss of $(2.20) per common share and net loss of $(1.07) per common share.
  • Earnings available for distribution (EAD) to common shareholders was $0.24 per common share.

Headline financials

Total Revenue

-$69.1M

Previous: $22.4M-408.3%
EPS (adj)

$0.24

Previous: $0.54-55.6%
Net Interest Spread

0.2%

Previous: 1.9%-88.1%
Economic Net Interest Spread

1.1%

Previous: 2.1%-46.7%
Free Cash Flow

-$46.7M

Previous: $14M-432.6%
Net Income

-$46.7M

Previous: $14M-432.6%
Operating Income

-$75.3M

Previous: $16.8M-548.4%
Gross Profit

-$69.1M

Previous: $22.4M-408.3%
Cash & Equivalents

$260M

Previous: $383M-32.0%
Total Assets

$4.05B

Previous: $3.35B+20.7%
Stock-Based Comp

$2.16M

Previous: $760K+183.9%

Revenue & EPS history

Dynex Capital · Revenue · Quarterly

-$69.1M

Q3 2022-408.3%vs Q3 2021
Beat estimate in 9 of 14 quarters(64%)
ActualEstimate

Forward guidance

The company did not provide specific forward guidance but discussed factors influencing future performance.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2022

Historical avgQ3 2022

-0.6%

Avg return

Earnings day

+0.3%

Avg return

5 days after

+0.3%

Avg return

30 days after

41%

27 / 66 earnings

Positive

+13.5%

Q1 2022

Best reaction

-10.4%

Q2 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.7%+1.1%-5.5%
Q4 2025+0.0%-5.1%-4.5%
Q3 2025+0.2%+0.1%+0.2%
Q2 2025-0.5%-1.1%-0.8%
Q1 2025-1.8%+4.8%+3.1%
Q4 2024+1.2%+5.1%+10.5%
Q3 2024-1.3%-1.7%-1.7%
Q2 2024+1.0%-1.0%+0.3%
Q1 2024+1.0%+1.8%+5.0%
Q4 2023-1.5%-2.8%-4.3%
Q3 2023-4.7%-10.0%+6.8%
Q2 2023+5.9%+5.6%-1.4%
Q1 2023-1.0%+0.5%-8.3%
Q4 2022-3.8%-2.4%-13.8%
Q3 2022-2.1%+3.2%+11.0%
Q2 2022-0.5%+1.9%-4.4%
Q1 2022+13.5%+13.7%+12.9%
Q4 2021+0.8%+3.6%-3.5%
Q3 2021-1.5%-0.2%-3.3%
Q2 2021+2.0%-0.2%+1.8%
Q1 2021+2.9%+3.2%-0.1%
Q4 2020+3.6%-2.3%+2.0%
Q3 2020+5.2%+4.4%+12.0%
Q2 2020+1.0%-0.1%+4.6%
Q1 2020-3.2%-6.7%+6.6%
Q4 2019+5.1%+5.9%-2.4%
Q3 2019+5.6%+3.7%+9.2%
Q2 2019-3.7%-6.3%-16.8%
Q1 2019-1.5%-2.0%-9.8%
Q4 2018-2.6%-1.6%-1.6%
Q3 2018+0.0%+1.0%+1.9%
Q2 2018-2.7%-3.9%-2.7%
Q1 2018-1.5%+0.6%-1.5%
Q4 2017-0.6%+1.8%+1.3%
Q3 2017+0.3%-1.1%+2.3%
Q2 2017+3.2%+2.9%+4.0%
Q1 2017-5.9%-6.0%-5.7%
Q4 2016+1.3%+1.5%+3.3%
Q3 2016-4.2%-2.6%-2.5%
Q2 2016+2.1%+4.5%+7.3%
Q1 2016-5.3%
Q4 2015+2.9%
Q3 2015+3.3%
Q2 2015-10.4%
Q1 2015-2.4%
Q4 2014-0.4%
Q3 2014+1.0%
Q2 2014-1.7%
Q1 2014-0.5%
Q4 2013-2.4%
Q3 2013-3.5%
Q2 2013-10.2%
Q1 2013-0.2%
Q1 2010+0.3%
Q4 2012-0.8%
Q3 2012-0.9%
Q2 2012+1.8%
Q4 2011+1.8%
Q1 2011+1.5%
Q1 2012+0.7%
Q3 2010-0.6%
Q3 2011-0.6%
Q2 2011-5.8%
Q4 2010-5.8%
Q4 2009-5.8%
Q2 2010-5.8%

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