NYSE$IVR

Invesco Mortgage Capital Inc · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

Announced financial results for the quarter ended June 30, 2023.

Invesco Mortgage Capital Inc. reported a net loss per common share of $0.03 for Q2 2023, compared to a net income of $0.39 in Q1 2023. Earnings available for distribution per common share were $1.45. The book value per common share decreased to $11.98 from $12.61 as of March 31, 2023. The company's economic return was (1.8)%, and the debt-to-equity ratio ended the quarter at 5.9x.

  • Net loss per common share of $0.03 compared to net income of $0.39 in Q1 2023
  • Earnings available for distribution per common share of $1.45 compared to $1.50 in Q1 2023
  • Common stock dividend of $0.40 per common share, unchanged from Q1 2023
  • Book value per common share of $11.98 compared to $12.61 as of March 31, 2023

Headline financials

Total Revenue

$12.4M

Previous: $41.1M-69.8%
EPS (adj)

$1.45

Previous: $1.40+3.6%
Average Earning Asset Yields

5.4%

Previous: 3.8%+41.6%
Average Cost of Funds

4.9%

Previous: 0.3%+1350.0%
Average Net Interest Rate Margin

0.5%

Previous: 3.5%-86.2%
Debt-to-Equity Ratio

5.9

Previous: 3.4+73.5%
Effective Interest Rate Margin

5.5%

No prior period
Free Cash Flow

$4.08M

Previous: -$110M+103.7%
Net Income

$4.08M

Previous: -$110M+103.7%
Operating Income

$7.28M

Previous: $34M-78.6%
Gross Profit

$12.4M

Previous: $41.1M-69.8%
Cash & Equivalents

$209M

Previous: $202M+3.4%
Total Assets

$5.87B

Previous: $4.3B+36.3%

Revenue & EPS history

Invesco Mortgage Capital · Revenue · Quarterly

$12.4M

Q2 2023-69.8%vs Q2 2022
Beat estimate in 3 of 14 quarters(21%)
ActualEstimate

Forward guidance

The conclusion of the Federal Reserve’s tightening cycle will result in a reduction of interest rate volatility and, when combined with compelling valuations and favorable funding conditions, will support an attractive investment environment for Agency RMBS in the second half of 2023.

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 Q2 2023

Historical avgQ2 2023

-0.1%

Avg return

Earnings day

-0.5%

Avg return

5 days after

-2.8%

Avg return

30 days after

46%

30 / 65 earnings

Positive

+13.3%

Q3 2020

Best reaction

-8.4%

Q3 2013

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.0%+1.7%-2.7%
Q4 2025-3.4%-0.1%-5.3%
Q3 2025+0.3%+0.4%+9.2%
Q2 2025-0.4%-0.4%-1.7%
Q1 2025+1.8%+3.8%+3.0%
Q4 2024-0.9%-1.3%-3.1%
Q3 2024-1.0%+3.5%+3.7%
Q2 2024+1.4%-0.5%+0.1%
Q1 2024+1.4%+1.4%+0.4%
Q4 2023-0.1%+2.1%+9.2%
Q3 2023-3.6%-4.4%+2.8%
Q2 2023-2.2%-1.9%-3.4%
Q1 2023+6.6%+4.6%+3.7%
Q4 2022-4.2%-6.1%-23.3%
Q3 2022-2.2%+2.0%+14.3%
Q2 2022+2.0%+1.9%-7.9%
Q1 2022-8.1%-9.7%-5.4%
Q4 2021-6.3%-11.4%-13.7%
Q3 2021+1.9%+2.8%-7.8%
Q2 2021-6.7%-7.9%-9.6%
Q1 2021-5.2%-7.3%-12.3%
Q4 2020+3.2%+5.1%+4.9%
Q3 2020+13.3%+11.8%+17.8%
Q2 2020+3.8%+3.8%-8.9%
Q1 2020-3.7%-15.4%-21.9%
Q4 2019+0.5%-0.8%-69.4%
Q3 2019+3.5%+2.9%+5.1%
Q2 2019+2.6%+1.7%-7.5%
Q1 2019-0.2%-0.7%-1.6%
Q4 2018-0.4%+0.0%+0.7%
Q3 2018-0.8%-0.1%+2.1%
Q2 2018-1.4%-1.9%+1.3%
Q1 2018+2.3%-0.1%+1.6%
Q4 2017-2.1%-1.3%-0.1%
Q3 2017-1.5%-1.7%+7.5%
Q2 2017+1.9%+0.8%+0.5%
Q1 2017+0.4%-2.9%+2.7%
Q4 2016-0.2%-1.4%-2.6%
Q3 2016+0.7%+0.1%-2.1%
Q2 2016+4.7%+5.7%+7.7%
Q1 2016+4.4%
Q4 2015+5.1%
Q3 2015+2.3%
Q2 2015+0.3%
Q1 2015+1.0%
Q4 2014+3.4%
Q3 2014-2.4%
Q2 2014+0.5%
Q1 2014+0.3%
Q4 2013-1.8%
Q3 2013-8.4%
Q2 2013-3.3%
Q1 2013-3.4%
Q4 2012-1.1%
Q4 2011-1.3%
Q3 2012+1.3%
Q2 2012-2.5%
Q1 2012-0.3%
Q3 2011-1.0%
Q2 2011+4.8%
Q1 2011+0.5%
Q4 2010+0.6%
Q3 2010-1.5%
Q2 2010-0.6%
Q1 2010-1.0%

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