NYSE$IVR

Invesco Mortgage Capital Inc · Q3 2020 earnings

Q3 2020 earnings · · Investor relations

Briefing

Announced financial results for the quarter ended September 30, 2020.

Invesco Mortgage Capital Inc. reported a net income of $96.9 million, or $0.53 per common share, for the third quarter of 2020. The company resumed investing in Agency RMBS and reduced exposure to credit investments. Book value per common share increased by 9.5% to $3.47.

  • Reported net income per common share of $0.53 compared to a net loss of ($1.80) in Q2 2020
  • Announced core earnings of $0.06 per common share
  • Raised common stock dividend to $0.05 per common share compared to $0.02 in Q2 2020
  • Increased book value per common share to $3.47 from $3.17 as of June 30, 2020

Headline financials

Total Revenue

$28.9M

Previous: $73M-60.5%
EPS (adj)

$0.60

Previous: $4.70-87.2%
Book Value Per Common Share

$3.47

Previous: $3.17+9.5%
Debt-to-Equity Ratio

4.3

Previous: 0.6+616.7%
Earnings Available for Distribution

$11.3M

No prior period
Effective Cost of Funds

0.3%

No prior period
Effective Interest Rate Margin

2.4%

No prior period
Economic Debt-to-Equity Ratio

5.1

No prior period
Free Cash Flow

$108M

Previous: $89M+21.3%
Net Income

$108M

Previous: $89M+21.3%
Operating Income

$22.9M

Previous: $62.4M-63.3%
Gross Profit

$28.9M

Previous: $73M-60.5%
Cash & Equivalents

$259M

Previous: $126M+105.7%
Total Assets

$6.48B

Previous: $24.1B-73.1%

Revenue & EPS history

Invesco Mortgage Capital · Revenue · Quarterly

$28.9M

Q3 2020-60.5%vs Q3 2019
Beat estimate in 4 of 16 quarters(25%)
ActualEstimate

Forward guidance

The Company intends to increase its equity allocation to Agency RMBS in the fourth quarter of 2020.

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 2020

Historical avgQ3 2020

-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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