NYSE$ORC
Orchid Island Ca · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Orchid Island Capital reported a net loss due to net realized and unrealized losses on RMBS and derivative instruments, while strategically repositioning its portfolio amidst a volatile market environment.
Orchid Island Capital reported a net loss of $148.7 million for the first quarter of 2022, driven by net realized and unrealized losses on RMBS and derivative instruments. The company strategically reduced its portfolio size and repositioned its hedge positions to navigate the challenging market conditions.
- Net loss of $148.7 million, or $0.84 per common share.
- Net interest income of $39.2 million, or $0.22 per common share.
- Book value per common share of $3.34 at March 31, 2022.
- Leverage ratio decreased from 8.1 to one to 7.5 to one.
Headline financials
Revenue & EPS history
Orchid Island · Revenue · Quarterly
$39.2M
Forward guidance
The company aims to preserve liquidity and minimize the impact of market volatility on its portfolio to capitalize on more favorable market conditions in the future.
Tailwinds
- Repositioned hedge positions to minimize impact from headwinds
- Reduced portfolio size through asset sales and retaining cash from paydowns
- Leverage ratio declined from 8.1 to one to 7.5 to one
- Increased allocation to structured securities, interest only portfolio
- Maintained ample liquidity, with cash balances equal to approximately 50% of shareholders equity
Headwinds
- Rapid removal of accommodation by the Federal Reserve.
- Inflation accelerating to levels not seen since the early 1980s.
- War in Ukraine causing substantial inflationary pressure.
- COVID-19 induced lock-downs across China exacerbating supply chain issues.
- Reduced dividend in response to the compression of the gap between funding costs and asset yields.
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 Q1 2022
-1.0%
Avg return
Earnings day
-2.1%
Avg return
5 days after
-3.7%
Avg return
30 days after
44%
25 / 57 earnings
Positive
+7.5%
Q4 2023
Best reaction
-12.4%
Q4 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.2% | +2.8% | -1.2% | |
| Q4 2025 | -5.7% | -7.4% | -10.0% | |
| Q3 2025 | +2.7% | -0.5% | -3.2% | |
| Q2 2025 | +1.2% | -2.1% | -2.3% | |
| Q1 2025 | +5.1% | +3.2% | -0.1% | |
| Q3 2024 | +1.4% | +0.9% | -1.4% | |
| Q2 2024 | +1.3% | +3.1% | +4.5% | |
| Q1 2024 | +1.0% | -3.5% | -0.7% | |
| Q4 2023 | +7.5% | +3.4% | +8.5% | |
| Q3 2023 | -1.3% | +2.6% | +20.8% | |
| Q2 2023 | -4.0% | -6.1% | -14.5% | |
| Q1 2023 | -1.8% | -12.8% | -7.5% | |
| Q4 2022 | +1.7% | -0.6% | -8.9% | |
| Q3 2022 | -0.1% | +0.2% | +8.0% | |
| Q2 2022 | -1.9% | -1.9% | -19.9% | |
| Q1 2022 | -4.1% | +2.4% | +5.2% | |
| Q4 2021 | -4.8% | -11.2% | -5.9% | |
| Q3 2021 | -1.2% | -1.2% | -4.4% | |
| Q2 2021 | -3.1% | -4.1% | +0.2% | |
| Q1 2021 | -1.4% | -1.8% | -2.0% | |
| Q4 2020 | -2.1% | -1.0% | +2.4% | |
| Q3 2020 | +1.2% | +3.3% | +6.8% | |
| Q2 2020 | +1.2% | -2.2% | +1.4% | |
| Q1 2020 | -5.1% | -6.8% | +2.0% | |
| Q4 2019 | +3.2% | -2.2% | -59.4% | |
| Q3 2019 | -4.1% | -3.8% | -2.9% | |
| Q2 2019 | +0.6% | +0.6% | -13.0% | |
| Q1 2019 | -1.0% | -4.6% | -4.9% | |
| Q4 2018 | -0.6% | -1.1% | -3.8% | |
| Q3 2018 | -3.8% | -6.9% | -2.2% | |
| Q2 2018 | -2.1% | -1.9% | -4.0% | |
| Q1 2018 | -2.9% | -6.6% | -1.9% | |
| Q4 2017 | -2.7% | +1.4% | -2.7% | |
| Q3 2017 | +2.7% | -0.9% | -1.6% | |
| Q2 2017 | +1.7% | +0.5% | +2.4% | |
| Q1 2017 | -3.8% | -2.6% | -8.3% | |
| Q4 2016 | -12.4% | -17.5% | -18.8% | |
| Q3 2016 | +3.3% | +3.8% | +2.9% | |
| Q2 2016 | +1.1% | +1.3% | -3.4% | |
| Q1 2016 | -10.6% | — | — | |
| Q4 2015 | +3.0% | — | — | |
| Q3 2015 | -10.4% | — | — | |
| Q2 2015 | +3.7% | — | — | |
| Q1 2015 | -0.4% | — | — | |
| Q4 2014 | -6.5% | — | — | |
| Q3 2014 | +0.1% | — | — | |
| Q2 2014 | -0.3% | — | — | |
| Q1 2014 | +1.5% | — | — | |
| Q4 2013 | +1.8% | — | — | |
| Q3 2013 | -0.9% | — | — | |
| Q3 2012 | -0.9% | — | — | |
| Q2 2012 | +0.9% | — | — | |
| Q2 2013 | -1.1% | — | — | |
| Q1 2013 | +0.2% | — | — | |
| Q1 2012 | +0.2% | — | — | |
| Q4 2011 | -3.3% | — | — | |
| Q4 2012 | -3.3% | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2011 | — | — | — |
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