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Invesco Mortgage Capital Earnings Calls
| Release date | Oct 30, 2025 |
| EPS estimate | $0.580 |
| EPS actual | $0.0556 |
| EPS Surprise | -90.42% |
| Revenue estimate | 36.283M |
| Revenue actual | -5845000 |
| Revenue Surprise | -116.11% |
| Release date | Jul 24, 2025 |
| EPS estimate | $0.573 |
| EPS actual | -$0.351 |
| EPS Surprise | -161.25% |
| Revenue estimate | 45.505M |
| Revenue actual | -18455000 |
| Revenue Surprise | -140.56% |
| Release date | May 06, 2025 |
| EPS estimate | $0.574 |
| EPS actual | $0.149 |
| EPS Surprise | -74.13% |
| Revenue estimate | 45.15M |
| Revenue actual | 24.3M |
| Revenue Surprise | -46.18% |
| Release date | Feb 20, 2025 |
| EPS estimate | $0.667 |
| EPS actual | $0.0577 |
| EPS Surprise | -91.36% |
| Revenue estimate | 50.181M |
| Revenue actual | 8.523M |
| Revenue Surprise | -83.02% |
Last 4 Quarters for Invesco Mortgage Capital
Below you can see how IVR-PC performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Feb 20, 2025 |
| Price on release | $24.65 |
| EPS estimate | $0.667 |
| EPS actual | $0.0577 |
| EPS surprise | -91.36% |
| Date | Price |
|---|---|
| Feb 13, 2025 | $24.31 |
| Feb 14, 2025 | $24.32 |
| Feb 18, 2025 | $24.44 |
| Feb 19, 2025 | $24.33 |
| Feb 20, 2025 | $24.65 |
| Feb 21, 2025 | $24.29 |
| Feb 24, 2025 | $24.33 |
| Feb 25, 2025 | $24.33 |
| Feb 26, 2025 | $24.15 |
| 4 days before | 1.40% |
| 4 days after | -2.03% |
| On release day | -1.48% |
| Change in period | -0.658% |
| Release date | May 06, 2025 |
| Price on release | $24.63 |
| EPS estimate | $0.574 |
| EPS actual | $0.149 |
| EPS surprise | -74.13% |
| Date | Price |
|---|---|
| Apr 30, 2025 | $24.20 |
| May 01, 2025 | $24.38 |
| May 02, 2025 | $24.59 |
| May 05, 2025 | $24.49 |
| May 06, 2025 | $24.63 |
| May 07, 2025 | $24.67 |
| May 08, 2025 | $24.83 |
| May 09, 2025 | $24.57 |
| May 12, 2025 | $24.60 |
| 4 days before | 1.78% |
| 4 days after | -0.122% |
| On release day | 0.162% |
| Change in period | 1.65% |
| Release date | Jul 24, 2025 |
| Price on release | $24.10 |
| EPS estimate | $0.573 |
| EPS actual | -$0.351 |
| EPS surprise | -161.25% |
| Date | Price |
|---|---|
| Jul 18, 2025 | $24.25 |
| Jul 21, 2025 | $24.20 |
| Jul 22, 2025 | $23.95 |
| Jul 23, 2025 | $23.86 |
| Jul 24, 2025 | $24.10 |
| Jul 25, 2025 | $23.84 |
| Jul 28, 2025 | $24.01 |
| Jul 29, 2025 | $24.37 |
| Jul 30, 2025 | $24.35 |
| 4 days before | -0.619% |
| 4 days after | 1.04% |
| On release day | -1.08% |
| Change in period | 0.412% |
| Release date | Oct 30, 2025 |
| Price on release | $24.53 |
| EPS estimate | $0.580 |
| EPS actual | $0.0556 |
| EPS surprise | -90.42% |
| Date | Price |
|---|---|
| Oct 24, 2025 | $24.52 |
| Oct 27, 2025 | $24.52 |
| Oct 28, 2025 | $24.62 |
| Oct 29, 2025 | $24.57 |
| Oct 30, 2025 | $24.53 |
| Oct 31, 2025 | $24.58 |
| Nov 03, 2025 | $24.67 |
| Nov 04, 2025 | $24.60 |
| Nov 05, 2025 | $24.70 |
| 4 days before | 0.0408% |
| 4 days after | 0.693% |
| On release day | 0.204% |
| Change in period | 0.734% |
Invesco Mortgage Capital Earnings Call Transcript Summary of Q3 2025
Key points for investors:
- Strong Q3 performance: book value per common share increased 4.5% to $8.41 and the company paid a $0.34 dividend, yielding an economic return of 8.7% for the quarter.
- Portfolio size and composition: total investment portfolio about $5.7 billion at quarter end (approximately $4.8 billion Agency RMBS and $0.9 billion Agency CMBS). Unrestricted cash and unencumbered investments totaled $423 million.
- Funding and leverage: repurchase agreements rose to $5.2 billion; debt-to-equity was 6.7x (up slightly from 6.5x). Hedge ratio declined from 94% to 85% as hedge composition shifted modestly towards treasury futures and swaps remain preferred on a notional basis.
- Capital activity: $36 million of common stock was issued via the ATM program during the quarter; modest preferred buybacks (~$2 million) continued. Management remains focused on improving capital structure and reducing cost of capital but is not repurchasing common stock currently given accretive investment opportunities and fluctuating persistent discounts.
- Market and strategy outlook: Management is constructive on Agency RMBS and views near-term risks as balanced after strong performance; lower interest rate volatility, a steeper yield curve, the end of quantitative tightening, and prospective regulatory changes are expected to be tailwinds. Agency CMBS is seen as a complementary allocation offering prepayment protection, diversification and low-double-digit levered ROEs.
- Portfolio positioning and risks: higher-coupon specified pools appreciated and offered prepayment protection, but premium pools face prepayment/refi sensitivity (notably a refi pickup in September). Management expects some short-lived increases in refinancing activity but forecasts speeds to moderate. Valuations for Agency RMBS are described as attractive (current-coupon spreads near ~170 bp on a 5- & 10-year SOFR blend), with levered gross returns in the upper teens.
