Invesco Mortgage Capital Earnings: IVR Stock Jumps 4% on Q1 Results

Invesco Mortgage Capital (NYSE:IVR) earnings for the real estate investment company’s fiscal first quarter of 2020 have IVR stock on the move Monday. That comes after reporting diluted losses per share of $10.38. Wall Street was looking for a diluted EPS of 22 cents.

Invesco Mortgage Capital Earnings: IVR Stock Jumps 4% on Q1 Results

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Here are some additional highlights from the most recent Invesco Mortgage Capital earnings report.

  • Diluted per-share losses are a massive decline from its $1.05 reported during the same time last year.
  • Invesco Mortgage Capital doesn’t include revenue data in its most recent earnings report.
  • The  earnings report also has net loss coming in at $1.62 billion.
  • That’s a major decrease compared to the company’s net income of $138.79 million from the same period of the year prior.

John Anzalone, CEO of IVR, said this in the current earnings report.

“Over the next several quarters, we plan to transition capital into Agency RMBS investments as we continue to focus on increased liquidity and reduce our credit position through opportunistic sales. We expect this portfolio repositioning to produce a more normalized earnings stream as low funding costs, Federal Reserve support via asset purchases and a steepening yield curve should benefit Agency RMBS.”

Invesco Mortgage Capital doesn’t discuss guidance in the earnings report. It will hold a conference call going over the details at 9:00 a.m. Eastern Time on Tuesday. The call will be available via calling in.

IVR stock was up 4% after markets closed on Thursday and was up 2.8% at the end of normal trading hours.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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