AI Earnings Predictions for INVESCO MORTGAGE CAPITAL INC (IVR)

EX-99.1

2 ivrq22026-8kxex991.htm

EX-99.1

Document

Exhibit 99.1

Press Release

For immediate release

Greg Seals,

Investor Relations

404-439-3323

Invesco Mortgage Capital Inc. Reports Second Quarter 2026 Financial Results

Atlanta - July 30, 2026 -- Invesco Mortgage Capital Inc. (NYSE: IVR) (the “Company”) today announced financial results for the quarter ended June 30, 2026.

•Net income per common share of $0.34 compared to net loss of $0.28 in Q1 2026

•Earnings available for distribution per common share(1) of $0.50 compared to $0.55 in Q1 2026

•Monthly common stock dividends totaling $0.36 per share, unchanged from Q1 2026

•Book value per common share(2) of $8.03 compared to $8.08 as of March 31, 2026

•Economic return(3) of 3.8% compared to (3.2)% in Q1 2026

•Debt-to-equity ratio of 6.3x compared to 6.1x as of March 31, 2026

•Economic debt-to-equity ratio(1) of 7.5x, unchanged from March 31, 2026

Update from Kevin Collins, Chief Executive Officer

“During the second quarter of 2026, financial conditions improved despite periodic bouts of volatility driven by geopolitical developments in the Middle East and shifting expectations for monetary policy. While U.S. Treasury yields moved higher amid resilient economic growth and elevated inflation, interest rate volatility declined notably from March levels, and investor risk sentiment improved during the quarter. Against this backdrop, our target assets generated positive returns in excess of Treasuries, supported by attractive carry and favorable supply and demand dynamics.

“Our Agency RMBS and TBA investments performed well despite rising interest rates and a more restrictive monetary policy outlook. Our Agency CMBS continued to provide notable stability, supported by attractive relative valuations and predictable cashflows. Economic return for the quarter was 3.8%, driven by attractive carry and contracting risk premiums across our Agency MBS portfolio.

“At quarter end, our $8.2 billion investment portfolio consisted of $6.0 billion Agency RMBS, $1.2 billion Agency TBA, and $0.9 billion Agency CMBS. Our economic debt-to-equity ratio was unchanged at 7.5x, and we maintained a sizable balance of unrestricted cash and unencumbered investments totaling $548.3 million.

“Our outlook for Agency RMBS and Agency CMBS remains constructive. While uncertainty surrounding monetary policy and geopolitical developments persists, we believe valuations remain compelling as interest rate volatility and inflation expectations have moderated from their first quarter peaks. Supply and demand dynamics remain favorable as net issuance is expected to be contained, and broad-based investor demand remains supportive. Agency CMBS is also well positioned, supported by its attractive risk-adjusted yields, relatively low sensitivity to interest rate fluctuations, and diversification benefits. Taken together, these macroeconomic and market technical factors create a favorable backdrop for our investment strategy as we enter the second half of 2026.”

(1) Earnings available for distribution (and by calculation, earnings available for distribution per common share) and economic debt-to-equity ratio are non-Generally Accepted Accounting Principles (“GAAP”) financial measures. Refer to the section entitled “Non-GAAP Financial Measures” for important disclosures and a reconciliation to the most comparable U.S. GAAP measures.

(2) Book value per common share as of June 30, 2026 and March 31, 2026 is calculated as total stockholders' equity less the liquidation preference of the Company's Series C Preferred Stock ($168.6 million as of June 30, 2026 and $169.7 million as of March 31, 2026), divided by total common shares outstanding.

(3) Economic return for the quarter ended June 30, 2026 is defined as the change in book value per common share from March 31, 2026 to June 30, 2026 of ($0.05); plus dividends declared of $0.36 per common share; divided by the March 31, 2026 book value per common share of $8.08. Economic return for the quarter ended March 31, 2026 is defined as the change in book value per common share from December 31, 2025 to March 31, 2026 of ($0.64); plus dividends declared of $0.36 per common share; divided by the December 31, 2025 book value per common share of $8.72.

1

Key performance indicators for the quarters ended June 30, 2026 and March 31, 2026 are summarized in the table below.

$ in millions, except share amountsQ2 2026Q1 2026Variance

Average Balances (1) (unaudited)(unaudited)

Average earning assets (at amortized cost)$6,631.0 $5,946.5 $684.5

Average borrowings$5,927.7 $5,367.5 $560.2

Average total stockholders' equity$966.9 $887.5 $79.4

U.S. GAAP Financial Measures

Total interest income$85.4 $79.6 $5.8

Total interest expense$55.3 $52.6 $2.7

Net interest income$30.1 $27.0 $3.1

Total expenses$5.5 $4.9 $0.6

Net income (loss) attributable to common stockholders$31.8 ($23.1)$54.9

Average earning asset yields5.15 %5.36 %(0.21)%

Average cost

EX-99.1

2 ivr07152026-8kxex991.htm

EX-99.1

Document

Exhibit 99.1

Press Release

For immediate release

Greg Seals,

Investor Relations

404-439-3323

Invesco Mortgage Capital Inc. July 2026 Dividend Announcement and June Financial Update

Atlanta - July 15, 2026 -- Invesco Mortgage Capital Inc. (NYSE: IVR) (the “Company”) today announced that the Company declared a cash dividend of $0.12 per share of common stock for the month of July 2026. The dividend will be paid on August 14, 2026 to stockholders of record at the close of business on July 27, 2026, with an ex-dividend date of July 27, 2026.

Financial Highlights as of June 30, 2026

•Total investment portfolio including TBAs of $8.2 billion

•Unrestricted cash and unencumbered investments of $548.3 million

•Total repurchase agreement borrowings of $6.2 billion

•Estimated book value per common share of $8.03(1)

•Debt-to-equity ratio of 6.3x and economic debt-to-equity ratio of 7.5x(2)

(1) Estimated book value per common share as of June 30, 2026 is calculated as total stockholders' equity less the liquidation preference of the Company's Series C Preferred Stock ($168.6 million), divided by total common shares outstanding of 102.4 million.

(2) Debt-to-equity ratio is calculated in accordance with U.S. GAAP as the ratio of total repurchase agreement borrowings to total stockholders' equity. Economic debt-to-equity ratio is a non-GAAP financial measure and is calculated as the ratio of total repurchase agreement borrowings and TBAs at implied cost basis ($1.2 billion as of June 30, 2026) to total stockholders' equity. Refer to the section titled “Economic Debt-to-Equity Ratio” below for additional information.

The Company is providing certain preliminary, unaudited month-end financial data as of June 30, 2026, including updates on the Company's book value, investment portfolio, leverage and liquidity. The information in this press release has been prepared by, and is the responsibility of, the Company's management. The Company's independent auditors have not audited, reviewed, examined, compiled nor applied agreed-upon procedures with respect to this information and, accordingly, they do not express an opinion or provide any form of assurance on the figures presented.

The preliminary metrics and estimates included in this press release are based on information that the Company believes to be reliable as of today's date and reflect management's judgment at this stage of the month-end closing process. This month-end update should not be viewed as a substitute for financial statements prepared in accordance with U.S. GAAP and is not necessarily indicative of results to be achieved in any future period. Additional items may be identified as part of the ongoing month-end and quarter-end closing processes, and such items could result in material revisions to the data presented in this press release. Accordingly, readers should not place undue reliance on the preliminary figures contained in this press release. The Company undertakes no obligation to update or revise the information contained herein, whether as a result of new information, subsequent events or otherwise.

1

Portfolio Composition

The following table summarizes certain characteristics of the Company's investment portfolio including TBAs as of June 30, 2026.

As of June 30, 2026

$ in thousandsFair ValuePercentage Period-end Weighted Average Yield (1)

Agency RMBS:

30 year fixed-rate pass-through coupon:

4.5%1,257,214 15.4 %4.87 %

5.0%1,590,480 19.5 %5.18 %

5.5%1,901,626 23.4 %5.47 %

6.0%1,234,309 15.1 %5.91 %

Total 30 year fixed-rate pass-through5,983,629 73.4 %5.36 %

Agency CMO64,386 0.8 %8.83 %

Agency CMBS901,894 11.1 %4.62 %

Total MBS portfolio6,949,909 85.3 %5.29 %

TBAs, at implied market value (2) 1,201,022 14.7 %

Total investment portfolio including TBAs8,150,931 100.0 %

(1) Period-end weighted average yield is based on amortized cost as of June 30, 2026 and incorporates future prepayment assumptions when appropriate.

(2) The presentation of TBAs in the table above represents management's view of the investment portfolio and does not reflect how the Company records TBAs on its balance sheet under U.S. GAAP. Under U.S. GAAP, the Company records TBAs that it does not intend to settle on the contractual settlement date as derivative financial instruments. The Company values TBAs on its balance sheet at net carrying value, which represents the difference between the implied market value and the implied cost basis of the TBAs.

The following table summarizes certain characteristics of the Company's borrowings as of June 30, 2026.

As of June 30, 2026

$ in thousandsAmount OutstandingWeighted Average Interest RateWeighted Average Remaining Maturity (days)

Repurchase agreements - Agency MBS6,210,403 3.76 %25

The following table summarizes certain characteristics of the Company's interest rate swaps whereby the Company pays fixed interest rates and receives floating interest

EX-99.1

2 ivrq12026-8kxex991.htm

EX-99.1

Document

Exhibit 99.1

Press Release

For immediate release

Greg Seals,

Investor Relations

404-439-3323

Invesco Mortgage Capital Inc. Reports First Quarter 2026 Financial Results

Atlanta - April 30, 2026 -- Invesco Mortgage Capital Inc. (NYSE: IVR) (the “Company”) today announced financial results for the quarter ended March 31, 2026.

•Net loss per common share of $0.28 compared to net income of $0.68 in Q4 2025

•Earnings available for distribution per common share(1) of $0.55 compared to $0.56 in Q4 2025

•Monthly common stock dividends totaling $0.36 per share compared to quarterly dividend of $0.36 in Q4 2025

•Book value per common share(2) of $8.08 compared to $8.72 as of December 31, 2025

•Economic return(3) of (3.2)% compared to 8.0% in Q4 2025

•Debt-to-equity ratio of 6.1x compared to 7.0x as of December 31, 2025

•Economic debt-to-equity ratio(1) of 7.5x compared to 7.0x as of December 31, 2025

Update from Kevin Collins, Incoming Chief Executive Officer

“During the first quarter of 2026, we operated in a more challenging market environment following the strong recovery in Agency MBS valuations experienced in the second half of 2025. Financial conditions deteriorated as rising geopolitical tensions, higher energy prices and renewed inflation concerns drove increased interest rate volatility and pushed U.S. Treasury yields higher across the curve. These dynamics weighed on risk assets broadly and resulted in higher coupon Agency RMBS underperformance relative to Treasuries. Although our Agency CMBS investments performed well during the quarter, the benefit was outweighed by increased Agency RMBS risk premiums and notable swap spread tightening. Book value declined by 7.3% to $8.08 at quarter end, and when combined with our monthly dividends, resulted in an economic return of (3.2)% for the quarter.

“Our economic debt-to-equity ratio increased to 7.5x as of quarter end, up from 7.0x as of December 31, 2025, reflecting the decline in our book value per common share and a more constructive outlook on Agency RMBS as we enter the second quarter. At quarter end, our $7.3 billion investment portfolio consisted of $5.2 billion Agency RMBS, $1.2 billion Agency TBA, and $0.9 billion Agency CMBS, and we maintained a sizable balance of unrestricted cash and unencumbered investments totaling $493.1 million.

“Risk sentiment has improved entering the second quarter, supported by a decline in interest rate volatility. A further de‑escalation of the Middle East conflict would likely provide additional support for risk assets. From a supply‑and‑demand perspective, Agency RMBS net issuance is expected to remain manageable, the GSEs continue to provide steady demand and bank participation is likely to increase, supported in part by recent Basel capital framework proposals that improve the relative capital efficiency of high-quality mortgage assets. Together, these macro and technical factors create a more constructive backdrop for our Agency RMBS holdings, particularly as wider spread levels relative to the prior quarter offer more attractive entry points. In addition, despite elevated supply, our Agency CMBS continues to offer attractive risk‑adjusted yields and diversification benefits, given its stable cash flow profile and lower sensitivity to interest rate fluctuations.”

(1) Earnings available for distribution (and by calculation, earnings available for distribution per common share) and economic debt-to-equity ratio are non-Generally Accepted Accounting Principles (“GAAP”) financial measures. Refer to the section entitled “Non-GAAP Financial Measures” for important disclosures and a reconciliation to the most comparable U.S. GAAP measures.

(2) Book value per common share as of March 31, 2026 and December 31, 2025 is calculated as total stockholders' equity less the liquidation preference of the Company's Series C Preferred Stock ($169.7 million as of March 31, 2026 and $171.4 million as of December 31, 2025), divided by total common shares outstanding.

(3) Economic return for the quarter ended March 31, 2026 is defined as the change in book value per common share from December 31, 2025 to March 31, 2026 of ($0.64); plus dividends declared of $0.36 per common share; divided by the December 31, 2025 book value per common share of $8.72. Economic return for the quarter ended December 31, 2025 is defined as the change in book value per common share from September 30, 2025 to December 31, 2025 of $0.31; plus dividends declared of $0.36 per common share; divided by the September 30, 2025 book value per common share of $8.41.

1

Key performance indicators for the quarters ended March 31, 2026 and December 31, 2025 are summarized in the table below.

$ in millions, except share amountsQ1 2026Q4 2025Variance

Average Balances (1) (unaudited)(unaudited)

Average earning assets (at amortized cost)$5,946.5 $5,868.9 $77.6

Average borrowings$5,367.5 $5,393.7 ($26.2)