Q3 25 EPS
$0.53
BEAT +278.57%
Est. $0.14
Q3 25 Revenue
$26.9M
BEAT +6.27%
Est. $25.3M
vs S&P Since Q3 25
-19.5%
TRAILING MARKET
ORC -5.3% vs S&P +14.2%
Market Reaction
Did ORC Beat Earnings? Q3 2025 Results
Orchid Island Capital delivered a blowout third quarter, posting GAAP earnings of $0.53 per share against a consensus estimate of just $0.14, a 278.57% beat, while revenue climbed to $26.92 million, up 24.7% year over year and 6.27% ahead of the $25.… Read more Orchid Island Capital delivered a blowout third quarter, posting GAAP earnings of $0.53 per share against a consensus estimate of just $0.14, a 278.57% beat, while revenue climbed to $26.92 million, up 24.7% year over year and 6.27% ahead of the $25.33 million estimate. The driving force behind the outsized result was a combination of portfolio expansion and mark-to-market gains, with net realized and unrealized gains on RMBS and derivatives totaling $50.60 million as the agency pass-through market benefited from broadly stable rates and Federal Reserve easing expectations. The average interest rate spread widened dramatically to 1.20% from a negative (0.19)% in the year-ago quarter, and the total RMBS portfolio surged to $8.36 billion from $6.99 billion at the end of June, fueled by $420.17 million in equity issuances. Book value per share edged up to $7.33, delivering a 6.7% total return for the quarter when factoring in dividends, making ORC a compelling name among high-yielding monthly income investments. CEO Robert Cauley signaled room to increase leverage further if market conditions become more favorable.
Key Takeaways
- • Supportive market conditions for leveraged Agency RMBS investors with stable interest rates
- • Average yield on Agency RMBS increased to 5.65% from 5.38% in Q2 2025
- • Net realized and unrealized gains of $50.6 million on RMBS and derivative instruments
- • Significant portfolio growth through $1.5 billion in securities purchases during the quarter
- • Average interest rate spread widened to 1.20% from negative spread in prior year
- • Average economic interest rate spread of 2.40%
- • Combined portfolio return on invested capital of 9.8% for the quarter
ORC YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
ORC Revenue by Segment
With YoY comparisons, source: SEC Filings
“Market conditions during the quarter were supportive for levered Agency RMBS investors such as Orchid Island Capital. Interest rates were quite stable outside of short-term rates, which declined in anticipation of additional interest rate cuts beyond the 25-basis point cut that occurred in September. Orchid generated a total return for the quarter of 6.7%, unannualized.”
— Robert E. Cauley, Q3 2025 Earnings Press Release
ORC Earnings Trends
ORC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ORC EPS Trend
Earnings per share: estimate vs actual
ORC Revenue Trend
Quarterly revenue: estimate vs actual
ORC Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $0.29 | $0.44 | +50.02% | $96.0M | +71.07% |
| Q4 25 BEAT FY | $0.19 | $0.62 | +235.14% | $132.2M | +269.88% |
| FY Full Year | $0.69 | $1.24 | +81.02% | $414.0M | +292.31% |
| Q3 25 BEAT | $0.14 | $0.53 | +278.57% | $26.9M | +6.27% |
| Q2 25 MISS | $0.12 | $-0.29 | -348.50% | $23.2M | -0.43% |
| Q1 25 BEAT | $0.17 | $0.18 | +5.88% | $21.3M | +78.57% |