ORC Q4 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025

Earnings

Orchid Island Capital delivered a blowout fourth quarter for fiscal 2025, posting earnings per share of $0.62 that left the $0.23 consensus estimate behind by 165.75%, while revenue of $132.19 million nearly doubled year-over-year, rising 97.6% as th… Read more Orchid Island Capital delivered a blowout fourth quarter for fiscal 2025, posting earnings per share of $0.62 that left the $0.23 consensus estimate behind by 165.75%, while revenue of $132.19 million nearly doubled year-over-year, rising 97.6% as the company's aggressive portfolio expansion paid off. The single most decisive driver was a combination of $70.74 million in net realized and unrealized gains on RMBS and derivative instruments alongside $38.48 million in net interest income, fueled by a widening net interest spread from 1.20% in Q3 to 1.43% in Q4 as borrowing costs fell. The quarter also reflected a near-doubling of the Agency RMBS portfolio, which grew from an average of $7.7 billion in Q3 to $9.5 billion in Q4, supported by substantial at-the-market equity issuances that pushed shares outstanding to nearly 182 million. Looking ahead, management acknowledged that Agency RMBS spreads have tightened further following new GSE purchase allowances, but noted the company's reduced expense ratio of approximately 1.7% of equity is positioned to support returns, and Orchid has already declared its February 2026 monthly dividend of $0.12 per share.