Revenue: As of FY2026 Q2, the actual value is USD 85.41 M.

EPS: As of FY2026 Q2, the actual value is USD 0.34, missing the estimate of USD 0.3467.

EBIT: As of FY2026 Q2, the actual value is USD 35 M.

Net Income

In the second quarter of 2026, Invesco Mortgage Capital Inc. reported a net income attributable to common stockholders of $31.8 million, a significant improvement from a net loss of - $23.1 million in Q1 2026. The company also reported a net income of $35.0 million compared to a net loss of - $19.9 million in Q1 2026. For the six months ended June 30, 2026, net income attributable to common stockholders was $8.7 million, compared to a net loss of - $10.3 million for the same period in 2025.

Earnings Available for Distribution (non-GAAP)

Earnings available for distribution were $47.1 million in Q2 2026, up from $44.7 million in Q1 2026. For the six months ended June 30, 2026, earnings available for distribution totaled $91.8 million, an increase from $78.2 million in the same period of 2025.

Total Interest Income

Total interest income increased to $85.4 million in Q2 2026 from $79.6 million in Q1 2026. For the six months ended June 30, 2026, total interest income was $165.0 million, up from $144.5 million in the prior year period.

Total Interest Expense

Total interest expense was $55.3 million in Q2 2026, compared to $52.6 million in Q1 2026. For the six months ended June 30, 2026, total interest expense was $107.9 million, similar to $107.9 million in the prior year period.

Net Interest Income

Net interest income rose to $30.1 million in Q2 2026 from $27.0 million in Q1 2026. For the six months ended June 30, 2026, net interest income was $57.1 million, an increase from $36.6 million in the prior year period.

Total Expenses

Total expenses were $5.5 million in Q2 2026, up from $4.9 million in Q1 2026. For the six months ended June 30, 2026, total expenses were $10.3 million, compared to $9.5 million in the prior year period.

Economic Return

The economic return for Q2 2026 was 3.8%, a notable improvement from -3.2% in Q1 2026.

Book Value per Common Share

Book value per common share was $8.03 as of June 30, 2026, slightly down from $8.08 as of March 31, 2026.

Debt-to-Equity Ratio

The debt-to-equity ratio was 6.3x as of June 30, 2026, an increase from 6.1x as of March 31, 2026. The economic debt-to-equity ratio remained unchanged at 7.5x for both periods.

Average Earning Assets

Average earning assets (at amortized cost) increased to $6,631.0 million in Q2 2026 from $5,946.5 million in Q1 2026.

Average Borrowings

Average borrowings increased to $5,927.7 million in Q2 2026 from $5,367.5 million in Q1 2026.

Unrestricted Cash and Unencumbered Investments

The company maintained a balance of $548.3 million in unrestricted cash and unencumbered investments.

Portfolio Composition

As of June 30, 2026, the total investment portfolio, including TBAs, was $8,150.9 million. This included $6.0 billion in Agency RMBS, $1.2 billion in Agency TBA, and $0.9 billion in Agency CMBS.

Capital Activities

Monthly common stock dividends totaled $0.36 per share, unchanged from Q1 2026. A Series C Preferred Stock dividend of $0.46875 per share was also declared. Invesco Mortgage Capital Inc. issued 14,847,506 shares of common stock for net proceeds of $118.0 million through its at-the-market program during Q2 2026. The company repurchased and retired 47,222 shares of Series C Preferred Stock with a carrying value of $1.1 million during Q2 2026.

Outlook

The outlook for Agency RMBS and Agency CMBS remains constructive, with compelling valuations due to moderated interest rate volatility and inflation expectations. Favorable supply and demand dynamics, coupled with attractive risk-adjusted yields and diversification benefits for Agency CMBS, are expected to support the investment strategy into the second half of 2026.