Annaly Capital Mgmt

Q3 FY2026 EarningsQ3 FY26 results presented a significant disconnect between GAAP and core earnings: GAAP net loss of ($1.36) per share missed the $0.35 mean consensus by a wide margin, driven by $4.7B in investment losses amid market volatility. However, Earnings Available for Distribution (EAD) of $0.80 beat the $0.77 normalized EPS consensus, supporting the $0.75 dividend. Book Value per share of $17.86 missed the $19.29 consensus, representing a 7.6% negative economic return for the quarter.