EPS: As of FY2025 Q2, the actual value is USD -0.17.<h3>Segment Revenue</h3><ul><li>Agency RMBS: $73.3 billion as of June 30, 2025, up from $65.5 billion as of December 31, 2024.</li><li>TBA Securities: $8.3 billion as of June 30, 2025, up from $6.9 billion as of December 31, 2024.</li><li>CRT, Non-Agency RMBS, and CMBS: $0.7 billion as of June 30, 2025, down from $0.9 billion as of December 31, 2024.</li><li>Other Mortgage Credit Investments: $66 million as of June 30, 2025, up from $64 million as of December 31, 2024.</li></ul><h3>Operational Metrics</h3><ul><li>Net Income (Loss): - $140 million for the three months ended June 30, 2025, compared to - $48 million for the same period in 2024.</li><li>Net Income (Loss) Available to Common Stockholders: - $178 million for the three months ended June 30, 2025, compared to - $80 million for the same period in 2024.</li><li>Net Income (Loss) Per Common Share - Basic: - $0.17 for the three months ended June 30, 2025, compared to - $0.11 for the same period in 2024.</li><li>Net Income (Loss) Per Common Share - Diluted: - $0.17 for the three months ended June 30, 2025, compared to - $0.11 for the same period in 2024.</li></ul><h3>Cash Flow</h3><ul><li>Net Cash Provided by Operating Activities: $372 million for the six months ended June 30, 2025, compared to $0 for the same period in 2024.</li><li>Net Cash Used in Investing Activities: - $9,171 million for the six months ended June 30, 2025, compared to - $6,479 million for the same period in 2024.</li><li>Net Cash Provided by Financing Activities: $8,900 million for the six months ended June 30, 2025, compared to $6,614 million for the same period in 2024.</li></ul><h3>Unique Metrics</h3><ul><li>Weighted Average Yield on Investment Securities: 4.92% as of June 30, 2025, up from 4.77% as of December 31, 2024.</li><li>Average Projected Life CPR: 7.8% as of June 30, 2025, down from 8.3% as of March 31, 2025.</li><li>Actual CPRs: 8.7% for the quarter ended June 30, 2025, up from 7.0% for the first quarter of 2025.</li></ul><h3>Future Outlook and Strategy</h3><h4>Core Business Focus</h4><ul><li>Capital Deployment: Raised $799 million of accretive capital through the At-the-Market offering program during the second quarter of 2025, with slightly less than half deployed into higher-coupon specified pools with favorable prepayment attributes.</li><li>Leverage: Tangible ‘at risk’ leverage of 7.6x as of June 30, 2025, compared to 7.5x as of March 31, 2025.</li><li>Liquidity: Substantial liquidity position of $6.4 billion in unencumbered cash and Agency RMBS, representing 65% of tangible equity, up from 63% as of the first quarter of 2025.</li></ul><h4>Non-Core Business</h4><ul><li>Hedge Performance: Longer-dated Treasury-based hedges outperformed shorter-term swap-based hedges amid the steepening yield curve.</li><li>Interest Rate Hedges: Interest rate hedges equaled 89% of the outstanding balance of repurchase agreements used to fund the investment portfolio, TBA position, and other debt as of June 30, 2025, compared to 91% as of March 31, 2025.</li><li>Duration Gap: 0.2 years at quarter-end, compared to 0.4 years as of March 31, 2025.</li></ul><h4>Priority</h4><ul><li>Net Spread and Dollar Roll Income: Decreased by $0.06 to $0.38 per common share for the second quarter of 2025, primarily due to the timing of capital deployment and moderately higher swap costs.</li></ul><h3>Outlook</h3><ul><li>Agency RMBS Performance: Anticipated bank regulatory reforms expected to drive increased bank demand, improved supply dynamics, and persistently high mortgage rates expected to temper prepayment activity.</li><li>Government Commitment: Statements from key policymakers reaffirming the government’s commitment to preserving the credit quality of Agency RMBS and maintaining stability in the mortgage market amid potential GSE reform.</li><li>Constructive Backdrop: Stabilizing spreads at historically wide levels, manageable supply, anticipated regulatory reforms, and reduced risk of adverse consequences of GSE reform provide a highly constructive backdrop for Agency RMBS as a fixed income asset class.</li></ul>

AGNC Investment Pref Share AGNC 6.5 Prep 10/15/24 E | 10-Q: FY2025 Q2 EPS: USD -0.17