--- title: "Two Harbors Investment Corp. | 8-K: FY2026 Q2 Revenue: USD 119.59 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/294109175.md" datetime: "2026-07-28T20:22:40.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294109175.md) - [en](https://longbridge.com/en/news/294109175.md) - [zh-HK](https://longbridge.com/zh-HK/news/294109175.md) generator: "portal-rs" --- # Two Harbors Investment Corp. | 8-K: FY2026 Q2 Revenue: USD 119.59 M Revenue: As of FY2026 Q2, the actual value is USD 119.59 M. EPS: As of FY2026 Q2, the actual value is USD 0.46. EBIT: As of FY2026 Q2, the actual value is USD 157.75 M. ### Financial Performance (Three Months Ended June 30, 2026 vs. March 31, 2026) - **Comprehensive Income attributable to common stockholders**: $47.9 million, or $0.45 per weighted average basic common share, compared to - $24,714 thousand for the prior quarter . - **GAAP Net Income attributable to common stockholders**: $49,379 thousand, or $0.47 per weighted average basic common share, compared to $19,477 thousand for the prior quarter . - **Earnings Available for Distribution (non-GAAP)**: $29,600 thousand, or $0.28 per weighted average basic common share, compared to $35,756 thousand for the prior quarter . - **Book Value per Common Share**: $10.68 at period end, compared to $10.57 as of March 31, 2026 . - **Quarterly Economic Return on Book Value**: 4.3%, compared to - 2.0% for the prior quarter . - **Dividend per Common Share**: $0.34, consistent with $0.34 for the prior quarter . - **Annualized Dividend Yield**: 11.0%, compared to 11.9% for the prior quarter . ### Operational Metrics (Three Months Ended June 30, 2026 vs. March 31, 2026) - **Operating Expenses (excluding non-cash LTIP amortization and merger-related costs)**: $36,314 thousand, compared to $39,391 thousand for the prior quarter . As a percentage of average equity, these were 8.3%, compared to 8.8% for the prior quarter . - **MSR Additions**: $186.5 million in unpaid principal balance (UPB) of MSR added through flow-sale acquisitions and recapture . - **Loans Funded**: $84.0 million UPB . - **Second Lien Loans Brokered**: $48.8 million UPB . ### Portfolio Composition (As of June 30, 2026 vs. March 31, 2026) - **Aggregate Portfolio**: $7,482,349 thousand, down from $8,952,317 thousand . - **Agency RMBS**: $5,143,043 thousand (68.8% of aggregate portfolio), down from $6,568,185 thousand (73.4%) . - **Mortgage Servicing Rights (MSR)**: $2,336,324 thousand (31.2% of aggregate portfolio), down from $2,380,983 thousand (26.6%) . - **Other**: $2,982 thousand, down from $3,149 thousand . - **Net TBA Position (bond equivalent value)**: $3,814,318 thousand, up from $2,976,531 thousand . - **Total Portfolio**: $11,296,667 thousand, down from $11,928,848 thousand . ### MSR Specific Metrics (As of June 30, 2026) - **Weighted Average Gross Coupon Rate**: 3.54% . - **60+ Day Delinquency Rate**: 0.79% . - **3-Month CPR**: 6.3% . - **Unpaid Principal Balance (UPB)**: $155,106,720 thousand, down from $158,871,352 thousand as of March 31, 2026 . - **Fair Value Losses (MSR)**: - $47,239 thousand for the three months ended June 30, 2026, compared to - $44,009 thousand for the prior quarter . - **Servicing Income**: $118,350 thousand for the three months ended June 30, 2026, compared to $119,364 thousand for the prior quarter . - **Servicing Costs**: $3,229 thousand for the three months ended June 30, 2026, compared to $1,807 thousand for the prior quarter . ### Financing Summary (As of June 30, 2026 vs. March 31, 2026) - **Total Borrowings**: $6,618,284 thousand, down from $8,286,052 thousand . - **Repurchase Agreements**: $5,639,830 thousand, down from $7,245,287 thousand . - **Revolving Credit Facilities**: $862,771 thousand, down from $916,871 thousand . - **Warehouse Lines of Credit**: $4,333 thousand, down from $12,694 thousand . - **Unsecured Senior Notes**: $111,350 thousand, up from $111,200 thousand . - **Debt-to-Equity Ratio**: 3.8:1.0, down from 4.8:1.0 . - **Economic Debt-to-Equity Ratio**: 6.0:1.0, down from 6.4:1.0 . - **Annualized Cost of Financing**: 4.59% for the three months ended June 30, 2026, compared to 4.68% for the prior quarter . ### Consolidated Statements of Comprehensive Income (Loss) (Three Months Ended June 30, 2026 vs. June 30, 2025) - **Net Interest Expense**: - $6,021 thousand, an improvement from - $19,619 thousand in the prior year period . - Interest income: $83,536 thousand, down from $117,082 thousand . - Interest expense: $89,557 thousand, down from $136,701 thousand . - **Net Servicing Income**: $125,859 thousand, down from $155,968 thousand in the prior year period . - Servicing income: $129,070 thousand, down from $158,354 thousand . - Servicing costs: $3,211 thousand, up from $2,386 thousand . - **Total Other Loss**: - $245 thousand, an improvement from - $151,018 thousand in the prior year period . - Loss on investment securities: - $2,123 thousand, an improvement from - $32,830 thousand . - Loss on servicing asset: - $47,239 thousand, an increase from - $35,902 thousand . - Gain on derivative instruments: $46,678 thousand, an improvement from - $84,207 thousand . - **Total Expenses**: $51,397 thousand, a decrease from $242,711 thousand in the prior year period, primarily due to a loss contingency accrual of $199,935 thousand in the prior year . - Compensation and benefits: $23,309 thousand, up from $21,469 thousand . - Other operating expenses: $28,088 thousand, up from $21,307 thousand . - **Net Income attributable to common stockholders**: $49,379 thousand, compared to - $272,280 thousand in the prior year period . ### Outlook / Guidance Two Harbors Investment Corp. is progressing towards the closing of its merger with CrossCountry Mortgage, LLC (CCM) . Under the amended agreement, CCM will acquire all outstanding common stock for $12.00 per share and redeem preferred shares at $25.00 per share plus accumulated dividends . The merger, approved by common stockholders on July 2, 2026, is expected to close on August 3, 2026, pending remaining conditions . ### Cash Flow The provided reference does not contain information regarding operating cash flow or free cash flow . ### Related Stocks - [TWOD.US](https://longbridge.com/en/quote/TWOD.US.md) ## Related News & Research - [Binance Coin Price Prediction: Can BNB Reach $10,000 by 2030?](https://longbridge.com/en/news/296705910.md) - [Prediction: This Is Where Pfizer Stock Will Be in 2030](https://longbridge.com/en/news/296683959.md) - [Prediction: This Will Be Palantir's Stock Price by the End of 2030](https://longbridge.com/en/news/296678966.md) - [Elon Musk Says SPCX Could Reach 10,000 Starship Launches Annually by 2030: ‘Still Tiny’ Compared With Air Travel](https://longbridge.com/en/news/296572875.md) - [Gnosis to Close GIP-154 Voting on August 27th](https://longbridge.com/en/news/296681075.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**