Angel Oak Mortgage REIT

Q2 FY2026 EarningsQ2 FY2026 results showed significant top and bottom-line misses relative to consensus, with GAAP EPS of $0.14 missing the $0.28 expectation by 50%. Total interest income grew 18% YoY to $41.4M, but substantial unrealized losses of $5.2M on the portfolio pressured GAAP net income. Despite the GAAP miss, Distributable Earnings of $0.37 per share significantly outperformed consensus, supported by an 8% YoY increase in Net Interest Income and strategic portfolio recycling into higher-yielding non-QM loans.