Orchid Island Capital Q3 net loss $80.1M ($1.68/share); book value down $2.24 to $8.92

Orchid Island Capital, Inc.

Net loss of $80.1M, or $1.68 per share, driven by $66.9M in realized/unrealized losses on RMBS and derivatives.
Book value per share fell 20% to $8.92 from $11.16 at June 30, 2023.
Net interest spread improved to -0.93% from -1.07% in Q2, but portfolio yield (4.51%) still below funding cost (5.49%).
Adjusted leverage ratio 9.5x; liquidity $163.7M; ATM program raised $129.8M gross YTD through Sep 30.
Management reduced lower-coupon RMBS and increased hedges post-quarter to preserve liquidity amid market volatility.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Orchid Island Capital, Inc. reported financial results for the three month period ended September 30, 2023.

Period: the three month period ended September 30, 2023
Result: reported results

Exact text from the filing

On October 26, 2023, Orchid Island Capital, Inc. (the “Company”) issued the press release attached hereto as Exhibit 99.1 announcing the Company’s results of operations for the period ended September 30, 2023.

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Source: SEC EDGAR

accession 0001437749-23-029124

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