Two Harbors Q3 comprehensive loss $287.8M; book value falls 16.2% to $16.42

TWO HARBORS INVESTMENT CORP.

2022-Q3 EPS reported $4.80

Comprehensive loss of $287.8M ($3.35 per share); book value declined 16.2% to $16.42 per share.
Earnings available for distribution (EAD) of $55.2M ($0.64 per share) vs $0.68 dividend declared.
GAAP debt-to-equity rose to 5.5x from 3.8x; economic debt-to-equity to 7.5x from 6.4x.
Sold ~$20B UPB of MSR during quarter; post-quarter repurchased ~2.9M preferred shares adding $0.26 to BV.
Effective Nov 1, 2022, completed 1-for-4 reverse stock split; convertible note conversion rate adjusted to 33.8752 shares per $1,000 principal.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

TWO HARBORS INVESTMENT CORP. reported the quarter ended September 30, 2022 results: net income Comprehensive Loss of $287.8 million, or $(3.35) per weighted average basic common share.

Period: the quarter ended September 30, 2022
Net income: Comprehensive Loss of $287.8 million, or $(3.35) per weighted average basic common share
Result: reported results

Exact text from the filing

On November 8, 2022, Two Harbors Investment Corp. issued a press release announcing its financial results for the fiscal quarter ended September 30, 2022.

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TWO HARBORS INVESTMENT CORP. filing history →

Source: SEC EDGAR

accession 0001465740-22-000075

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