Two Harbors Q1 2023 comprehensive loss of $63.2M; book value falls to $16.48

TWO HARBORS INVESTMENT CORP.

2023-Q1 EPS reported -$2.05

Comprehensive loss of $63.2M or $(0.69) per diluted share; GAAP net loss of $189.2M ($2.05).
Book value per share fell 7% to $16.48 from $17.72; quarterly economic return of (3.6)%.
Earnings available for distribution (EAD) of $8.3M ($0.09); income ex-market changes (IXM) of $0.59 per share.
Issued 10M common shares for net proceeds ~$175.6M to fund MSR acquisitions; acquired $10.7B UPB of MSR.
Net spread narrowed to 0.52% (Q4'22: 0.97%) as portfolio yield rose to 5.09% but cost of financing rose to 4.57%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TWO HARBORS INVESTMENT CORP. reported the quarter ended March 31, 2023 results: net income Incurred a Comprehensive Loss of $63.2 million, or $(0.69) per weighted average basic common share..

Period: the quarter ended March 31, 2023
Net income: Incurred a Comprehensive Loss of $63.2 million, or $(0.69) per weighted average basic common share.
Result: reported results

Exact text from the filing

On May 1, 2023, Two Harbors Investment Corp. issued a press release announcing its financial results for the fiscal quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0001465740-23-000082

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