---
schema_version: "secwatch.filing_event.v1"
accession: "0001465740-23-000082"
form_type: "8-K"
ticker: "TWO"
cik: "0001465740"
company_name: "TWO HARBORS INVESTMENT CORP."
filed_at: "2023-05-01T23:59:59+00:00"
generated_at: "2026-06-16T04:52:24.426611+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001465740-23-000082
- form_type: 8-K
- ticker: TWO
- cik: 0001465740
- company_name: TWO HARBORS INVESTMENT CORP.
- filed_at: 2023-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1465740/000146574023000082/0001465740-23-000082-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1465740/000146574023000082/two-20230501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001465740-23-000082
- JSON: https://secwatch.observer/filing/0001465740-23-000082.json
- Plain text: https://secwatch.observer/filing/0001465740-23-000082.txt

## Key facts
- Earnings Releases
  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
  source text: On May 1, 2023, Two Harbors Investment Corp. issued a press release announcing its financial results for the fiscal quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1465740/000146574023000082/0001465740-23-000082-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.