Orchid Island Capital Q3 net loss $84.5M ($2.40/sh); book value drops to $11.42

Orchid Island Capital, Inc.

2022-Q3 EPS reported -$8.31

Net loss of $84.5M ($2.40 diluted EPS); net interest income $14.2M but realized/unrealized losses of $93.5M on RMBS and derivatives.
Book value per share fell from $14.36 (June 30) to $11.42; estimated further decline to $10.60-$10.70 as of Oct 26.
Net interest spread narrowed to 1.51% from 2.51% in Q2 as repo borrowing costs rose to 2.48% from 0.80%.
Portfolio reduced to $3.2B from $6.5B since Dec 2021; leverage 8.5x; liquidity $219.6M (54% of equity).
Corrected prior 8-K: share repurchase authorization total is 6,183,601 shares (18% of outstanding), not 5,046,499.

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