---
schema_version: "secwatch.filing_event.v1"
accession: "0001518621-22-000108"
form_type: "8-K"
ticker: "ORC"
cik: "0001518621"
company_name: "Orchid Island Capital, Inc."
filed_at: "2022-10-27T23:59:59+00:00"
generated_at: "2026-06-23T00:01:38.532144+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001518621-22-000108
- form_type: 8-K
- ticker: ORC
- cik: 0001518621
- company_name: Orchid Island Capital, Inc.
- filed_at: 2022-10-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1518621/000151862122000108/0001518621-22-000108-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1518621/000151862122000108/orc8k20221027.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001518621-22-000108
- JSON: https://secwatch.observer/filing/0001518621-22-000108.json
- Plain text: https://secwatch.observer/filing/0001518621-22-000108.txt

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