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Mar 31, 2020
Invesco Mortgage Capital Q1 2020 Earnings Report
Announced financial results, which were severely impacted by market disruption associated with the COVID-19 pandemic.
Key Takeaways
Invesco Mortgage Capital Inc. reported a net loss attributable to common stockholders of $1.6 billion for Q1 2020, primarily due to net losses on derivative instruments and investments, while net interest income increased to $101.0 million due to a reduction in the average cost of funds.
The company reported a net loss attributable to common stockholders for the first quarter of 2020 of $1.6 billion compared to net income attributable to common shareholders of $106.9 million for the fourth quarter of 2019.
The first quarter of 2020 net loss attributable to common stockholders was primarily due to net losses on derivative instruments of $943.8 million and net losses on investments of $755.5 million.
The company earned net interest income of $101.0 million, up $15.0 million (17%) from $86.0 million in the fourth quarter of 2019 primarily due to a reduction in its average cost of funds to 2.07% from 2.17% during the fourth quarter of 2019.
Book value per common share for the first quarter of 2020 was $5.02 compared to $16.29 in the fourth quarter of 2019 primarily due to significant interest rate spread widening in both Agency and non-Agency assets.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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