Orchid Island Capital (ORC) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 23, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.26

Last Year’s EPS

0.16

Same Quarter Last Year

Analyst Consensus

Hold

Based on 1 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Jan 29, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presented a predominately positive operational and financial picture: strong Q4 earnings and EPS growth, significant balance-sheet and portfolio expansion executed when spreads were wide, materially improved expense ratio and funding costs, and disciplined hedging and liquidity management. The management team also acknowledged and is actively managing headwinds — notably elevated prepayment speeds (especially on higher coupons), short-term funding volatility at year-end, and policy/technical uncertainty related to potential GSE activity — which could moderate near-term earnings. On balance the positives (growth, earnings, improved costs, and defensive positioning) outweigh the risks discussed.

Company Guidance

Management guided a defensive-but-constructive outlook: Q4 results included $103.4M net income ($0.62/share), book value $7.54 (up from $7.33), shareholders’ equity ~ $1.4B, Q4 dividend of $0.36 (12¢/month) and total return of 7.8% (vs 6.7% in Q3); the company ended Q4 with average MBS of $9.5B (actual balance $10.6B, ~27% QoQ growth), leverage 7.4%, liquidity 57.7% (vs 57.1% Q3), and prepayment speeds of 15.7% (10.1% Q3). Portfolio & funding guidance: purchases in Q4 totaled $3.2B of specified pools (≈$892M Fannie 5s, $1.5B 5.5s, $600M 6s, $283M 6.5s) at modeled yields in the low-5% range, WA coupon rose to ~5.64, OAS for 5–6.5s tightened to ~50–60 bps, and the firm noted 75% of $7.4B of 2025 acquisitions occurred when spreads averaged ~108 bps; funding costs improved (repo rates fell from 4.33% to 3.98%, SOFR in the mid-3.6s, repo spreads trending to ~14 bps) and the company expects repo funding to turnover around a ~3.8% rate. Risk positioning/guidance: hedges equal ~69% of repo notional, DVO1 rose from 122k at 12/31 to ~178k, portfolio duration is low (~2.08) with a small positive duration gap (~0.17 currently), the firm added ~$950M pay-fixed swaps ($800M 3y, $90M 5y, $75M 7y) and TBA shorts in 5–6.5 coupons, expects prepayment speeds to moderate (improving carry), sees potential for further MBS tightening if GSE activity/technicals persist but is positioned defensively for a bear‑steepening/rate shock, and reiterated a 2025 expense ratio of ~1.7% with continued discipline on G&A.

Strong Quarterly Earnings and EPS Growth

Net income for Q4 was $103.4 million, equating to $0.62 per share versus $0.53 in Q3 (≈+17% QoQ). Total return for the quarter was 7.8% (vs. 6.7% in Q3).

Book Value and Equity Growth

Book value increased to $7.54 at quarter-end from $7.33 at the end of Q3 (+$0.21, ≈+2.9%). Stockholders' equity ended Q4 at approximately $1.4 billion.

Material Portfolio and Balance Sheet Growth

Average MBS holdings rose to $9.5 billion (actual balance $10.6 billion), up from $7.7 billion in Q3 — approximately +27% growth in quarter. Company roughly doubled in size over 2025 (shareholders' equity and total assets +~100% year-over-year).

Disciplined, Well-Timed Acquisitions

Q4 purchases of agency specified pools totaled $3.2 billion (breakdown: $892M Fannie 5s; $1.5B Fannie 5.5s; $600M Fannie 6s; $283M Fannie 6.5s). Over ~2025 they completed $7.4B of acquisitions with ~75% executed when a Morgan Stanley spread index was >100 bps (weighted average spread at time of acquisitions ~108 bps), enhancing long-term return potential.

Improved Funding Costs and Liquidity

Average repo rate declined from 4.33% at the start of the quarter to 3.98% at quarter-end (−35 bps). Liquidity remained high (57.7% at quarter-end vs. 57.1% in Q3) aided by lower haircuts (~4%). Post-quarter SOFR settled in the ~3.63–3.65% range and repo spreads have trended toward ~14 bps, implying an expected repo roll yield around ~3.8% in coming months.

Lower Expense Ratio / Operating Leverage

G&A (including management fee) as a percentage of shareholders' equity ran at ~1.7% for 2025 — materially lower than the >5% peak during the tightening cycle and below the pre-COVID highs. Non-management expenses rose only modestly despite the business doubling in size, improving operating leverage.

Defensive Portfolio Positioning and Hedging

Portfolio duration remained low (≈2.08) and duration gap tightened to ~+0.17 years (from negative earlier), reflecting a shift to higher coupon, lower-duration pools. Hedge notional remained stable; 69% of outstanding repo was hedged (vs. 70% Q3). Net additions to pay-fixed swaps totaled roughly $950M (predominantly 3-year pay-fixed) to protect against downside rate scenarios.

Dividend Coverage and Distribution Policy

Monthly dividend maintained at $0.12 (quarterly $0.36). For 2025 ~95% of dividends were derived from taxable income (≈5% return of capital), indicating the company distributed substantially all taxable income while maintaining the dividend.

Orchid Island Capital (ORC) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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ORC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 23, 2026	2026 (Q1)	0.26 / -	0.16	―	―	―
Jan 29, 2026	2025 (Q4)	0.23 / 0.19	0.05	280.00% (+0.14)
Oct 15, 2025	2025 (Q3)	0.22 / 0.16	-0.05	420.00% (+0.21)	―	―
Jul 24, 2025	2025 (Q2)	0.15 / 0.16	-0.09	277.78% (+0.25)
Apr 24, 2025	2025 (Q1)	0.12 / 0.16	-0.12	233.33% (+0.28)
Jan 30, 2025	2024 (Q4)	>-0.01 / 0.05	-0.13	138.46% (+0.18)
Oct 24, 2024	2024 (Q3)	-0.07 / -0.05	-0.28	82.14% (+0.23)
Jul 25, 2024	2024 (Q2)	-0.07 / -0.09	-0.34	73.53% (+0.25)
Apr 25, 2024	2024 (Q1)	-0.09 / -0.12	-0.24	50.00% (+0.12)
Feb 01, 2024	2023 (Q4)	-0.25 / -0.13	-0.09	-44.44% (-0.04)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

ORC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 29, 2026	$8.15	$7.80	-4.29%
Oct 15, 2025	$6.81	$6.84	+0.54%
Jul 24, 2025	$6.50	$6.60	+1.51%
Apr 24, 2025	$5.87	$6.16	+5.06%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Orchid Island Capital (ORC) report earnings?

Orchid Island Capital (ORC) is schdueled to report earning on Apr 23, 2026, After Close (Confirmed).

What is Orchid Island Capital (ORC) earnings time?

Orchid Island Capital (ORC) earnings time is at Apr 23, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is ORC EPS forecast?

ORC EPS forecast for the fiscal quarter 2026 (Q1) is 0.26.