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Armour Residential (ARR)
NYSE:ARR
Earnings Data
Report Date
Apr 29, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.78Last Year’s EPS
0.86Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted several strong operational and financial positives: a robust 10.63% Q4 total economic return, meaningful book value appreciation (+6.5% in Q4), healthy distributable earnings ($79.8M), portfolio growth (>10%) to over $20 billion, strong liquidity (~54% of equity), and improved funding conditions. Key risks were elevated prepayment speeds (CPR rising to 11.1), tighter spreads limiting incremental yield, mild dilution from ATM equity issuance, counterparty concentration in repo, and policy uncertainty around GSE actions. Overall, the favorable returns, liquidity position, and active risk management appear to outweigh the manageable headwinds, supporting a constructive outlook for 2026.Company Guidance
Strong Q4 Total Economic Return
ARMOUR reported a total economic return of 10.63% for Q4, driven by MBS spread tightening, lower MBS volatility, and a lower interest rate environment.
Solid GAAP and Non-GAAP Earnings
Q4 GAAP net income available to common stockholders was $28.7 million ($1.86 per share). Distributable earnings (non-GAAP) were $79.8 million, or $0.71 per common share. Net interest income was $50.4 million.
Book Value Appreciation
Q4 book value was $18.63 per common share, up 6.5% from September 30, 2025. The most recent estimated book value as of Feb 17, 2026 was $18.37 (after dividend accruals).
Consistent Dividend Policy
ARMOUR paid monthly common dividends of $0.24 per share ($0.72 for the quarter) and declared subsequent monthly dividends of $0.24, signaling a continued commitment to a stable, medium-term dividend.
Portfolio and Balance Sheet Growth
Portfolio grew for a second consecutive quarter, increasing by more than 10% from the end of 2025. Mortgage assets grew to over $20 billion and the company added over $3 billion of MBS pools and DUS across Q4 and early Q1.
Strong Liquidity and Moderate Leverage
Capital liquidity measured ~54% of total shareholders' equity as of January. Implied leverage (excluding treasury loans) was 7.9 turns and net balance sheet duration was 0.14 years, reflecting a conservative, front-end biased duration posture.
High Share of Prepayment- and Specified-Protected Assets
Specified MBS pools with prepayment protection comprised over 92% of the portfolio, and roughly 30% of assets are in prepayment-protected agency CMBS pools and discount MBS, indicating active prepayment risk management.
Improved Funding and Favorable Repo Conditions
Repo market conditions materially improved in 2026 versus 2025 — repo financing averaged roughly SOFR +15 bps. The weighted average haircut on the repo book was ~2.75% and roughly 80% of repo principal is financed at a 3% haircut or lower across 23 counterparties.
ARR Earnings History
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
ARR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 18, 2026 | $17.68 | $17.66 | -0.11% |
Oct 22, 2025 | $14.93 | $15.09 | +1.08% |
Jul 23, 2025 | $15.25 | $15.07 | -1.18% |
Apr 23, 2025 | $12.87 | $13.23 | +2.83% |
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 Armour Residential (ARR) report earnings?
Armour Residential (ARR) is schdueled to report earning on Apr 29, 2026, After Close (Confirmed).
What is Armour Residential (ARR) earnings time?
Armour Residential (ARR) earnings time is at Apr 29, 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 ARR EPS forecast?
ARR EPS forecast for the fiscal quarter 2026 (Q1) is 0.78.