The earnings call reflects a cautiously optimistic outlook with strong capital management and positive returns, despite challenges in the macro environment and decreases in book value. The company has demonstrated resilience in its residential credit segment and effective cost management strategies.

Company Guidance

During the Q2 2025 Annaly Capital Management earnings call, the company reported an economic return of 0.7% for the quarter and a year-to-date economic return of 3.7%, with a total shareholder return of over 10% through the end of the quarter. The company raised over $750 million in accretive capital, primarily deployed in the agency sector, and increased leverage modestly to 5.8x. The agency portfolio grew to nearly $80 billion in market value, up 6% quarter-over-quarter, while the residential credit portfolio remained relatively unchanged at $6.6 billion. The MSR business ended the quarter with a market value of $3.3 billion. Annaly's book value per share decreased by 3% to $18.45, while earnings available for distribution increased to $0.73 per share, exceeding the quarterly dividend of $0.70. The net interest spread excluding PAA rose to 1.47% from 1.24% a year ago. The call highlighted Annaly's diversified funding strategies and optimistic outlook on continued strong risk-adjusted returns, with expectations of Fed rate cuts potentially benefiting the mortgage sector.

Positive Economic Return and Dividend Coverage

Annaly Capital Management achieved an economic return of 0.7% for Q2 2025 and has maintained positive economic returns for the past seven quarters. Earnings available for distribution were $0.73, exceeding the $0.70 dividend, indicating strong financial performance.

Strong Capital Raising and Deployment

The company raised over $750 million in accretive capital in Q2 2025, which was primarily deployed in the agency sector, increasing the leverage modestly to 5.8x.

Resilient Residential Credit Sector

Annaly's Onslow Bay platform closed $3.6 billion in securitizations in Q2 2025, with a total of $7.6 billion for the year. The platform remains the industry leader in the expanded credit correspondent channel.

Effective Cost Management and Financing Strategy

The company increased its non-mark-to-market capacity significantly from $150 million at the end of 2023 to $1.9 billion in Q2 2025, enhancing liquidity and operational flexibility.

Annaly Capital (NLY) 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

Daily Earnings Calendar >

NLY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2025 (Q3)	0.72 / -	0.66	―	―	―
Jul 23, 2025	2025 (Q2)	0.71 / 0.73	0.68	7.35% (+0.05)
Apr 30, 2025	2025 (Q1)	0.70 / 0.72	0.64	12.50% (+0.08)
Jan 29, 2025	2024 (Q4)	0.67 / 0.72	0.68	5.88% (+0.04)
Oct 23, 2024	2024 (Q3)	0.67 / 0.66	0.66	0.00% (0.00)
Jul 24, 2024	2024 (Q2)	0.65 / 0.68	0.72	-5.56% (-0.04)
Apr 24, 2024	2024 (Q1)	0.65 / 0.64	0.81	-20.99% (-0.17)
Feb 07, 2024	2023 (Q4)	0.65 / 0.68	0.89	-23.60% (-0.21)
Oct 25, 2023	2023 (Q3)	0.68 / 0.66	1.06	-37.74% (-0.40)
Jul 26, 2023	2023 (Q2)	0.74 / 0.72	1.2	-40.00% (-0.48)

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

NLY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 23, 2025	$20.45	$20.56	+0.54%
Apr 30, 2025	$18.89	$18.72	-0.90%
Jan 29, 2025	$18.40	$19.06	+3.59%
Oct 23, 2024	$17.57	$17.71	+0.80%

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 Annaly Capital Management (NLY) report earnings?

Annaly Capital Management (NLY) is schdueled to report earning on Oct 22, 2025, After Close (Confirmed).

What is Annaly Capital Management (NLY) earnings time?

Annaly Capital Management (NLY) earnings time is at Oct 22, 2025, 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 NLY EPS forecast?

NLY EPS forecast for the fiscal quarter 2025 (Q3) is 0.72.

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