Two Harbors (TWO)
NYSE:TWO
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Earnings Data
Report Date
Aug 05, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.27Last Year’s EPS
0.28Same Quarter Last Year
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced meaningful near-term challenges—quarterly mark-to-market losses, a comprehensive loss of $24.7M and a decline in book value—with material strategic and operational positives: a definitive cash merger (increased to $11.30/share) providing shareholder certainty, strong MSR performance and market demand, solid liquidity and improved risk metrics. While RMBS market volatility and spread widening pressured the securities sleeve this quarter, the company highlighted durable MSR economics, an improving origination platform, and an attractive prospective return profile. On net, the strategic certainties and operational strengths (especially MSR and the merger) outweigh the quarterly performance headwinds.Company Guidance
Definitive Cash Merger with CrossCountry (Increased Consideration)
Board executed a merger agreement with CrossCountry Mortgage; amended consideration increased from $10.80 to $11.30 per share in cash. Transaction expected to close in H2 2026, not subject to a financing condition; special shareholder meeting set for May 19 and Board unanimously recommends the transaction.
Strong MSR Performance and Market Demand
Hedged MSR strategy performed 'extremely well' in the quarter. Added $152 million UPB of MSR via flow and recapture; MSR price multiple rose to 5.9x; 60+ day delinquencies remained under 1%. MSR market activity robust with servicing transfers topping $93 billion UPB in Q1.
DTC / Origination Platform Progress
DTC platform funded $92 million in first and second liens (roughly flat vs. Q4) and brokered $38 million in second liens, with an additional $57 million pipeline at quarter end — signaling continued origination traction ahead of the merger.
Healthy Liquidity and Debt Repayment
Ended the quarter with over $500 million of cash. Repaid $261.9 million of convertible senior notes on maturity (Jan 15, 2026). RMBS funding markets remained available with repo spreads around SOFR +15–18 bps and weighted average repo maturity of 71 days.
Portfolio Size and Risk Metrics
Total portfolio of $11.9 billion ($8.9B settled positions, $3.0B TBAs). Economic debt-to-equity improved to 6.4x and portfolio sensitivity to a 25 bp spread tightening decreased from 3.7% to 3.2%, reflecting lower aggregate interest rate risk positioning.
Forward Return Outlook
Static return estimates: servicing capital (~65% allocation) 11%–14%; securities 11%–15%. Portfolio static return estimated 8%–11.4% before leverage; prospective common equity static return 7.3%–12.9% (quarterly static return per share $0.19–$0.34).
Quarter-to-Date Book Value Recovery
Management reported book value quarter-to-date performance was positive, up about 2% after the quarter-end decline.
TWO 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
TWO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 28, 2026 | $11.01 | ― | ― |
Feb 02, 2026 | $11.49 | $11.45 | -0.34% |
Oct 27, 2025 | $9.22 | $9.22 | 0.00% |
Jul 28, 2025 | $9.37 | $9.15 | -2.33% |
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 Two Harbors (TWO) report earnings?
Two Harbors (TWO) is schdueled to report earning on Aug 05, 2026, After Close (Confirmed).
What is Two Harbors (TWO) earnings time?
Two Harbors (TWO) earnings time is at Aug 05, 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 TWO EPS forecast?
TWO EPS forecast for the fiscal quarter 2026 (Q2) is 0.27.