ARR · Armour Residential REIT Q2 FY2026 earnings call record财报电话会记录

“ARMOUR's Q2 GAAP net income available to common stockholders was $111.5 million, or $0.86 per common share.”

“Distributable earnings available to common stockholders was $93.2 million or $0.72 per common share.”

“ARMOUR paid monthly common stock dividends of $0.24 per common share per month, for a total of $0.72 for the quarter.”

“We have also declared cash dividends of $0.24 per outstanding common share, payable August 28th, 2026 to the holders of record on August 17th, 2026.”

“Our estimated book value as of Monday, July 20th, was $17 per common share, which reflects the accrual of the July common dividend of $0.24 per share.”

“Historically, this combination of elevated uncertainty and a flatter yield curve has produced a meaningful headwind for mortgages.”

“On the demand side, strong inflows into bond funds from domestic and international investors continue to support Agency MBS, which remain as an attractive alternative to tightly valued corporate credit.”

“Firmer inflation, a more hawkish Fed, and a sustained rise in volatility could prompt investors to demand greater compensation for mortgage risk, pushing spreads and yields wider.”

“Scott, hoping you could talk about your outlook for capital raising, kind of tie that to your comments that on the one hand you expect kind of range-bound spreads, but kind of mindful of the risks.”

“It looks like on the hedge side of things, the swap portfolio notional increased a decent amount this quarter, and your net duration position declined a little bit.”

“Right now we are comfortable with where our leverage is, cognizant of the current risks in the market and Fed's reaction function that we still need to get better understanding of, which we will over time.”

“Obviously, the volumes are vastly higher on the common side of things.”