Invesco Mortgage Capital Inc. released its third-quarter 2026 financial results on October 29, 2026, reporting a net loss per common share of $0.92 and a book value decline to $6.74 per share.

Key Highlights

  • Net loss per common share: ($0.92) for Q3 2026, compared to net income of $0.34 in Q2 2026.
  • Book value per common share: $6.74 as of September 30, 2026, down from $8.03 as of June 30, 2026, a decline of $1.29.
  • Economic return: (11.6)% for Q3 2026, compared to 3.8% in Q2 2026.
  • Earnings available for distribution (non-GAAP): $0.47 per common share, compared to $0.50 in Q2 2026.
  • Monthly common stock dividends: totaling $0.36 per share for the quarter, unchanged from Q2 2026.
  • Economic debt-to-equity ratio (non-GAAP): 8.3x, up from 7.5x as of June 30, 2026.
  • Total investment portfolio including TBAs: $7,966,890 thousand as of September 30, 2026, down from $8,150,931 thousand as of June 30, 2026.

Invesco Mortgage Capital's Q3 2026 Results: Book Value Drop and Wider Spreads

According to the filing, Invesco Mortgage Capital Inc. (NYSE:IVR) reported a net loss attributable to common stockholders of ($98.8) million for the quarter ended September 30, 2026, compared to net income of $31.8 million in Q2 2026. Basic and diluted loss per common share were both ($0.92). Total interest income rose to $99.0 million from $85.4 million in the prior quarter, while total interest expense increased to $65.0 million from $55.3 million, resulting in net interest income of $33.9 million versus $30.1 million in Q2 2026.

The company disclosed that book value per common share fell 16.1% to $6.74 at quarter end, calculated as total stockholders' equity less the liquidation preference of the Series C Preferred Stock ($168.1 million as of September 30, 2026), divided by total common shares outstanding. The economic return of (11.6)% reflects the $1.29 decline in book value per share combined with $0.36 in dividends declared, divided by the June 30, 2026 book value of $8.03, as defined in the filing. The debt-to-equity ratio increased to 7.6x from 6.3x.

The filing noted that the investment portfolio as of September 30, 2026 consisted of $6,625,817 thousand in Agency RMBS (30-year fixed-rate pass-through), $681,179 thousand in Agency CMBS, and $659,894 thousand in total Agency TBAs at implied market value, with no Agency CMO holdings at quarter end. The company also disclosed unrestricted cash and unencumbered investments totaling $401.3 million. Chief Executive Officer Kevin Collins stated in the filing that "financing markets remained orderly despite elevated market volatility" and that the company reduced its Agency CMBS allocation during the latter part of the quarter, redeploying proceeds into Agency RMBS. Earnings available for distribution and economic debt-to-equity ratio are described in the filing as non-GAAP financial measures.

What Was Disclosed

Invesco Mortgage Capital disclosed Q3 2026 financial results including a net loss of ($0.92) per common share, a book value decline to $6.74, an economic return of (11.6)%, and a total investment portfolio of approximately $7.97 billion including TBAs, as of September 30, 2026.