| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 1.7K | 31.0% |
| Total Income | 1.7K | 31.0% |
| Expenditure | 1.4K | 21.9% |
| PBT | 289.00 | 108.6% |
| Net Profit | 282.65 | 127.5% |
| OPM | — | |
| NPM | 16.39% | 6.95pp |
| EPS | 0.33 | 120.0% |
Annaly Capital Management Reports Q1 2026 Results
22 Apr 2026 · 22 Apr, 1:35 am
Summary
Annaly Capital Management announced its financial results for the quarter ended March 31, 2026. The company reported GAAP net income of $0.33 per average common share and earnings available for distribution of $0.76 per average common share. The economic return for the quarter was 1.5%, and the book value per common share was $19.82. The company's total portfolio reached $106.7 billion, including a $92.2 billion Agency portfolio. CEO David Finkelstein noted the company's ability to deliver superior risk-adjusted returns and highlighted the growth in the Residential Credit and MSR portfolios.
Key Highlights
- 1
Annaly Capital Management reported GAAP net income of $0.33 per average common share for the first quarter of 2026.
- 2
Earnings available for distribution (EAD) were $0.76 per average common share for the quarter.
- 3
The company's economic return was 1.5% for the first quarter.
- 4
Book value per common share stood at $19.82.
- 5
GAAP leverage increased to 7.3x, up from 7.2x in the prior quarter, while economic leverage rose to 5.7x, up from 5.6x.
- 6
A common stock cash dividend of $0.70 per share was declared for the first quarter.
- 7
The total portfolio amounted to $106.7 billion, including $92.2 billion in the highly liquid Agency portfolio.
Management Comments
David Finkelstein
The first quarter of 2026 marked Annaly’s tenth consecutive quarter of positive economic returns as our diversified housing finance platform further demonstrated its ability to deliver superior risk-adjusted returns across a range of market environments. Earnings again exceeded our dividend, and we grew the portfolio through accretive capital raising and disciplined portfolio management.
David Finkelstein
During the first quarter, we increased our capital allocation to our non-Agency businesses considerate of compelling relative value. Our Residential Credit portfolio expanded 30% driven by another quarter of record whole loan production, while continuing our programmatic pace of securitization. Our MSR portfolio also grew nearly 10% as we capitalized on opportunities in the bulk and flow markets, leveraging our strong industry relationships. At the same time, our flagship Agency MBS business performed well with technical factors among the most supportive we have seen in years, bolstered by a disciplined leverage and liquidity profile. Looking ahead, we see attractive investment opportunities across our three strategies and believe Annaly remains well-positioned to deliver sustainable value for our shareholders.
Informational and educational content only. Not investment advice.