Chimera Investment Corp (LTS:0A7B)

Q2 2026 Chimera Investment Corp Earnings Call Transcript

Aug 5, 2026 / 12:30 PM GMT

Release Date Price: $11.75 (-7.26%)

Transcript 8-K

Key Points

Positve

Chimera Investment Corp (CIM) generated $0.46 of EAD per share in Q2 2026, exceeding its $0.45 quarterly dividend and aligning with its projected underlying run rate.
Home Express delivered record quarterly loan origination volume of $1.1 billion, up 30% year-over-year and 24% sequentially, with a monthly record of $420 million in June.
The company completed two resecuritizations that improved financing efficiency, released approximately $13 million of capital for reinvestment, and increased the advance rate on its collateral.
Credit performance improved across key portfolios, with delinquencies in the legacy reperforming book declining from 9.1% to 8.8% and investor DSCR loan delinquencies falling from 6.1% to 4.7%.
Management reaffirmed its full-year 2026 EAD guidance of at least $1.80 per share, supported by a strong first-half performance of $1.00 per share.
The company is strategically pivoting to acquire and securitize mortgage loans from both Home Express and third parties, targeting two Home Express securitizations and one third-party transaction by year-end.

Negative

Chimera Investment Corp (CIM) reported a GAAP net loss of approximately $4 million for Q2 2026, driven by a $13 million loss in its investment portfolio segment.
Book value per share declined 3.2% to $17.75 during the quarter, primarily due to a sharp repricing of monetary policy expectations and higher Treasury yields.
Home Express earnings grew only modestly quarter-over-quarter despite higher production, due to margin compression from increased competition and tighter pricing.
The company experienced a reduction in third-party fee revenue at Palisades Advisory Services due to increased competition and lower transaction activity from clients.
Market volatility and a higher-for-longer rate outlook have created an uncertain environment, with the company noting that rate cuts initially expected for 2026 have given way to talks of potential hikes.
The company's GAAP leverage increased to 5.6-to-1, driven by resecuritization activity and a growing allocation to agency RMBS, which also pushed recourse leverage higher.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CIM.N - Chimera Investment Corporation
Q2 2026 Chimera Investment Corp Earnings Call
Aug 05, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the Chimera Investment Corporation second quarter earnings call.

At this time, all participants are in a listen-only mode.

A question-and-answer session will follow the formal presentation.

If anyone should require operator assistance during the conference, please press 0 on your telephone keypad.

Please note this conference is being recorded.

I will now turn the conference over to Tyre Walton, head of IR.

Thank you.

You may begin.

Thank you, operator, and thank you everyone for joining us this morning.

I'm Tara Walton, head of Investor relations.

This morning, Chimera released its results for the

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