CHIMERA INVESTMENT CORP 8-K
PositiveEarnings
HomeXpress contributes its first full quarter as Residential Origination volume grows; management raises the 2026 common dividend.
Filed 2026-02-11 06:46 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q4 and FY2025 results with a higher 2026 dividend. Chimera reported positive Q4 earnings available for distribution and higher FY common-shareholder earnings; the quarter included the first full period of HomeXpress contributions. It raised the common dividend to $0.45 per share for Q1 2026 and expects to maintain that rate for the rest of the year.
Key Figures
| Metric | Q4 2025 | Q4 2024 | Y/Y |
|---|---|---|---|
| Net income available to common shareholders | $6.50M | $(168)M | n/m |
| Earnings available for distribution (non-GAAP) | $45.2M | $30.4M | 48.2% |
| Diluted EPS | $0.08 | $(2.07) | n/m |
| Earnings available for distribution per adjusted diluted common share (non-GAAP) | $0.53 | $0.37 | 43.2% |
| Metric | FY2025 | FY2024 | Y/Y |
|---|---|---|---|
| Net income | $230M | $176M | 30.9% |
| Net income available to common shareholders | $144M | $90.3M | 60.0% |
| Diluted EPS | $1.72 | $1.10 | 56.4% |
| Earnings available for distribution (non-GAAP) | $141M | — | — |
| Earnings available for distribution per adjusted diluted common share (non-GAAP) | $1.68 | — | — |
- Q4 economic return was (0.9)%; book value was $19.70 per share, down 2.7% from Q3’s $20.24. The company attributed the decline largely to higher securitized-debt value, transaction expenses and the HomeXpress acquisition.
- Cash was $279M at year-end, vs $84.0M a year earlier; GAAP leverage was 5.1x vs 4.0x, and recourse leverage was 2.4x vs 1.2x.
- Residential Origination funded $1.0B of Q4 production, up 18% Q/Q; segment net income was $8.49M and EBTDA (non-GAAP) was $11.5M, a 16.2% annualized return on $272M of equity. Chimera also added a net $606M of Agency MBS during the year.
Guidance
- Common dividend: $0.45 per share beginning Q1 2026, expected to continue for the rest of FY2026 (raised from $0.37 per share).
Investor Takeaways
- Watch whether the $0.45 per-share dividend is declared and maintained through the remainder of 2026.
- Next-quarter Residential Origination volume and EBTDA will show whether Q4’s production growth and return level are sustained.
The summary is written by an AI model reading the filing.
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