Two Harbors Investment Third Quarter 2024 Earnings: Misses Expectations

Two Harbors Investment (NYSE:TWO) Third Quarter 2024 Results

Key Financial Results

• Net loss: US$250.3m (down by 186% from US$292.2m profit in 3Q 2023).
• US$2.42 loss per share (down from US$3.04 profit in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Two Harbors Investment Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 21%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is expected to decline by 118% p.a. on average during the next 2 years, while revenues in the Mortgage REITs industry in the US are expected to grow by 30%.

Performance of the American Mortgage REITs industry.

The company's shares are down 6.8% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for Two Harbors Investment (1 makes us a bit uncomfortable!) that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.