CIM earnings analysis
What we found in CIM's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Chimera Investment Corporation reported a challenging Q1 2026, with a net loss of $65 million, yielding a diluted EPS of $(0.78), significantly below the estimated EPS of $0.52. Revenue reached $75 million, a significant decline from previous quarters, while earnings available for distribution were reported at $46 million, or $0.54 per share, reflecting operational challenges despite declaring a $0.45 dividend per share.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Earnings Available for Distribution at $46M
- The Earnings Available for Distribution stood at $46 million or $0.54 per share, reflecting an increase from $45 million or $0.53 in the previous quarter.
- Dividend Declared
- Chimera declared a dividend of $0.45 per share despite facing a net loss, demonstrating commitment to shareholder returns.
- Interest Income Increased
- Interest income rose to $219 million, a 15% increase year-over-year, driven by portfolio adjustments.
- Cash Position Improved
- Increased cash and cash equivalents to approximately $476 million from $279 million at the end of December 2025.
- Successful Loan Originations
- HomeXpress originated $883 million in loans, enhancing revenue for the Residential Origination segment.
- Net Interest Income Positive
- Net interest income saw an increase to $75 million from $66 million in the previous quarter.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Significant Net Loss
- The company reported a net loss of $65 million for Q1 2026, down from a profit of $6.5 million in Q4 2025, showcasing operational distress.
- Declining Stockholders' Equity
- Book value per share declined to $18.34 from $19.70, reflecting decreased asset values and challenging credit conditions.
- Increased Debt Levels
- Total interest-bearing liabilities stood at $12.7 billion, a rise from $13.1 billion, reflecting potential financial strain.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.78
- Segment
- Investment Portfolio
- Segment
- Residential Origination
What they said about what is next.
Management anticipates continued challenges in the residential mortgage market affecting future operations.
The filing reads worse than the one before it.
What came before.
- 10-K · February 18, 2026
- Chimera repositioned itself in 2025 into a vertically integrated residential mortgage platform, completing the October 1, 2025 acquisition of HomeXpress for total consideration of $272 million and beginning loan…
- 10-Q · November 6, 2025
- Chimera reported a quarterly net loss of $580 thousand (diluted EPS $(0.27)) for Q3 2025, a sharp reversal from Q3 2024 net income of $136,459 thousand (diluted EPS $1.39). Net interest income was $65,011 thousand in…
- 10-K · February 19, 2025
- Chimera (CIM) remains a mortgage-assets focused REIT that is diversifying into third‑party investment management after completing the Palisades acquisition on December 2, 2024 for $30.0 million (plus an earnout up to…
- 10-Q · November 6, 2024
- Chimera reported a strong quarter driven by large mark-to-market gains: net income was $136,459 (thousands) for the quarter ended September 30, 2024 versus $2,170 in the prior-year quarter, producing diluted EPS of…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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