Two Harbors Investment Corp. (TWO) Q1 2025 Earnings Call Transcript

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Q1: 2025-04-28 Earnings Summary

EPS of $0.24 misses by $0.16
 | Revenue of -$20.33M (-51.84% Y/Y) beats by $9.99M

Two Harbors Investment Corp. (NYSE:TWO) Q1 2025 Results Conference Call April 29, 2025 9:00 AM ET

Company Participants

Maggie Karr - Head, Investor Relations
Bill Greenberg - President & Chief Executive Officer
Nick Letica - Chief Investment Officer
William Dellal - Chief Financial Officer

Conference Call Participants

Doug Harter - UBS
Trevor Cranston - Citizens JMP
Bose George - KBW
Eric Hagen - BTIG
Harsh Hemnani - Green Street
AJ Oden - JPMorgan
Merrill Ross - Compass Point Research

Operator

Good morning. My name is Cynthia, and I will be your conference facilitator. At this time, I would like to welcome everyone to Two’s First Quarter 2025 Earnings Call. All participants will be in a listen-only mode. After the speakers’ remarks, there will be a question-and-answer period.

I would now like to turn over the call to Maggie Karr. Please go ahead.

Maggie Karr

Good morning, everyone. And welcome to our call to discuss TWO’s first quarter 2025 financial results. With me on the call this morning are Bill Greenberg, our President and Chief Executive Officer; Nick Letica, our Chief Investment Officer; and William Dellal, our Chief Financial Officer.

The earnings press release and presentation associated with today's call have been filed with the SEC and are available on the SEC's website as well as the Investor Relations page of our website at twoimv.com.

In our earnings release and presentation, we have provided reconciliations of GAAP to non-GAAP financial measures, and we urge you to review this information in conjunction with today's call.

As a reminder, our comments today will include forward-looking statements, which are subject to risks and uncertainties that may cause our results to differ materially from expectations. These are described on Page 2 of the presentation and in our Form 10-K and subsequent reports filed with the SEC. Except as may

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