NLY Annaly Capital Management (NLY) Q1 FY26 earnings call
Annaly Capital Management delivered a resilient Q1 FY26, achieving a positive economic return despite market volatility driven by geopolitical events and shifting rate expectations. The company strategically reallocated capital towards Residential Credit and MSR, capitalizing on more attractive return opportunities while maintaining a disciplined hedging approach. Management expressed confidence in the balanced opportunity set across its diversified housing finance platform for the remainder of the year.
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NLY operating KPIs by quarter
| KPI | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Utilization rate Residential Credit | 65%We have ample available capacity in both businesses with utilization rate at 65% for Residential Credit and 50% for MSR.Source: earnings call transcript | 61%We maintain ample available capacity in both businesses, with utilization rate of 61% for residential credit and 50% for MSR.Source: earnings call transcript | ~57%We maintained significant available capacity, with utilization rates of approximately 57% for residential credit and 50% for MSR.Source: earnings call transcript | — |
| Utilization rate MSR | 50%We have ample available capacity in both businesses with utilization rate at 65% for Residential Credit and 50% for MSR.Source: earnings call transcript | 50%We maintain ample available capacity in both businesses, with utilization rate of 61% for residential credit and 50% for MSR.Source: earnings call transcript | 50%We maintained significant available capacity, with utilization rates of approximately 57% for residential credit and 50% for MSR.Source: earnings call transcript | 0 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.