Chimera reported a GAAP net loss of $43.9M for Q1 2026, reversing last year’s $167.3M profit, while operating cash flow surged to $243.3M — reflecting strategic portfolio reallocation and the full-quarter integration of HomeXpress amid ongoing capital market execution.
Key takeaways
Net income declined to -$43.9M from $167.3M YoY (-126.2%), per GAAP income statement.
Diluted EPS was -$0.78 versus $1.77 in Q1 2025 (-144.1%), consistent with the net income trend.
Net cash provided by operating activities rose to $243.3M from $48.8M YoY, indicating strong underlying liquidity generation despite GAAP loss.
HomeXpress is now fully integrated and central to Chimera’s residential origination strategy, with management actively evaluating the trade-offs between selling versus retaining loan production to balance short-term results and long-term earnings potential.
Chimera continues to deploy multiple financing channels — including securitizations, warehouse facilities, and repurchase agreements — to manage liquidity, enhance capital efficiency, and support investment strategy implementation.
Loan origination volumes, loan sale premiums, and cost efficiency remain key performance indicators for HomeXpress, aligned with Chimera’s broader objective of improving operational efficiency through customized technology and risk assessment frameworks.