Orchid Island Capital, Inc. (NYSE:ORC) Q4 2022 Results Conference Call February 23, 2023 10:00 AM ET

Company Participants

Robert Cauley - Chairman and CEO

Hunter Haas - CFO and CIO and Director

Conference Call Participants

Jason Stewart - JonesTrading

Mikhail Goberman - JMP Securities

Christopher Nolan - Ladenburg Thalmann

Operator

Good morning and welcome to the Fourth Quarter 2022 Earnings Conference Call for Orchid Island Capital. This call is being recorded today, February 24, 2023.

At this time, the Company would like to remind listeners that statements made during today's conference call relating to matters that are not historical facts are forward-looking statements subject to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.

Listeners are cautioned that such forward-looking statements are based on information currently available on the management's good faith belief with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in such forward-looking statements.

Important factors that could cause such differences are described in the Company's filings with the Securities and Exchange Commission, including the Company's most recent Annual Report on Form 10-K. The Company assumes no obligation to update such forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking statements.

Now, I would like to turn the conference over to the Company's Chairman and Chief Executive Officer, Mr. Robert Cauley. Please go ahead, sir.

Robert Cauley

Good morning and welcome everybody.

I hope everybody has had a chance to download our slide presentation from the website this morning. I do apologize, we did issue our press release last night as usual, but the accompanying and financial statements were not attached. The audit process is taking a little longer than usual this year. And so, the financials were not attached. We will be filing our 10-K probably next week as we typically would do today. This process is running a little late and sorry for the delay but those should be out next week.

But all of the numbers that are in the press release, you can rely on, they're all accurate, unchanged and actually unchanged from what we released back in January when we gave our preliminary results.

So with that, I will kick off with the slide deck. As usual, kind of follow the same outline starting on page 3, with the outline of what we're going to discuss. I'll briefly go over the financial highlights, talk about the market developments and how they shaped our performance, and also our results and outlook for the future, and then I'll go into our financial results a little more detail and then finally talk about our portfolio characteristics, our hedge positions and how we're positioning and our outlook for the market going forward.