Annaly (NLY) Q4 Earnings Top Estimates, NII & Book Value Dip Posted byZacks Equity Research February 10, 2022 Leave a comment on Annaly (NLY) Q4 Earnings Top Estimates, NII & Book Value Dip Annaly’s (NLY) fourth-quarter results reflect low financing costs, which increase net interest spread. A decline in the average yield on interest-earning assets and book value erosion ail.