ARI - Apollo Commercial Real Estate Q1 earnings beat amid strong new loan commitments
Apollo Commercial Real Estate Finance (NYSE:ARI) Q1 earnings beat the average analyst estimate even as net interest income declined from the previous quarter and a year ago. Q1 distributable EPS (before realized losses and impairments on real estate owned, investments and interest rate swap) of $0.35 exceeded the $0.32 consensus, rose from $0.32 in the prior quarter and declined from $0.39 in the year-ago quarter. "ARI is off to a strong start in 2022, closing approximately $1.8B of new loan commitments through the end of the first quarter, said CEO and President Stuart Rothstein. "Given the current geopolitical environment, we are balancing the need to be disciplined and thoughtful with respect to understanding market shifts and their impact on underwriting, while at the same time seeking out interesting opportunities for ARI created by market volatility." Net interest income of $55.1M vs. $59.2M in Q4 and $71.2M in Q1 2021. Book
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Apollo Commercial Real Estate Q1 earnings beat amid strong new loan commitments