- DigitalBridge ( NYSE: DBRG ) stock fell 3.2% in Friday morning trading after the company's Q3 expenses increased 13% from the prior quarter and by 32% from a year ago.
- Interest expense jumped 33% Y/Y to $53M and property operating expense climbed 32% to $106.0M.
- Q3 revenue of $296.6M vs. $294.2M consensus, rose from $239.1M in Q2 and from $252.2M in Q3 2021.
- Property operating income of $244.3M vs. $234.3M in the prior quarter and $194.9M in the year-ago quarter.
- Fee income of $41.3M declined from $44.3M in Q2 and from $50.2M in Q3 2021.
- Q3 distributable EPS jumped to $0.22 from $0.04 in Q2 and $0.01 in the year-ago period.
- Q3 expenses increased to $494.3M from $437.2M in Q2 and from $374.1M in Q3 2021.
- Adjusted EBITDA of $29.1M slipped from $30.9M in Q2 and increased from 17.6M in Q3 2021.
- Year-to-date, capital formation, including $3.4B of fee-earning equity under management, positions the company to meet or exceed its 2022 target.
- Earlier, DigitalBridge non-GAAP EPS of $0.22 beats by $0.38, revenue of $296.62M beast aby $2.42M
For further details see:
DigitalBridge stock dips as Q3 property, interest expenses climb