2023-04-27 16:53:23 ET
Ladder Capital's ( NYSE: LADR ) Q1 non-GAAP earnings, announced after the bell on Thursday, increased from the prior quarter even as it set aside more cash for loan loss reserves and real estate operating income declined.
The commercial real estate investment trust posted Q1 distributable EPS of $0.38 , exceeding the $0.31 average analyst estimate, higher than the $0.31 it earned in the prior quarter. Ladder ( LADR ) stock g ained 0.7% in Thursday after-hours trading.
Q1 net interest income was $43.0M, up from $37.3M in Q4 2022.
Provision for loan loss reserves increased to $4.74M from $2.34M in the prior quarter.
Real estate operating income of $23.2M fell from $25.6M in the prior quarter.
Total costs and expenses of $46.2M increased from $41.75M.
Cash and cash equivalents of $626.1M at March 31, 2023 increased from $609.1M at Dec. 31, 2022.
Conference call at 5:00 PM ET.
Earlier, Ladder Capital ( LADR ) non-GAAP EPS of $0.38 beats by $0.08
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For further details see:
Ladder Capital Q1 earnings climb past consensus even with higher loan loss reserves