- Ladder Capital ( NYSE: LADR ) Q2 earnings on Thursday came in stronger than expected as its floating rate loan portfolio kept growing, and net interest income increased in the wake of a rising yield environment.
- "With the Federal Reserve fighting inflation with aggressive rate hikes, we expect to see continued growth in our net interest income in the quarters ahead," said CEO Brian Harris.
- Q3 distributable EPS of $0.34 exceeded the average analyst estimate of $0.24 and climbed from $0.25 in the first quarter.
- Net interest income jumped to $22.6M at June 30 from $9.2M at March 31.
- Real estate operating income for Q2 was $28.6M, up from $26.4M in Q1.
- Subsequent to the end of Q2, the mortgage REIT increased its facility size by more than 20% to $324M, the maturity date was extended to 2027, and the borrowing cost was improved by 50 basis points to 2.50% over the index rate.
- Conference call at 5:00 p.m. ET.
- Earlier, Ladder Capital revenue of $83.8M beat by $20M .
For further details see:
Ladder Capital Q2 earnings bolstered by net interest income, loan portfolio