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Mar 31, 2020
Ladder Capital Q1 2020 Earnings Report
Ladder Capital Corp reported a GAAP loss and a core profit for the quarter ended March 31, 2020.
Key Takeaways
Ladder Capital Corp reported a GAAP loss before taxes of $18.6 million and a diluted loss per share of $0.15 for the quarter ended March 31, 2020. Core earnings were $30.9 million, with a core EPS of $0.26. The company has secured $206.4 million in senior secured financing from Koch Real Estate Investments and completed a private CLO with Goldman Sachs Bank USA, generating $310.2 million in gross proceeds. As of May 1, Ladder had over $830 million in cash on hand and over $2.6 billion of unencumbered assets.
GAAP loss before taxes for Q1 2020 was $18.6 million.
Diluted loss per share was $0.15.
Core earnings were $30.9 million, or $0.26 of core EPS.
Strategic financing arrangement with Koch Real Estate Investments provided $206.4 million.
Revenue by Segment
Forward Guidance
The company did not provide specific forward guidance in this earnings report. However, they highlighted their strong liquidity position and ability to capitalize on future opportunities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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