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Jun 30, 2022
Ladder Capital Q2 2022 Earnings Report
Reported increased earnings momentum and grew floating rate loan portfolio.
Key Takeaways
Ladder Capital Corp reported GAAP income before taxes of $45.8 million and diluted earnings per share of $0.28 for the quarter ended June 30, 2022. Distributable earnings were $43.7 million, or $0.34 of distributable EPS.
Increased earnings momentum driven by growth in the floating rate loan portfolio.
Expect continued growth in net interest income due to Federal Reserve rate hikes.
Successfully upsized, extended, and improved the borrowing cost on its revolving credit facility.
Total assets of $5.8 billion as of June 30, 2022.
Forward Guidance
Ladder Capital expects to see continued growth in net interest income in the quarters ahead due to the Federal Reserve fighting inflation with aggressive rate hikes. With low leverage, and ample liquidity, the company is well positioned to capitalize on attractive investment opportunities.
Positive Outlook
- Continued growth in net interest income expected.
- Federal Reserve rate hikes expected to contribute to earnings.
- Low leverage provides financial flexibility.
- Ample liquidity to capitalize on investment opportunities.
- Upsized and extended revolving credit facility.
Challenges Ahead
- Impact and aftermath of the COVID-19 pandemic.
- Risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.
- Uncertainties related to forward-looking statements.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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