Arbor Realty Trust Q2 distributable earnings falls on higher provisions, impairment charges
ABR•Overview
- U.S. real estate lender posts Q2 attributable net loss compared with a profit in the year-ago period
- Distributable earnings per share fell to $0.10 from $0.25 a year ago
- Company repurchased $135 million of stock and boosted liquidity via capital markets deals
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Loss Per Share | $0.20 | ||
| Q2 Attributable Net Income | -$37.34 million | ||
| Q2 Net Interest Income | $53.10 million |
Result drivers
- Loan loss provisions - Company said higher provisions for credit losses and loss-sharing obligations weighed on results
- Real estate impairments - Company recorded $13.6 million of impairments on two real estate owned properties in Q2
- - Company said decrease in weighted average yield was due to less default and back interest collected, and more delinquencies and rate modifications
