Apollo Commercial Real Estate Finance (ARI) Reports In-Line Q2 EPS

Apollo Commercial Real Estate Finance (NYSE: ARI) reported Q2 EPS of $0.44, in-line with the analyst estimate of $0.44.

• Reported net income available to common stockholders of $48.5 million, or $0.39 per diluted share of common stock, for the three months ended June 30, 2018, as compared to $26.9 million, or $0.28 per diluted share of common stock, for the three months ended June 30, 2017;
• Reported Operating Earnings (a non-GAAP financial measure defined below) of $54.9 million, or $0.44 per diluted share of common stock, for the three months ended June 30, 2018, as compared to $44.6 million, or $0.46 per diluted share of common stock, for the three months ended June 30, 2017;
• Generated $70.8 million of net interest income during the quarter from the Company’s $4.9 billion commercial real estate loan portfolio;
• Committed $968.0 million to new commercial real estate loans ($961.7 million of which was funded at closing) and funded an additional $112.5 million for loans closed prior to the quarter;
• Subsequent to quarter end, committed $87.0 million to new commercial real estate loans (all of which was funded at closing), bringing year-to-date loan commitments to $2.0 billion;
• Amended the Company’s master repurchase agreement with JPMorgan Chase Bank to extend the term through June 2021;
• Amended and restated the Company’s master repurchase agreement with Deutsche Bank to increase the borrowing capacity to $855 million and extend the term through March 2021;
• Entered into a master repurchase agreement with Credit Suisse to finance a first mortgage; and
• Declared a $0.46 dividend per share of common stock for the three months ended June 30, 2018.

For earnings history and earnings-related data on Apollo Commercial Real Estate Finance (ARI) click here.

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