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BrightSpire Capital (BRSP)
NYSE:BRSP
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.19Last Year’s EPS
$0.28Same Quarter Last Year
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: 13.71%
|Next Earnings Date:Feb 19, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted BrightSpire Capital's strong liquidity position and successful completion of a significant CLO transaction, along with positive movement in managing watch list loans and a share buyback program. However, challenges such as a defaulted hotel loan and a slow recovery in the loan market present notable obstacles. Despite these, the company's ability to cover its dividend and strategic financial maneuvers suggest an overall positive trajectory.Company Guidance
During the third quarter 2024 earnings call, BrightSpire Capital provided key financial metrics and guidance that highlighted the company's strategic progress and future outlook. The company reported a GAAP net income attributable to common stockholders of $12.7 million, or $0.10 per share, alongside distributable earnings of $17.9 million, or $0.14 per share, and adjusted distributable earnings of $27 million, or $0.21 per share. BrightSpire Capital also emphasized its liquidity position, stating it had $416 million in current liquidity, with $251 million in unrestricted cash. The company’s GAAP net book value was reported at $8.39 per share, while the undepreciated book value stood at $9.11 per share as of September 30, 2024. The call discussed their recent $675 million CLO transaction, which includes an $85 million ramp and a 2-year reinvestment period, citing it as a significant step forward in expanding their lending capacity. The management expressed confidence in the company’s positioning amidst improving market conditions, with plans to continue strategic loan originations and manage watch list loans and REO effectively.Record Cash Liquidity
BrightSpire Capital reported its largest cash balance in 18 months, standing at $251 million, significantly enhancing financial flexibility.
Successful CLO Transaction
Completed its third CLO transaction worth $675 million, with a 2-year reinvestment period, expanding lending capacity and enhancing asset-liability profile.
Reduction in Watch List Loans
Reduced the number of watch list loans from 12 to 9 through asset resolutions and loan upgrades.
Share Buyback Program
Repurchased 1.2 million shares at an average price of $5.52, indicating confidence in the embedded value of the shares.
Positive Earnings Coverage
Generated adjusted distributable earnings (DE) of $27 million or $0.21 per share, covering the dividend of $0.16 per share.
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BRSP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BRSP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $5.25 | $6.21 | +18.29% |
| Jul 30, 2024 | $6.03 | $5.57 | -7.63% |
| May 01, 2024 | $5.90 | $5.85 | -0.85% |
| Feb 21, 2024 | $6.04 | $6.23 | +3.15% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does BrightSpire Capital (BRSP) report earnings?
BrightSpire Capital (BRSP) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is BrightSpire Capital (BRSP) earnings time?
BrightSpire Capital (BRSP) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BRSP EPS forecast?
BRSP EPS forecast for the fiscal quarter 2024 (Q4) is $0.19.
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