NYSE$BRSP

BrightSpire Capital Inc · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

BrightSpire Capital reported a net loss and distributable loss, but adjusted distributable earnings were positive. The company prepared for rising rates by reducing loan originations and maintaining high cash balances.

BrightSpire Capital reported a GAAP net loss of $(20.5) million, or $(0.16) per share, and a Distributable Loss of $(24.7) million, or $(0.19) per share. However, Adjusted Distributable Earnings, excluding specific CECL reserves, were $32.3 million, or $0.25 per share.

  • GAAP net loss attributable to common stockholders was $(20.5) million, or $(0.16) per share.
  • Distributable Loss was $(24.7) million, or $(0.19) per share.
  • Adjusted Distributable Earnings were $32.3 million, or $0.25 per share, excluding specific CECL reserves.
  • GAAP net book value was $10.87 per share and undepreciated book value was $12.08 per share as of September 30, 2022.

Headline financials

Total Revenue

$97.1M

Previous: -$10.8M+1002.3%
EPS (adj)

$0.25

Previous: $0.26-3.8%
Capital Expenditures

-$2.21M

Previous: -$9.54M+76.8%
Free Cash Flow

-$22.7M

Previous: -$79.6M+71.5%
Net Income

-$20.5M

Previous: -$70.1M+70.8%
Operating Income

$82M

Previous: -$32.2M+354.7%
Gross Profit

$97.1M

Previous: -$11.5M+942.1%
Cash & Equivalents

$286M

Previous: $209M+37.3%
Total Assets

$5.78B

Previous: $5.48B+5.5%
Stock-Based Comp

$2.22M

Previous: $2.67M-17.1%

Revenue & EPS history

BrightSpire · Revenue · Quarterly

$97.1M

Q3 2022-1,002.3%vs Q3 2021
Beat estimate in 14 of 15 quarters(93%)
ActualEstimate

Revenue by segment

BrightSpire · $3.8B total across 1 segment · Q1 2022

  • Loan Portfolio Interest Income
    $3.8B

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2022

Historical avgQ3 2022

-0.4%

Avg return

Earnings day

-0.2%

Avg return

5 days after

+0.9%

Avg return

30 days after

36%

12 / 33 earnings

Positive

+21.9%

Q1 2020

Best reaction

-17.6%

Q3 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-4.3%-4.3%-5.1%
Q4 2025+0.3%-3.8%-5.7%
Q3 2025-0.4%-1.5%+6.9%
Q1 2025-0.8%+4.6%+0.2%
Q4 2024+2.2%+1.7%-0.5%
Q3 2024+17.2%+9.8%+20.0%
Q2 2024-8.2%-11.5%-5.9%
Q1 2024-1.9%-2.4%-3.8%
Q4 2023+1.8%+2.3%+3.8%
Q3 2023+4.8%+17.6%+23.5%
Q2 2023-3.8%-2.5%-2.7%
Q1 2023-3.0%-0.9%+16.3%
Q4 2022+0.0%+1.0%-25.3%
Q3 2022-11.2%-9.0%-9.7%
Q2 2022+0.9%+2.9%-2.8%
Q1 2022+1.0%-3.7%+7.8%
Q4 2021-4.2%-0.9%+1.9%
Q3 2021-2.9%-2.2%-3.6%
Q2 2021+3.6%+6.8%+9.9%
Q1 2021+9.0%+5.8%+12.0%
Q4 2020-2.8%-2.0%+2.0%
Q3 2020+7.9%+33.3%+51.8%
Q2 2020-1.8%+0.5%-11.3%
Q1 2020+21.9%-1.2%+61.3%
Q4 2019-0.3%-0.5%-58.9%
Q3 2019-17.6%-15.8%-3.2%
Q2 2019-4.8%-11.9%-16.7%
Q1 2019-1.7%+0.1%-0.1%
Q4 2018-6.5%-8.1%-11.2%
Q3 2018-5.9%-6.5%-18.8%
Q2 2018-3.7%-4.9%-2.3%
Q1 2018-0.2%-0.3%-1.0%
Q4 2017+1.2%+2.2%+1.0%
Q3 2017
Q2 2017
Q1 2017
Q4 2016

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