NYSE$SAFE

Safehold Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

iStar reported results for the first quarter ended March 31, 2020.

iStar reported a net loss of ($0.28) per diluted common share and adjusted earnings of $0.14 per diluted common share. The company highlighted a strong balance sheet with approximately $435 million of current cash and revolver availability and continued monetization of legacy assets.

  • Unrealized gains on Safehold investment increased over $500 million year-to-date
  • Strong balance sheet with approximately $435 million of current cash and revolver availability
  • Continued monetization of legacy assets, resulting in an 8% reduction in total legacy assets
  • Expanded senior management team with addition of new CFO, Jeremy Fox-Geen, and promotion of Brett Asnas to EVP, Head of Capital Markets

Headline financials

Total Revenue

$173M

Previous: $107M+62.4%
EPS (adj)

$0.36

Previous: $0.36+0.0%
Capital Expenditures

-$4.01M

Previous: -$110M+96.3%
Free Cash Flow

-$19.6M

Previous: -$119M+83.6%
Net Income

-$15.6M

Previous: -$9.44M-65.0%
Operating Income

$119M

Previous: $65.7M+81.1%
Gross Profit

$169M

Previous: $107M+58.7%
Cash & Equivalents

$371M

Previous: $315M+17.7%
Total Assets

$5.22B

Previous: $4.67B+11.8%
Stock-Based Comp

$16.3M

Previous: $4.25M+282.9%

Revenue & EPS history

Safehold · Revenue · Quarterly

$173M

Q1 2020+62.4%vs Q1 2019
Beat estimate in 12 of 14 quarters(86%)
ActualEstimate

Forward guidance

iStar is well positioned to navigate these uncertain markets and remains focused on its unique mission to reinvent the ground lease industry.

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 Q1 2020

Historical avgQ1 2020

+1.0%

Avg return

Earnings day

+0.1%

Avg return

5 days after

-0.8%

Avg return

30 days after

52%

31 / 60 earnings

Positive

+25.8%

Q2 2010

Best reaction

-10.3%

Q3 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+3.9%-5.8%-6.6%
Q4 2025-1.4%+7.0%-3.5%
Q3 2025-10.3%-4.4%-6.5%
Q1 2025+4.0%+1.9%+0.1%
Q4 2024+7.9%+6.5%+12.7%
Q3 2024-2.3%-10.0%-7.3%
Q2 2024+1.7%+2.4%+9.8%
Q1 2024+3.7%+2.1%+0.5%
Q4 2023-4.7%+3.2%-1.6%
Q3 2023-2.6%+9.1%+20.8%
Q2 2023-6.1%-7.9%-14.0%
Q1 2023-1.2%-4.8%-13.1%
Q4 2022-4.9%-10.1%-20.5%
Q3 2022+3.0%+0.9%+1.5%
Q2 2022-1.3%+1.3%-19.6%
Q1 2022-1.0%-8.4%-11.8%
Q4 2021+4.8%+7.0%-0.6%
Q3 2021+0.1%+1.5%-2.8%
Q2 2021+2.3%+0.4%+7.5%
Q1 2021+1.0%-0.4%-8.0%
Q4 2020+1.5%+2.8%+11.7%
Q3 2020+8.5%+1.0%+18.6%
Q2 2020-9.4%-2.6%+2.7%
Q1 2020-8.3%-4.3%+10.2%
Q4 2019+2.8%+2.7%-14.8%
Q3 2019-1.7%+1.2%-4.3%
Q2 2019+1.7%+3.4%-0.5%
Q1 2019+4.7%-0.1%+10.5%
Q4 2016-2.5%-5.5%-9.0%
Q4 2018+1.5%+0.7%-15.9%
Q3 2018+3.2%+0.6%+0.4%
Q2 2018-3.5%+0.7%-0.4%
Q1 2018+4.4%+2.5%+8.1%
Q4 2017-2.8%+0.0%-1.6%
Q3 2017-0.8%-1.3%-4.3%
Q2 2017-3.1%-0.4%-2.1%
Q1 2017-0.9%-3.7%+3.6%
Q3 2016+2.9%+4.9%+14.2%
Q2 2016+7.6%+8.2%+5.7%
Q4 2015-6.2%
Q3 2015-3.7%
Q2 2015-3.7%
Q4 2014+0.1%
Q3 2014-1.3%
Q3 2013-3.2%
Q2 2013-2.7%
Q1 2013-0.6%
Q4 2012+1.2%
Q3 2012+0.1%
Q2 2012+0.0%
Q1 2011+0.9%
Q1 2012+3.5%
Q1 2010+2.4%
Q4 2009+2.4%
Q4 2011+2.4%
Q3 2010-6.6%
Q3 2011-6.6%
Q2 2011+25.8%
Q2 2010+25.8%
Q4 2010+25.8%

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