NYSE$TRTX

TPG RE Finance Trust Inc · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Reported operating results, demonstrating focus on liquidity, non-mark-to-market financing, and proactive asset management.

TPG RE Finance Trust reported a GAAP net income of $3.8 million, or $0.05 per common share, and maintained a robust liquidity position of $662.6 million. The company originated two first mortgage loans with total commitments of $123.8 million and received loan repayments of $227.8 million.

  • Recognized GAAP net income attributable to common stockholders of $3.8 million, or $0.05 per common share.
  • Declared a cash dividend of $0.24 per share of common stock.
  • Originated two first mortgage loans with total loan commitments of $123.8 million.
  • Ended the quarter with $662.6 million of total liquidity.

Headline financials

Total Revenue

$25.3M

Previous: $38.5M-34.5%
EPS (adj)

$0.17

Previous: $0.33-48.5%
Book Value Per Share

$14.31

No prior period
Weighted Avg Risk Rating

3.2

Previous: 3.1+3.2%
Allowance for Credit Losses

$222M

Previous: $51.1M+335.2%
Free Cash Flow

$7.38M

Previous: $23.8M-69.0%
Net Income

$7.38M

Previous: $23.8M-69.0%
Operating Income

-$3.01M

Previous: $12.5M-124.1%
Gross Profit

$17.5M

Previous: $33.7M-48.1%
Cash & Equivalents

$162M

Previous: $352M-54.1%
Total Assets

$5.38B

Previous: $5.52B-2.4%
Stock-Based Comp

$1.8M

Previous: $1.27M+42.5%

Revenue & EPS history

TRTX · Revenue · Quarterly

$25.3M

Q1 2023-34.5%vs Q1 2022
Beat estimate in 10 of 14 quarters(71%)
ActualEstimate

Forward guidance

This earnings release contains forward‐looking statements that are subject to various risks and uncertainties.

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 2023

Historical avgQ1 2023

-1.1%

Avg return

Earnings day

-0.9%

Avg return

5 days after

+0.6%

Avg return

30 days after

45%

18 / 40 earnings

Positive

+14.2%

Q4 2023

Best reaction

-19.5%

Q1 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.1%-0.4%+0.4%
Q4 2025-3.6%-5.3%-11.1%
Q3 2025-3.4%-1.9%+1.9%
Q1 2025+1.5%+1.5%+2.0%
Q4 2024-5.2%-4.4%-3.0%
Q3 2024+5.1%+4.5%+9.8%
Q2 2024-1.2%-4.3%+2.8%
Q1 2024+8.8%+9.7%+12.1%
Q4 2023+14.2%+21.2%+40.2%
Q3 2023-7.7%-4.2%+3.5%
Q2 2023-12.1%-8.2%-3.6%
Q1 2023-19.5%-19.4%-7.8%
Q4 2022+10.8%+7.8%-15.8%
Q3 2022-14.5%-20.3%-11.0%
Q2 2022-5.2%-7.1%-17.0%
Q1 2022+4.8%+1.3%+1.0%
Q4 2021-5.1%-3.4%-2.4%
Q3 2021-2.8%+0.5%-6.5%
Q2 2021-2.6%-0.5%-3.5%
Q1 2021-0.3%+3.7%+5.5%
Q4 2020-5.2%-1.3%+2.3%
Q3 2020+0.6%+5.6%+33.0%
Q2 2020+5.3%+3.0%+9.4%
Q1 2020-9.8%-17.8%+25.1%
Q4 2019+0.4%+0.8%-63.8%
Q3 2019+2.5%+1.6%+2.0%
Q2 2019-0.2%-0.3%-1.6%
Q1 2019-0.4%+1.7%-1.7%
Q4 2016+0.2%+0.1%-2.3%
Q4 2018-0.6%-0.1%-0.7%
Q3 2018+0.2%+1.0%-1.5%
Q2 2018-0.5%-5.8%+0.1%
Q1 2017+0.7%+0.4%+2.9%
Q1 2018+0.7%+0.4%+2.9%
Q2 2017+0.1%+0.3%+6.1%
Q4 2017+0.1%+0.3%+6.1%
Q4 2015+0.1%+0.3%+6.1%
Q3 2016-0.8%-0.9%-0.6%
Q3 2017-0.8%-0.9%-0.6%
Q2 2016+2.7%+3.4%+2.0%
Q1 2016

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