Ladder Capital Q1 GAAP EPS falls to $0.02; distributable EPS rises to $0.22
Ladder Capital reported first-quarter 2026 results, with GAAP diluted EPS of $0.02 and net income attributable to Class A shareholders of $2.6 million, down from $0.13 and $15.9 million in the fourth quarter of 2025. Distributable earnings, a non-GAAP measure, rose to $28.0 million ($0.22 per share) from $21.4 million ($0.17 per share), and the board authorized a $100.0 million share repurchase, which the company said increases its remaining authorization from $77.2 million.
Key points
- GAAP income before taxes was $3.2 million, versus $15.5 million in the prior quarter; total costs and expenses rose to $48.7 million from $35.0 million, led by compensation and employee benefits of $22.3 million, up from $10.9 million.
- Distributable earnings were $28.0 million, or $0.22 per diluted share, compared with $21.4 million, or $0.17, in the fourth quarter, which included a $5.0 million charge-off of allowance for credit losses.
- The company said it produced its highest quarterly loan origination volume in four years.
- On April 21, 2026, the board authorized a $100.0 million repurchase of Class A common stock, raising the remaining authorization from $77.2 million.
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 23, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.