ARI Q1 net loss $0.76/share; $142M CECL allowance on NYC condo loan

Apollo Commercial Real Estate Finance, Inc.

2024-Q1 EPS reported -$0.76 revenue$80,535,000

Net loss per diluted share ($0.76); Distributable Earnings $0.35/share.
Recorded ~$142M CECL allowance on a mezzanine loan for an NYC ultra-luxury condo development.
Book value per share declined $1.00 due to the allowance; dividend remains $0.35/share.
No additional Specific CECL Allowances recorded on other loans during Q1.
Dividend maintained at $0.35 per share for 16th consecutive quarter.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Apollo Commercial Real Estate Finance, Inc. reported the quarter ended March 31, 2024 results: net income Net loss attributable to common stockholders per diluted share of common stock was ($0.76).

Period: the quarter ended March 31, 2024
Net income: Net loss attributable to common stockholders per diluted share of common stock was ($0.76)
Result: reported results

Exact text from the filing

Net loss attributable to common stockholders per diluted share of common stock was ($0.76) for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001193125-24-122604

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