BrightSpire Capital (NYSE:BRSP) First Quarter 2024 Results

Key Financial Results

• Revenue: US$95.8m (down 13% from 1Q 2023).

• Net loss: US$57.1m (loss widened by US$53.0m from 1Q 2023).

• US$0.44 loss per share (further deteriorated from US$0.033 loss in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

BrightSpire Capital Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 9.0%. Earnings per share (EPS) missed analyst estimates.

Looking ahead, revenue is expected to decline by 39% p.a. on average during the next 2 years, while revenues in the Mortgage REITs industry in the US are expected to grow by 31%.

Performance of the American Mortgage REITs industry.

The company's shares are down 2.5% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with BrightSpire Capital, and understanding these should be part of your investment process.

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