Blackstone Mortgage Trust, Inc. (BXMT) functions as a real estate finance entity, primarily engaged in originating senior-level debt secured by commercial properties. ...
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Est. EPS $0.27 · Revenue $149.71M · 4 analysts
Est. EPS $0.29 · Revenue $149.11M · 4 analysts
Est. EPS $1.08 · Revenue $616.24M · 5 analysts
Est. EPS $0.35 · Revenue $147.12M · 1 analysts
$1.88 per share
$1.88 per share
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $1.5B | -14.0% | +0.5% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $109.6M | +153.7% | -1189.9% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +76.9% | -17.6% | -69.6% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +71.6% | +16.3% | +186.6% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +7.2% | +162.4% | -1183.6% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $275.9M | -24.6% | -200.0% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +18.1% | -12.4% | -199.5% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 462.0% | +11.2% | +4.2% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 0.06x | — | -13.7% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $20.0B | +1.0% | -1.2% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 0.64 vs 0.81 | -20.7% | -0.48 vs 0.27 | -275.3% |
| Revenue Surprise | $1.5B vs $464.1M | +227.7% | $382.0M vs $149.7M | +155.2% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 4, 2026 | NASSAU HENRY N | director | Class A Common Stock | A | 10,000 | $14.34 |
| Jul 15, 2026 | Lynch Nnenna | director | Class A Common Stock | A | 1,147 | $17.12 |
| Jul 15, 2026 | SAGALYN LYNNE B | director | Class A Common Stock | A | 3,939 | $17.12 |
| Jul 15, 2026 | NASSAU HENRY N | director | Class A Common Stock | A | 3,044 | $17.12 |
| Jul 15, 2026 | Hsu Chen Yi | director | Class A Common Stock | A | 181 | $17.12 |
Operator: Good day, and welcome to the Blackstone Mortgage Trust second quarter 2026 investor call. Today's call is being recorded. At this time, all participants are in a listen-only mode. If you require operator assistance at any time, please press star zero. If you would like to ask a question, please signal by pressing star one on your telephone keypad. If you're using a speakerphone, please make sure your mute function is turned off to allow your signal to reach our equipment. At this time, I'd like to turn the call over to Tim Hayes, Vice President, Shareholder Relations. Please go ahead. Tim Hayes: Good morning, and welcome everyone to Blackstone Mortgage Trust's second quarter 2026 earnings conference call. I'm joined today by Tim Johnson, Chief Executive Officer, Austin Peña, President, and Marcin Urbaszek, Chief Financial Officer. This morning, we filed our 10-Q and issued a press release and a presentation of our results, which are available on our website and have been filed with the SEC. I'd like to remind everyone that today's call may include forward-looking statements, which are subject to risks, uncertainties, and other factors outside of the company's control. Actual results may differ materially. For a discussion of some of the risks that could affect results, please see the risk factor section of our most recent 10-K. We do not undertake any duty to update forward-looking statements. We will also refer to certain non-GAAP measures on this call, and for reconciliations, you should refer to the press release and 10-Q. This audiocast is copyrighted material of Blackstone Mortgage Trust and may not be duplicated without our consent. For the second quarter, we reported a GAAP net loss of $0.48 per share, while distributable earnings were $0.31 per share, and distributable earnings prior to realized gains and losses were $0.48 per share. A few weeks ago, we paid a dividend of $0.47 per share with respect to the second quarter. With that, I'll now turn the call over to Tim. Tim Johnson: Thanks, Tim. BXMT's second quarter results reflect continued execution of our goal of driving portfolio turnover and reallocating our capital into high-conviction investment themes. We received $1.2 billion of repayments in the second quarter, nearly all of which were seasoned loans originated before 2023. We reinvested our capital into $1.4 billion of new investments concentrated in sectors with strong underlying fundamentals, such as residential, industrial, and net lease. Over the past year, these sectors have accounted for approximately 80% of our total portfolio deployment, and we've leveraged our global platform to source investments offering highly compelling relative value. Our investment activity this quarter includes our entry into the single-family home builder finance sector. This is an area where there has been significant pullback from the banking system, and our platform positions us well to gain market share amidst a fragmented …
| Name | Title | Gender | Year Born | Status |
|---|---|---|---|---|
Robert Sitman | MD & Global Head of Asset Management | Male | 1982 | Active |
Marcin Urbaszek | CFO, Treasurer & Assistant Secretary | Male | 1976 | Active |
Kenneth A. Caplan | BX Global Co-Chief Investment Officer & Senior MD | Male | 1973 | Active |
Nadeem Meghji | BX Global Head of Real Estate Americas & Senior MD | Male | 1981 | Active |
Robert G. Harper | Senior Managing Director and Head of BX Real Estate US Asset Management | Male | 1978 | Active |
Scott Aaron Mathias | Chief Compliance Officer & Secretary | Male | 1979 | Active |
Timothy Paul Hayes Jr. | Vice President of Shareholder Relations | Male | 1991 | Active |
Timothy Johnson | Chief Executive Officer, Global Head of BREDS & Chairman of the Board | Male | 1980 | Active |
F. Austin Pena | President & Director | Male | 1986 | Active |
Michael Wiebolt | Senior Managing Director | Male | — | Active |
After a week of wild swings that rattled portfolios and left investors guessing, Wall Street analysts are already reshuffling their ratings on Friday morning, with some surprising cuts and upgrades across sectors from utilities to gaming that could reshape how you think about your positions.
Blackstone Mortgage Trust is downgraded to Hold after four consecutive earnings misses and a -16% price decline since last November. BXMT faces headwinds from potential Fed rate hikes, weak dividend growth, and underperformance in ROE versus peers, despite a diversified loan portfolio. Q2 saw $1.4B in new loan investments and a 97% performing loan book, but net loss and declining EPS raise concerns about near-term momentum.
Blackstone Mortgage Trust NYSE: BXMT reported a second-quarter GAAP net loss of $0.48 per share, while distributable earnings were $0.31 per share. Distributable earnings before realized gains and losses totaled $0.48 per share, covering the company's $0.47 quarterly dividend.
Blackstone Mortgage Trust, Inc. (BXMT) Q2 2026 Earnings Call Transcript
Blackstone Mortgage Trust (BXMT) came out with quarterly earnings of $0.48 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.19 per share a year ago.
