Ladder Capital Corp
For the period ended Sep 30, 2026. Filed Oct 26, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 26, 2026
LADR$8.84-1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
(Dollars in Thousands, Except Per Share Data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Net interest income | ||||
| Interest income | $80,446 | $71,768 | $232,871 | $198,829 |
| Interest expense | 51,616 | 37,605 | 147,255 | 109,485 |
| Net interest income (expense) | 28,830 | 34,163 | 85,616 | 89,344 |
| Provision for (release of) loan loss reserves, net | 13 | (31) | 107 | (154) |
| Net interest income (expense) after provision for (release of) loan loss reserves | 28,817 | 34,194 | 85,509 | 89,498 |
| Other income (loss) | ||||
| Real estate operating income | 30,657 | 26,666 | 88,854 | 74,214 |
| Net result from mortgage loan receivables held for sale | (357) | (377) | (110) | 4,700 |
| Gain (loss) on real estate, net | 65,627 | — | 65,627 | 3,807 |
| Fee and other income (loss) | (5,526) | 3,864 | (557) | 11,952 |
| Net result from derivative transactions | 489 | 21 | 1,042 | 1,870 |
| Earnings (loss) from investment in unconsolidated ventures | (823) | (414) | (828) | (1,434) |
| Gain on extinguishment of debt | 7 | (106) | 79 | 151 |
| Total other income (loss) | 90,074 | 29,654 | 154,107 | 95,260 |
| Costs and expenses | ||||
| Compensation and employee benefits | 16,174 | 11,552 | 50,758 | 41,874 |
| Operating expenses | 4,885 | 5,276 | 15,087 | 14,559 |
| Real estate operating expenses | 14,748 | 11,424 | 38,916 | 30,456 |
| Interest expense on real estate | 5,789 | 6,373 | 16,970 | 19,695 |
| Investment related expenses | 1,900 | 855 | 4,762 | 2,887 |
| Depreciation and amortization | 8,059 | 8,238 | 26,309 | 23,617 |
| Total costs and expenses | 51,555 | 43,718 | 152,802 | 133,088 |
| Income (loss) before taxes | 67,336 | 20,130 | 86,814 | 51,670 |
| Income tax expense (benefit) | 1,450 | 960 | 3,765 | 3,836 |
| Net income (loss) | 65,886 | 19,170 | 83,049 | 47,834 |
| Net (income) loss attributable to noncontrolling interests in consolidated ventures | (21) | 19 | 8 | 459 |
| Net income (loss) attributable to Class A common shareholders | $65,865 | $19,189 | $83,057 | $48,293 |
| Earnings per share: | ||||
| Basic | $0.53 | $0.15 | $0.67 | $0.38 |
| Diluted | $0.53 | $0.15 | $0.66 | $0.38 |
| Weighted average shares outstanding: | ||||
| Basic | 124,098,939 | 125,339,188 | 124,738,287 | 125,587,121 |
| Diluted | 124,885,210 | 126,115,547 | 125,379,570 | 126,198,822 |
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