Ladder Capital reports Q1 EPS 33c, consensus 29c

GAAP income before taxes for the three months ended March 31 was $18.4M, and diluted earnings per share was 13c. Distributable earnings was $42.3M, or 33c of distributable EPS. We are pleased with Ladder’s first quarter results, as we continue to navigate through the current credit cycle, increased global tensions, heightened market volatility, and persistently high interest rates. With a strong liquidity position, low leverage and our disciplined approach to credit, we are well-positioned and poised to capitalize on market opportunities as they materialize,” said Brian Harris, Ladder’s Chief Executive Officer.