Adamas Trust (ADAM)
NASDAQ:ADAM
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Earnings Data
Report Date
Aug 05, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.2Last Year’s EPS
-0.04Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a predominantly positive operational and financial momentum: strong sequential and year-over-year earnings growth (EAD +26% QoQ, +45% YoY), book value gains, successful capital deployment (> $1B deployed), Constructive moving to profitability and improved liquidity and hedging outcomes. These positives were partially offset by macro-driven volatility (wide agency spread swings), modest compression in net interest spread, securitization spread volatility, and a persistent market valuation discount on the equity. On balance, the company demonstrated resilience, executed on strategic priorities, and advanced earnings scalability despite a challenging market environment.Company Guidance
Strong Earnings Growth
GAAP net income attributable to common stockholders of $36.9M, GAAP EPS $0.41 and Earnings Available for Distribution (EAD) $0.29 per share — EAD increased 26% quarter-over-quarter and 45% year-over-year, while EAD exceeded the $0.23 dividend.
Book Value Expansion
GAAP book value rose 4% quarter-over-quarter to $9.98 and adjusted book value increased 1.6% to $10.80, supporting a 6.35% economic return on GAAP book value and a 3.76% economic return on adjusted book value for the quarter.
Meaningful Capital Deployment and Portfolio Growth
Deployed over $1.0B in the quarter (approximately $510M to agency strategy and $502M to residential credit), driving total investment portfolio to $10.9B; BPL rental purchases reached a record $400M for the quarter.
Constructive Platform Profitability and Scaling
Constructive delivered mortgage banking income of $15.3M (including $9.2M gains on loans held for sale and $6.1M origination/fees) and generated approximately $2.5M stand-alone profit for the quarter vs. a ~$2M loss in prior quarter; Constructive ROE ~13%, moving toward 15% target.
Diversified, Stable Asset Mix and Risk Management
Agency RMBS comprised ~56% of investment capital providing downside protection; agency portfolio grew from $6.6B to $6.8B; firm employed active hedges that produced positive realized gains and contributed materially to quarterly performance (derivative gains cited of ~$87.8M).
Improved Net Interest Income and Financing Profile
Adjusted net interest income increased to $48.2M from $46.3M in prior quarter; financing improvements contributed to earnings despite a modest compression in net interest spread (145 bps vs 152 bps prior quarter).
Balance Sheet and Liquidity Strength
Company recourse leverage at 5.2x and portfolio recourse leverage at 4.9x; issued $90M senior unsecured notes due 2031 and redeemed $100M due 2026 to remove near-term maturities; quarter-end liquidity included $199M cash and ~$418M total liquidity capacity.
Securitization and Capital Markets Execution
Announced plan to issue 5–6 BPL rental securitizations in 2026; securitization markets remained functioning through volatility with the company able to price at the tighter end of execution ranges (example: initial AAA spread ~105 bps).
ADAM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
ADAM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 01, 2026 | $8.89 | $8.70 | -2.14% |
Feb 18, 2026 | $7.78 | $8.03 | +3.11% |
Oct 29, 2025 | $6.43 | $6.47 | +0.73% |
Aug 01, 2025 | $5.98 | $6.11 | +2.12% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Adamas Trust (ADAM) report earnings?
Adamas Trust (ADAM) is schdueled to report earning on Aug 05, 2026, After Close (Confirmed).
What is Adamas Trust (ADAM) earnings time?
Adamas Trust (ADAM) earnings time is at Aug 05, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ADAM EPS forecast?
ADAM EPS forecast for the fiscal quarter 2026 (Q2) is 0.2.