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Apollo Commercial Real Estate (ARI)
NYSE:ARI
Earnings Data
Report Date
Apr 29, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.27Last Year’s EPS
0.24Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a balance of positive operating and credit metrics—strong origination activity, portfolio growth, stable book value, reduced nonaccrual exposure, and added financing capacity—alongside notable uncertainties: a market valuation discount to book, modest immediate liquidity relative to the balance sheet, operational work required to stabilize retained REO (including fire recovery), and unanswered questions about long-term strategic direction and capital return mechanics. On net the company displays healthy underlying fundamentals but faces near-term execution and market-perception risks tied to the portfolio sale and strategic decisions.Company Guidance
Distributable Earnings and GAAP Results
Q4 distributable earnings of $37 million ($0.26 per diluted share); full year distributable earnings of $139 million ($0.98 per diluted share). GAAP net income available to common was $26 million ($0.18 per diluted share) for Q4 and $114 million ($0.81 per diluted share) for the full year.
Strong Loan Origination and Portfolio Growth
Q4 commitments of $1.3 billion with $1.1 billion funded at close and ~$200 million gross add-on fundings; full year commitments of $4.4 billion with $3.3 billion funded at close and ~ $900 million of add-ons. Loan portfolio grew by ~ $1.6 billion year-over-year (amortized cost) to approximately $8.8 billion.
Yield, Collateral Mix and Credit Metrics
Weighted average unlevered all-in yield of the portfolio was 7.3%; portfolio composed of 99% first mortgages, 96% floating-rate exposure, and a weighted average loan-to-value of ~59%. Weighted average risk rating stable at 3.0 (unchanged QoQ and YoY).
Improved Nonaccrual Position and CECL Stability
Balance of loans on nonaccrual decreased by over $170 million year-over-year (driven primarily by net proceeds from 111 West 57 unit sales). Exposure to 111 West 57 decreased by $250 million YoY and $105 million QoQ with six contracts closed in Q4. General CECL allowance was flat QoQ at approximately $45 million; total CECL allowance was $383 million at year-end (418 basis points of amortized cost, down from 450.7 bps a year ago).
Liquidity, Unencumbered Assets and Financing Capacity Added
Year-end total liquidity of $151 million and over $430 million of unencumbered assets (primarily first mortgage loans and REO cash flow). Added approximately $1.8 billion of net financing capacity during 2025, including four new secured credit facilities, extension of the revolving credit facility and upsizings.
Progress and Value-Enhancing Plans for Retained REO
ARI will retain four REO assets with active value-enhancing plans: the Brook (591-unit Class A multifamily in Brooklyn ~56% leased market-rate, retail 88% leased; stabilization expected later this year), Mayflower hotel (cost-savings initiatives to boost net cash flow), Cortland Grand (value-add upgrades and insurance recovery work after October 2025 fire), and a Massachusetts predevelopment JV pursuing zoning changes to increase site values.
Book Value Per Share Stable and Dividend Intent
Book value per share was $12.14 at year-end, relatively flat quarter-over-quarter. Management envisions paying a Q1 dividend consistent with recent quarters (subject to board approval) at $0.25 per share.
ARI 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
ARI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 10, 2026 | $10.71 | $10.68 | -0.28% |
Oct 30, 2025 | $9.99 | $9.79 | -2.00% |
Jul 29, 2025 | $9.56 | $9.43 | -1.33% |
Apr 24, 2025 | $8.64 | $8.76 | +1.32% |
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 Apollo Commercial Real Estate (ARI) report earnings?
Apollo Commercial Real Estate (ARI) is schdueled to report earning on Apr 29, 2026, After Close (Confirmed).
What is Apollo Commercial Real Estate (ARI) earnings time?
Apollo Commercial Real Estate (ARI) earnings time is at Apr 29, 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 ARI EPS forecast?
ARI EPS forecast for the fiscal quarter 2026 (Q1) is 0.27.