Broadmark Realty Capital Inc. (BRMK) Misses Q1 EPS by 2c

Broadmark Realty Capital Inc. (NYSE: BRMK) reported Q1 EPS of $0.18, $0.02 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $29.5 million versus the consensus estimate of $32.67 million.

Jeff Pyatt, President and Chief Executive Officer of Broadmark, commented, “Housing and construction market fundamentals remain highly supportive of our business, with a persistent shortage of housing supply continuing to drive demand for our loans. We achieved a strong pace of originations to start the year, with new loans and risk reducing amendments of $149 million. This follows an exceptional quarter of origination volumes at the end of 2020. Our newly enhanced capital structure has unlocked additional funding capacity on our balance sheet, positioning us to take advantage of lending opportunities in our high-growth target markets. As we survey an attractive market landscape, we remain committed to our disciplined approach to capital allocation, which we believe will help drive exceptional cash flow growth and value creation for our shareholders.”

For earnings history and earnings-related data on Broadmark Realty Capital Inc. (BRMK) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Neumora Therapeutics, Inc. (NMRA) Tops Q2 EPS by 4c
• Hydrofarm Holdings Group, Inc. (HYFM) Misses Q2 EPS by 134c