Starwood Property Trust (STWD) Reports In-Line Q1 EPS, Revenues Miss

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Go back to Starwood Property Trust (STWD) Reports In-Line Q1 EPS, Revenues Miss

Starwood Property Trust Reports Results for the Quarter Ended March 31, 2020

May 4, 2020 6:00 AM EDT

GREENWICH, Conn., May 4, 2020 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fiscal quarter ended March 31, 2020.  The Company had a first quarter 2020 GAAP net loss of $66.8 million, or $(0.24) per diluted share, and Core Earnings of $162.1 million, or $0.55 per diluted share. GAAP net loss includes the unrealized, non-cash impacts of mark-to-market adjustments and the recently implemented CECL accounting standard, totaling $148.6 million ($0.53 per diluted share) and $48.7 million ($0.17 per diluted share), respectively, both of which reflect the market volatility and dislocation caused by the COVID-19 pandemic. ... More