10-Q · August 5, 2024
Granite Point reported a sharply weaker quarter driven by large credit provisions and resulting losses: total interest income fell to $48,479 (thousands) and the company recorded a net loss attributable to common…
Earnings analysis · 10-Q
GPMT earnings analysis
Filed May 5, 2026 · Our reading of the company's report
The latest report
Granite Point Mortgage Trust reported a Q1 2026 net loss of $6.0 million, with a diluted EPS of -$0.13, a notable improvement from a loss of $10.6 million or -$0.22 in Q1 2025. Revenue decreased to $26.0 million from…
Read full summary
Granite Point Mortgage Trust reported a Q1 2026 net loss of $6.0 million, with a diluted EPS of -$0.13, a notable improvement from a loss of $10.6 million or -$0.22 in Q1 2025. Revenue decreased to $26.0 million from $34.0 million in the previous year, missing estimates. Management expects continued volatility in the capital markets, with elevated interest rates likely impacting borrowers’ performance in the near term.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.13
What stood out
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Reduced Net Loss Compared to Last Year
GAAP net loss improved to $(6.0) million from $(10.6) million in Q1 2025.
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Decline in Revenue
Q1 2026 revenue was $26.0 million, down from $34.0 million in Q1 2025.
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Decrease in Provision for Credit Losses
Q1 2026 recorded a benefit from credit losses of $0.2 million compared to a $(3.8) million provision in Q1 2025.
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Dividends Declared
Common stock dividends declared were $2.6 million, maintaining at $0.05 per share.
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Cash Position
Unrestricted cash decreased to $43.6 million, but liquidity covenants were maintained.
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Improvement in Book Value per Share
Book value per share increased to $7.05 from $7.29 as of December 31, 2025.
What to watch
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High Credit Risk Exposure
Allowance for credit losses totaled $148.5 million, representing 9.4% of total loan commitments of $1.6 billion.
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Increased Interest Expenses
Total interest expense rose to $18.0 million in Q1 2026 from $27.1 million in Q1 2025 due to elevated borrowing cost.
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Impact of High Inflation and Interest Rates
Continued elevated interest rates may further impair borrower performance and lead to non-performances.
Management's outlook
No forward revenue or EPS guidance was provided.
Earlier filings 4
10-Q · November 7, 2023
Granite Point reported narrowing losses in Q3 2023 with net loss of $20,937,000 for the quarter (versus $25,504,000 in Q3 2022) and net interest income of $19,915,000 (up from $18,294,000). The company reduced its loan…
10-Q · November 8, 2022
Granite Point reported a quarterly net loss driven by a sharp increase in credit loss provisions: net (loss) attributable to common stockholders was $(29,130) thousand for the three months ended September 30, 2022, vs.…
10-Q · May 6, 2021
Granite Point reported a strong quarter with net income of $27,991,000 and diluted EPS of $0.45 for the three months ended March 31, 2021, reversing a $37,191,000 loss and $(0.68) diluted EPS in Q1 2020. Interest income…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.