Franklin BSP Realty Trust (FBRT) Q3 FY2023 earnings: revenue $62 million, up 24.1% on the year

Franklin BSP Realty Trust, Inc. (FBRT) reported revenue of $62 million for Q3 FY2023, the quarter ended 30 September 2023, up 24.1% on the same quarter a year earlier. Net income was $32 million, down 9.9% on the year, and diluted earnings per share $0.30. The figures are the company's own, from the 10-Q it filed with the SEC on 30 October 2023.

Revenue$62 millionup 24.1%

Net income$32 milliondown 9.9%

Diluted EPS$0.30

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	62.4	n/a	n/a	n/a
Interest expense	78.0	n/a	n/a	n/a
Income tax	-1.8	n/a	n/a	n/a
Net income	31.8	n/a	n/a	n/a
Net margin	50.9%	n/a	n/a
Diluted EPS	$0.30	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	63.1	n/a	n/a	n/a
Cash from investing	274	n/a	n/a	n/a
Cash from financing	-151	n/a	n/a	n/a
Depreciation and amortisation	1.5	n/a	n/a	n/a
Share-based compensation	1.3	n/a	n/a	n/a
Buybacks	0.0	n/a	n/a	n/a
Dividends paid	36.2	n/a	n/a	n/a
Diluted shares, weighted	82m	n/a	n/a	n/a
Shares outstanding at period end	82m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	1,567	n/a	n/a	n/a
Non-controlling interest	29.1	n/a	n/a	n/a
Debt	24.0	n/a	n/a	n/a
Other liabilities	4,255	n/a	n/a	n/a
Total liabilities and equity	5,875	n/a	n/a	n/a
Securities held for sale or to maturity	193	n/a	n/a	n/a
Loans	4,914	n/a	n/a	n/a
Cash and equivalents	411	n/a	n/a	n/a
Other assets	357	n/a	n/a	n/a
Total assets	5,875	n/a	n/a	n/a

Questions

What was Franklin BSP Realty Trust's revenue in Q3 FY2023?

Franklin BSP Realty Trust (FBRT) reported revenue of $62 million for Q3 FY2023, the quarter ended 30 September 2023, up 24.1% on the same quarter a year earlier.

How much did Franklin BSP Realty Trust earn in Q3 FY2023?

Net income for Q3 FY2023 was $32 million, down 9.9% on the year, and diluted earnings per share $0.30.

When did Franklin BSP Realty Trust report Q3 FY2023 results?

Franklin BSP Realty Trust filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 30 October 2023.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024 †	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	62.4	54.8	54.0	50.9	54.0	55.9	55.0	49.3	89.5	n/a	74.4	65.3
Interest expense	78.0	n/a	81.3	86.7	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net income	31.8	30.0	35.9	-2.2	31.6	30.5	24.1	23.2	17.3	n/a	12.0	15.6
Net margin	51%	55%	67%	-4%	59%	55%	44%	47%	19%	n/a	16%	24%
Diluted EPS	$0.30	$0.29	$0.35	-$0.11	$0.30	$0.28	$0.20	$0.19	$0.12	n/a	$0.07	$0.12
Operating cash flow	63.1	55.9	13.0	1.9	97.4	-55.1	116	11.8	-148	n/a	-54.0	48.3
Buybacks	0.0	3.3	1.9	3.0	0.0	0.0	0.0	0.0	0.0	n/a	39.8	16.0
Dividends paid	36.2	36.2	36.1	36.3	36.2	36.2	36.2	36.4	36.5	n/a	36.0	21.6
Shares outstanding	82m	83m	83m	83m	83m	83m	83m	83m	83m	82m	77m	75m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter left blank is one the arithmetic cannot give yet: the annual report changed the basis of the year (a business sold or spun off, a line regrouped), so the year less the three quarters as first filed would not be a quarter of anything. It fills in once the three quarters have been refiled on the new basis. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 30 October 2023, accession 0001562528-23-000042: the filing on EDGAR. All of Franklin BSP Realty Trust, Inc.'s filings: EDGAR company page.

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