Commercial real estate lender Ladder Capital (NYSE: LADR) reported Q2 CY2026 results exceeding the market’s revenue expectations, with sales up 2.6% year on year to $57.76 million. Its GAAP profit of $0.12 per share was 18.9% below analysts’ consensus estimates.
Is now the time to buy Ladder Capital? Find out by accessing our full research report, it’s free.
Ladder Capital (LADR) Q2 CY2026 Highlights:
- Net Interest Income: $22.59 million vs analyst estimates of $25.35 million (4.9% year-on-year growth, 10.9% miss)
- Revenue: $57.76 million vs analyst estimates of $55.79 million (2.6% year-on-year growth, 3.5% beat)
- EPS (GAAP): $0.12 vs analyst expectations of $0.15 (18.9% miss)
- Market Capitalization: $1.24 billion
Company Overview
Founded during the 2008 financial crisis when traditional lenders retreated from commercial real estate, Ladder Capital (NYSE: LADR) is a real estate investment trust that originates commercial real estate loans, owns commercial properties, and invests in real estate securities.
Sales Growth
From lending activities to service fees, most banks build their revenue model around two income sources. Interest rate spreads between loans and deposits create the first stream, with the second coming from charges on everything from basic bank accounts to complex investment banking transactions. Over the last five years, Ladder Capital grew its revenue at a tepid 6.8% compounded annual growth rate. This fell short of our benchmark for the banking sector and is a tough starting point for our analysis.
We at StockStory place the most emphasis on long-term growth, but within financials, a half-decade historical view may miss recent interest rate changes, market returns, and industry trends. Ladder Capital’s performance shows it grew in the past but relinquished its gains over the last two years, as its revenue fell by 8.8% annually. 
Note: Quarters not shown were determined to be outliers because they were impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, Ladder Capital reported modest year-on-year revenue growth of 2.6% but beat Wall Street’s estimates by 3.5%.
Net interest income made up 41.4% of the company’s total revenue during the last five years, meaning Ladder Capital’s growth drivers strike a balance between lending and non-lending activities.
Note: Quarters not shown were determined to be outliers because they were impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.Markets consistently prioritize net interest income growth over fee-based revenue, recognizing its superior quality and recurring nature compared to the more unpredictable non-interest income streams.
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Key Takeaways from Ladder Capital’s Q2 Results
We enjoyed seeing Ladder Capital beat analysts’ revenue expectations this quarter. On the other hand, its net interest income missed and its EPS fell short of Wall Street’s estimates. Overall, this was a weaker quarter. The stock remained flat at $9.71 immediately after reporting.
Ladder Capital underperformed this quarter, but does that create an opportunity to invest right now? If you’re making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here (it’s free).
