Arbor Realty Trust

Q2 FY2026 EarningsQ2 FY26 results were significantly below consensus across all profitability metrics, reporting a GAAP net loss of $(37.3)M compared to a projected net income of $(9.1)M. While total revenue of $115.9B (combined interest and other revenue) appeared superficially strong, the structured business was heavily impacted by a $38.2M provision for credit losses and $13.6M in REO impairments. Normalized EPS of $0.10 (distributable earnings) missed the $0.28 consensus by 64%, leading to a dividend cut to $0.17 per share.