Franklin BSP Realty Trust Inc
NYSE:FBRT
Income Statement
Earnings Waterfall
Franklin BSP Realty Trust Inc
Income Statement
Franklin BSP Realty Trust Inc
| Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | Dec-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||||||||||||||||||||||
| Revenue |
95
N/A
|
109
+16%
|
127
+16%
|
151
+19%
|
163
+9%
|
188
+15%
|
206
+9%
|
226
+10%
|
237
+5%
|
236
0%
|
226
-4%
|
208
-8%
|
200
-4%
|
193
-3%
|
204
+6%
|
214
+5%
|
212
-1%
|
240
+13%
|
251
+5%
|
296
+18%
|
369
+25%
|
425
+15%
|
518
+22%
|
558
+8%
|
574
+3%
|
580
+1%
|
558
-4%
|
563
+1%
|
562
0%
|
547
-3%
|
527
-4%
|
553
+5%
|
561
+1%
|
|
| Gross Profit | ||||||||||||||||||||||||||||||||||
| Cost of Revenue |
(51)
|
(65)
|
(71)
|
(79)
|
(89)
|
(92)
|
(106)
|
(114)
|
(119)
|
(124)
|
(114)
|
(105)
|
(93)
|
(81)
|
(80)
|
(82)
|
(102)
|
(119)
|
(145)
|
(179)
|
(214)
|
(263)
|
(301)
|
(334)
|
(355)
|
(364)
|
(374)
|
(382)
|
(379)
|
(369)
|
(353)
|
(347)
|
(342)
|
|
| Gross Profit |
43
N/A
|
44
+2%
|
56
+27%
|
71
+27%
|
74
+4%
|
96
+29%
|
100
+4%
|
112
+12%
|
117
+5%
|
112
-5%
|
112
0%
|
102
-8%
|
107
+4%
|
112
+5%
|
124
+11%
|
132
+6%
|
110
-17%
|
121
+10%
|
106
-13%
|
116
+10%
|
154
+33%
|
163
+5%
|
217
+33%
|
224
+3%
|
219
-2%
|
216
-1%
|
184
-15%
|
180
-2%
|
183
+2%
|
177
-3%
|
174
-2%
|
206
+18%
|
219
+6%
|
|
| Operating Income | ||||||||||||||||||||||||||||||||||
| Operating Expenses |
(11)
|
(14)
|
(17)
|
(18)
|
(18)
|
(19)
|
(18)
|
(21)
|
(23)
|
(27)
|
(28)
|
(26)
|
(22)
|
(19)
|
(18)
|
(16)
|
(14)
|
(16)
|
(18)
|
(20)
|
(28)
|
(30)
|
(35)
|
(39)
|
(37)
|
(37)
|
(33)
|
(37)
|
(45)
|
(53)
|
(65)
|
(110)
|
(132)
|
|
| Selling, General & Administrative |
(7)
|
(9)
|
(11)
|
(13)
|
(13)
|
(14)
|
(15)
|
(16)
|
(16)
|
(17)
|
(16)
|
(14)
|
(13)
|
(12)
|
(13)
|
(13)
|
(8)
|
(8)
|
(8)
|
(8)
|
(15)
|
(17)
|
(19)
|
(21)
|
(19)
|
(19)
|
(17)
|
(18)
|
(18)
|
(19)
|
(22)
|
(56)
|
(76)
|
|
| Depreciation & Amortization |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(1)
|
(2)
|
(3)
|
(4)
|
(5)
|
(5)
|
(6)
|
(7)
|
(7)
|
(7)
|
(12)
|
(11)
|
(11)
|
(6)
|
(6)
|
(6)
|
(8)
|
(10)
|
|
| Other Operating Expenses |
(4)
|
(5)
|
(6)
|
(5)
|
(5)
|
(5)
|
(4)
|
(5)
|
(7)
|
(9)
|
(10)
|
(9)
|
(7)
|
(4)
|
(3)
|
(3)
|
(4)
|
(5)
|
(6)
|
(7)
|
(7)
|
(7)
|
(10)
|
(11)
|
(11)
|
(6)
|
(5)
|
(8)
|
(21)
|
(29)
|
(37)
|
(46)
|
(46)
|
|
| Operating Income |
33
N/A
|
31
-6%
|
39
+29%
|
53
+35%
|
56
+5%
|
78
+39%
|
82
+6%
|
91
+11%
|
94
+3%
|
86
-9%
|
84
-2%
|
77
-9%
|
85
+10%
|
94
+11%
|
107
+14%
|
115
+8%
|
96
-17%
|
106
+10%
|
89
-16%
|
97
+10%
|
127
+31%
|
133
+4%
|
182
+37%
|
185
+2%
|
181
-2%
|
179
-1%
|
151
-16%
|
143
-5%
|
138
-3%
|
124
-10%
|
109
-12%
|
96
-12%
|
87
-10%
|
|
| Pre-Tax Income | ||||||||||||||||||||||||||||||||||
| Interest Income Expense |
1
|
2
|
2
|
3
|
0
|
(3)
|
(7)
|
(9)
|
(3)
|
(12)
|
(15)
|
(19)
|
(24)
|
(9)
|
(5)
|
(1)
|
7
|
(56)
|
(60)
|
(62)
|
(75)
|
(13)
|
(6)
|
(6)
|
0
|
(2)
|
(2)
|
(1)
|
(0)
|
(0)
|
(0)
|
1
|
4
|
|
| Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(15)
|
(19)
|
(15)
|
(10)
|
5
|
9
|
5
|
(88)
|
(89)
|
(89)
|
(89)
|
(1)
|
3
|
4
|
1
|
1
|
(4)
|
(4)
|
(1)
|
(1)
|
(1)
|
(1)
|
(5)
|
(11)
|
|
| Gain/Loss on Disposition of Assets |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
1
|
2
|
2
|
3
|
10
|
10
|
10
|
9
|
0
|
(1)
|
(2)
|
(4)
|
(8)
|
(7)
|
(6)
|
(10)
|
(8)
|
(8)
|
(10)
|
(1)
|
(1)
|
(3)
|
|
| Total Other Income |
1
|
1
|
(1)
|
(3)
|
(3)
|
(6)
|
(4)
|
(3)
|
(3)
|
0
|
0
|
0
|
0
|
2
|
4
|
5
|
5
|
4
|
(30)
|
(31)
|
(36)
|
(41)
|
(31)
|
(34)
|
(34)
|
(32)
|
(43)
|
(40)
|
(36)
|
(31)
|
3
|
3
|
12
|
|
| Pre-Tax Income |
34
N/A
|
34
-1%
|
40
+19%
|
53
+32%
|
53
+1%
|
68
+29%
|
71
+3%
|
79
+12%
|
88
+11%
|
58
-34%
|
50
-13%
|
44
-13%
|
53
+20%
|
94
+79%
|
117
+25%
|
135
+15%
|
29
-78%
|
(25)
N/A
|
(82)
-221%
|
(85)
-5%
|
14
N/A
|
80
+477%
|
145
+82%
|
139
-4%
|
142
+2%
|
135
-5%
|
92
-32%
|
93
+1%
|
94
+1%
|
81
-13%
|
109
+35%
|
94
-14%
|
88
-6%
|
|
| Net Income | ||||||||||||||||||||||||||||||||||
| Tax Provision |
(0)
|
(1)
|
(1)
|
(2)
|
(0)
|
(1)
|
(1)
|
(3)
|
(5)
|
(1)
|
(0)
|
2
|
2
|
(2)
|
(3)
|
(4)
|
(4)
|
(2)
|
(1)
|
(1)
|
0
|
1
|
1
|
3
|
3
|
1
|
1
|
(1)
|
(1)
|
(1)
|
(1)
|
2
|
(4)
|
|
| Income from Continuing Operations |
34
|
33
|
39
|
51
|
53
|
67
|
70
|
77
|
84
|
57
|
50
|
46
|
55
|
92
|
114
|
131
|
26
|
(27)
|
(83)
|
(86)
|
14
|
81
|
146
|
142
|
145
|
136
|
93
|
92
|
92
|
80
|
108
|
96
|
84
|
|
| Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
1
|
1
|
2
|
3
|
3
|
4
|
1
|
(1)
|
(2)
|
|
| Net Income (Common) |
34
N/A
|
33
-2%
|
39
+19%
|
50
+26%
|
49
-1%
|
61
+23%
|
59
-2%
|
63
+5%
|
67
+7%
|
39
-42%
|
33
-15%
|
29
-12%
|
40
+38%
|
75
+89%
|
93
+23%
|
105
+14%
|
(8)
N/A
|
(75)
-847%
|
(131)
-74%
|
(132)
-1%
|
(27)
+79%
|
53
N/A
|
119
+123%
|
116
-3%
|
118
+2%
|
110
-7%
|
69
-38%
|
68
-1%
|
67
-1%
|
56
-17%
|
80
+45%
|
66
-18%
|
53
-19%
|
|
| EPS (Diluted) |
1.06
N/A
|
1.05
-1%
|
1.02
-3%
|
1.39
+36%
|
1.34
-4%
|
1.47
+10%
|
1.35
-8%
|
1.47
+9%
|
1.6
+9%
|
0.86
-46%
|
0.72
-16%
|
0.66
-8%
|
0.9
+36%
|
1.7
+89%
|
2.09
+23%
|
2.38
+14%
|
-0.18
N/A
|
-1.7
-844%
|
-1.72
-1%
|
-1.57
+9%
|
-0.38
+76%
|
0.64
N/A
|
1.44
+125%
|
1.4
-3%
|
1.44
+3%
|
1.34
-7%
|
0.83
-38%
|
0.83
N/A
|
0.82
-1%
|
0.68
-17%
|
0.98
+44%
|
0.72
-27%
|
0.61
-15%
|
|