Broadmark Realty: Q2 Earnings Snapshot

August 8, 2022 GMT

SEATTLE (AP) _ Broadmark Realty Capital Inc. (BRMK) on Monday reported second-quarter profit of $15.9 million.

The Seattle-based company said it had net income of 12 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 16 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The company posted revenue of $28.5 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $29.9 million.

Broadmark Realty shares have declined 21% since the beginning of the year. In the final minutes of trading on Monday, shares hit $7.47, a fall of 29% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BRMK at https://www.zacks.com/ap/BRMK