Companies

Apollo Commercial Real Estate Finance Inc

NYSE: ARI
$6.91
â–² $0.10 (+1.44%) today
Markets open · 2:57pm ET

Q4 2025 Earnings

Reported Feb 10, 2026, 9:07pm ET · SEC source
$0.26
Beat +7.71%
EPS · est. $0.24
$73.3M
Beat +58.47%
Revenue · est. $46.2M
+0.3%
Beating market
ARI vs S&P since report
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
0+0.8%+1.6%Feb 10Feb 11report 9:07pm ETearnings−0.1%+0.3%
0+0.8%+1.6%Feb 10Feb 11earnings−0.1%+0.3%
ARI +0.3%S&P 500 −0.1%
−0.8%0+0.8%+1.6%Feb 10Feb 11report 9:07pm ETearnings+0.1%+0.3%
−0.8%0+0.8%+1.6%Feb 10Feb 11earnings+0.1%+0.3%
ARI +0.3%NASDAQ +0.1%
−2%0+2%Feb 10Feb 18report 9:07pm ETearnings−1.0%−0.9%
−2%0+2%Feb 10Feb 18earnings−1.0%−0.9%
ARI −0.9%S&P 500 −1.0%
−2%0+2%Feb 10Feb 18report 9:07pm ETearnings−1.1%−0.9%
−2%0+2%Feb 10Feb 18earnings−1.1%−0.9%
ARI −0.9%NASDAQ −1.1%
−1.12%
Day of report
+0.57%
Next session
+0.66%
One week
−1.23%
30 days

S&P 500 over the same 30 days: −1.54%.

Did ARI Beat Earnings? Q4 2025 Results

Apollo Commercial Real Estate Finance delivered a clear beat to close out 2025, posting distributable earnings of $0.26 per diluted share against a consensus estimate of $0.24, a 7.71% positive surprise, while revenue of $73.25 million ran 58.47% ahead of the $46.23 million Wall Street had penciled in and edged 2.1% higher year over year. The quarter's performance was underpinned by strong loan origination activity, with ARI committing $1.30 billion to new first mortgage loans in Q4 alone at weighted-average yields of 7.6% to 7.9%, helping the overall portfolio reach $8.80 billion across 56 loans. Distributable earnings comfortably covered the $0.25 quarterly dividend, a point of particular relevance given ongoing analyst scrutiny of dividend sustainability. Looking ahead, the company's strategic posture shifted materially with the announcement of a definitive agreement to sell its entire loan portfolio to Athene Holding Ltd. at 99.7% of total loan commitments, a transaction that reshapes ARI's investment narrative considerably as the company carries no corporate debt maturities until June 2029.

Key Takeaways
  • Net interest income of $44.1 million in Q4 driven by $159.5 million interest income from commercial mortgage loans
  • $1.3 billion in new loan commitments in Q4, $4.4 billion for full year 2025
  • Loan repayments and sales of $852 million in Q4, $2.9 billion for full year
  • 99% first mortgage portfolio with 7.3% weighted-average unlevered all-in yield
  • 96% floating rate loans providing interest rate sensitivity
  • Foreign currency translation gains of $99.5 million for full year 2025 vs losses of $37.5 million in 2024
  • Brooklyn multifamily REO with 56% of market units leased

Forward Guidance & Outlook

ARI entered into a definitive agreement with Athene Holding Ltd. to sell the company's entire loan portfolio for a purchase price based on 99.7% of total loan commitments. The company has no corporate debt maturities until June 2029. The company also received a full repayment of an $87 million first mortgage subsequent to quarter end.

ARI YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$30.0M$60.0M$71.7M$73.3MRevenue$40.7M$29.2MNet Income$35.6M$29.8MOperating Income
$0$30.0M$60.0MRevenueNet IncomeOperating Income

ARI Revenue by Segment

Residential Loans
Office Loans
Hotel Loans
Industrial Loans
Data Center Loans
Retail Loans
Other Loans
Mixed Use Loans

ARI Revenue by Geography

United States
United Kingdom
Europe

Figures from SEC filings and company reports. Not investment advice.