Ladder Capital Corp (0JSZ.L) Q4 2024 Earnings Report

Ladder Capital Corp reported a robust fourth quarter (Q4 2024) with strong top-line growth and solid profitability, underscored by a substantial YoY and QoQ improvement in revenue and gross margins. Revenue reached $121.163 million, up 108.3% year over year and 78.5% quarter over quarter, while gross profit rose to $101.838 million (gross margin ~84.05%). Operating income totaled $40.517 million and net income was $31.384 million, translating to an EPS of $0.25 and a net margin of approximately 25.9%. The company generated EBITDA of $91.451 million and an EBITDAR margin of about 0.755, reflecting a high-margin core earnings profile despite a heavy interest burden. However, free cash flow remained negative at $60.1 million for the period, driven by sizable working capital movements and active investing activity that weighed on cash generation.