Filing Flows › Apollo Commercial Real Estate Finance (ARI) › Q2 2026
Apollo Commercial Real Estate Finance (ARI) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 10, 2026
Apollo Commercial Real Estate Finance (ARI) reported revenue of $44.4M for the second quarter 2026 (Q2 2026), -37% from a year earlier and -24% from the quarter before. Operating margin was 58.1%, net earnings $25.8M (58.1% of revenue).
Apollo Commercial Real Estate Finance, Q2 2026: revenue $44.4M (-37% year over year), operating margin 58.1%, net earnings $25.8M, operating cash flow $33.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $44.4M | -24% | -37% |
| Operating profit | $25.8M | -2% | +24% |
| Net earnings | $25.8M | -2% | +24% |
| Operating cash flow | $33.9M | +170% | -46% |
| Free cash flow | $24.5M | — | -20% |
What changed
Revenue was $44.4M in Q2 2026, down 37% year over year and down 24% from the previous quarter.
Operating profit was $25.8M, a 58.1% margin (up 28.7 points year over year). Total costs fell 63% while revenue fell 37%. Net earnings were $25.8M, up 24% year over year. The effective tax rate was 0.1%.
Operating cash flow was $33.9M (down 46% year over year), 132% of net earnings. Non-cash charges added back $4.6M of depreciation and amortization and $3.0M of share-based compensation. Capital expenditures of $9.4M left free cash flow of $24.5M.
Questions
What was Apollo Commercial Real Estate Finance's revenue in the second quarter 2026?
Apollo Commercial Real Estate Finance (ARI) reported revenue of $44.4M for the second quarter 2026 (Q2 2026), -37% from a year earlier and -24% from the quarter before.
Was Apollo Commercial Real Estate Finance profitable in the second quarter 2026?
Operating profit was $25.8M (58.1% of revenue) and net earnings $25.8M.
Source: Apollo Commercial Real Estate Finance 10-Q on SEC EDGAR.