Filing Flows › Franklin BSP Realty Trust (FBRT) › Q2 2026
Franklin BSP Realty Trust (FBRT) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 29, 2026
Franklin BSP Realty Trust (FBRT) reported revenue of $65.3M for the second quarter 2026 (Q2 2026), +32% from a year earlier and -12% from the quarter before. Operating margin was 20.5%, net earnings $15.6M (23.8% of revenue).
Franklin BSP Realty Trust, Q2 2026: revenue $65.3M (+32% year over year), operating margin 20.5%, net earnings $15.6M, operating cash flow $48.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $65.3M | -12% | +32% |
| Operating profit | $13.4M | +1% | -45% |
| Net earnings | $15.6M | +30% | -33% |
| Operating cash flow | $48.3M | — | +308% |
| Free cash flow | $48.1M | — | +322% |
What changed
Revenue was $65.3M in Q2 2026, up 32% year over year and down 12% from the previous quarter.
Operating profit was $13.4M, a 20.5% margin (down 28.6 points year over year). Operating profit fell $10.9M even though revenue rose $16.0M versus Q2 2025, so costs grew faster than sales. Total costs grew 107% against revenue growth of 32%. The fastest-growing cost line was Other operating costs (+135%). Net earnings were $15.6M, down 33% year over year. The effective tax rate was -21.6%.
Operating cash flow was $48.3M (up 308% year over year), 297% of net income including minority interests. Non-cash charges added back $2.0M of depreciation and amortization and $2.5M of share-based compensation. Working capital and other items added $27.6M. Capital expenditures of $191K left free cash flow of $48.1M.
Questions
What was Franklin BSP Realty Trust's revenue in the second quarter 2026?
Franklin BSP Realty Trust (FBRT) reported revenue of $65.3M for the second quarter 2026 (Q2 2026), +32% from a year earlier and -12% from the quarter before.
Was Franklin BSP Realty Trust profitable in the second quarter 2026?
Operating profit was $13.4M (20.5% of revenue) and net earnings $15.6M.