Filing Flows › Franklin BSP Realty Trust (FBRT) › Q3 2026
Franklin BSP Realty Trust (FBRT) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 28, 2026
Franklin BSP Realty Trust (FBRT) reported revenue of $74.9M for the third quarter 2026 (Q3 2026), -16% from a year earlier and +15% from the quarter before. Operating margin was -46.8%, net loss $27.0M (36.1% of revenue).
Franklin BSP Realty Trust, Q3 2026: revenue $74.9M (-16% year over year), operating margin -46.8%, net loss $27.0M, operating cash flow −$89.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $74.9M | +15% | -16% |
| Operating profit | −$35.1M | -362% | -338% |
| Net earnings | −$27.0M | -274% | -256% |
| Operating cash flow | −$89.7M | -286% | — |
What changed
Revenue was $74.9M in Q3 2026, down 16% year over year and up 15% from the previous quarter.
Operating costs exceeded revenue by $35.1M, an operating margin of -46.8%. Total costs grew 47% against a revenue fall of 16%. The fastest-growing cost line was Other operating costs (+50%). The quarter ended with a net loss of $27.0M, after a profit of $16.3M the previous quarter. Minority interests bore $358K of it: to shareholders the quarter was a loss of $26.7M.
Operating cash flow was −$89.7M. Non-cash charges added back $2.2M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items used $66.1M. Capital expenditures of $3.8M exceeded it, leaving free cash flow of −$93.5M.
Questions
What was Franklin BSP Realty Trust's revenue in the third quarter 2026?
Franklin BSP Realty Trust (FBRT) reported revenue of $74.9M for the third quarter 2026 (Q3 2026), -16% from a year earlier and +15% from the quarter before.
Was Franklin BSP Realty Trust profitable in the third quarter 2026?
Operating loss was $35.1M (-46.8% of revenue) and net loss $27.0M.