Filing Flows › Starwood Property Trust (STWD) › Q3 2026
Starwood Property Trust (STWD) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 6, 2026
Starwood Property Trust (STWD) reported revenue of $546M for the third quarter 2026 (Q3 2026), +12% from a year earlier and +6% from the quarter before. Operating margin was -53.8%, net loss $381M (69.8% of revenue).
Starwood Property Trust, Q3 2026: revenue $546M (+12% year over year), operating margin -53.8%, net loss $381M, operating cash flow $231M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $546M | +6% | +12% |
| Operating profit | −$294M | — | — |
| Net earnings | −$381M | -2640% | -577% |
| Operating cash flow | $231M | +35% | -32% |
What changed
Revenue was $545.9M in Q3 2026, up 12% year over year and up 6% from the previous quarter.
Operating costs exceeded revenue by $293.9M, an operating margin of -53.8%. Total costs grew 72% against revenue growth of 12%. The fastest-growing cost line was Other operating costs (+80%). The quarter ended with a net loss of $381.2M, after a profit of $15.0M the previous quarter.
Operating cash flow was $231.2M (down 32% year over year). Non-cash charges added back $36.6M of depreciation and amortization. Working capital and other items added $575.8M.
Questions
What was Starwood Property Trust's revenue in the third quarter 2026?
Starwood Property Trust (STWD) reported revenue of $546M for the third quarter 2026 (Q3 2026), +12% from a year earlier and +6% from the quarter before.
Was Starwood Property Trust profitable in the third quarter 2026?
Operating loss was $294M (-53.8% of revenue) and net loss $381M.