Filing Flows › TPG RE Finance Trust (TRTX) › Q3 2026 › vs Q2 2026
TPG RE Finance Trust (TRTX) Q3 2026 vs Q2 2026 (quarter over quarter)
TPG RE Finance Trust's revenue rose $1.9M (+6%) from $34.0M in Q2 2026 to $35.9M in Q3 2026. The biggest changes: Net interest income +$3.0M (+13%); Noninterest income −$1.1M (-11%). Operating margin 26.4% against 38.9% (-12.6 pts).
TPG RE Finance Trust, Q3 2026: revenue $35.9M (-5% year over year), operating margin 26.4%, net earnings $9.4M, operating cash flow $14.4M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 26.4% | 38.9% | -12.6 pts |
| Net margin | 26.1% | 38.6% | -12.5 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Net interest income | $26.7M | $23.7M | $3.0M | +13% |
| Noninterest income | $9.2M | $10.3M | −$1.1M | -11% |
| Revenue | $35.9M | $34.0M | $1.9M | +6% |
| Operating profit | $9.5M | $13.2M | −$3.8M | -28% |
| Costs & expenses | $26.5M | $20.8M | $5.7M | +27% |
| Pre-tax earnings | $9.5M | $13.2M | −$3.8M | -28% |
| Credit loss provision | $8.6M | $3.6M | $5.0M | +141% |
| Other operating costs | $17.9M | $17.2M | $669K | +4% |
| Net earnings | $9.4M | $13.1M | −$3.8M | -29% |
| Income tax | $104K | $101K | $3K | +3% |
| Depreciation | $1.9M | $1.9M | $0 | 0% |
| Share-based compensation | $1.3M | $2.1M | −$826K | -40% |
| Working capital & other | $1.9M | $4.4M | −$2.6M | -58% |
| Operating cash flow | $14.4M | $21.6M | −$7.2M | -33% |
Questions
How much did TPG RE Finance Trust's revenue grow quarter over quarter in Q3 2026?
TPG RE Finance Trust's revenue rose $1.9M (+6%) from $34.0M in Q2 2026 to $35.9M in Q3 2026.
What drove TPG RE Finance Trust's revenue change in Q3 2026?
Net interest income +$3.0M (+13%); Noninterest income −$1.1M (-11%).