Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Q2 2022 Earnings Conference Call July 27, 2022 9:00 AM ET

CompanyParticipants

Weston Tucker - Head of Shareholder Relations

Katie Keenan - Chief Executive Officer

Tony Marone - Chief Financial Officer

Conference Call Participants

Stephen Laws - Raymond James

Don Fandetti - Wells Fargo

Jade Rahmani - KBW

Rick Shane - JPMorgan

Operator

Welcome to the Blackstone Mortgage Trust Second Quarter 2022 Investor Conference Call. [Operator Instructions] I would like to advise everyone that this conference is being recorded.

And with that, I am handing over to Weston Tucker, Head of Shareholder Relations.

Weston Tucker

Terrific. Thank you and good morning and welcome to Blackstone Mortgage Trust Second Quarter Conference Call. I am joined today by Mike Nash, Executive Chairman; Katie Keenan, Chief Executive Officer; Austin Pena, Executive Vice President, Investment; Anthony Marone, Chief Financial Officer; and Tim Hayes, Shareholder Relations.

This morning, we filed our 10-Q and issued a press release with a presentation of our results which are available on our website and have been filed with the SEC. I'd like to remind everyone that today's call may include forward-looking statements which are uncertain and outside of the company's control. Actual results may differ materially. For a discussion of some of the risks that could affect results, please see the Risk Factors section of our most recent 10-K. We do not undertake any duty to update forward-looking statements. We'll also refer to certain non-GAAP measures on the call. And for reconciliations, you should refer to the press release and our 10-Q. This audio cast is copyrighted material of Blackstone Mortgage Trust and may not be duplicated without our consent.

For the second quarter, we reported GAAP net income per share of $0.55, while distributable earnings were $0.67 per share. A few weeks ago, we paid a dividend of $0.62 per share with respect to the second quarter. If you have any questions following today's call, please let Tim or I know.

And with that, I'll now turn things over to Katie.

Katie Keenan

Thanks, Weston. BXMT's standout results this quarter are a testament to the resilience of our business model, even in turbulent markets. Despite a backdrop characterized by widespread volatility, tighter financing availability and slowing real estate transaction volume, we generated higher distributable earnings, grew our portfolio and increased our liquidity position, all while maintaining our strong credit quality. These results underscore the 4 key advantages I outlined last quarter which positioned BXMT exceptionally well to outperform in today's environment.