BrightSpire Capital, Inc. (NYSE:BRSP) Q4 2022 Earnings Conference Call February 21, 2023 10:00 AM ET
Company Participants
David Palame - General Counsel
Mike Mazzei - Chief Executive Officer
Andy Witt - President and Chief Operating Officer
Frank Saracino - Chief Financial Officer
Conference Call Participants
Steve Delaney - JMP Securities
Eric Hagen - BTIG
Jason Sabshon - KBW
Operator
Greetings and welcome to the BrightSpire Capital Inc. Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, David Palame, General Counsel. Thank you, David. You may begin.
David Palame
Good morning and welcome to BrightSpire Capital’s fourth quarter and full year 2022 earnings conference call. We will refer to BrightSpire Capital as BrightSpire, BRSP or the company throughout this call.
Speaking on the call today are the company’s Chief Executive Officer, Mike Mazzei; President and Chief Operating Officer, Andy Witt; and Chief Financial Officer, Frank Saracino.
Before I end over the call, please note that on this call, certain information presented contains forward-looking statements. These statements are based on management’s current expectations and are subject to risks, uncertainties and assumptions. Potential risks and uncertainties could cause the company’s business and financial results to differ materially. For a discussion of risks that could affect results, please see the Risk Factors section of our most recent 10-Q and other risk factors and forward-looking statements in the company’s current and periodic reports filed with the SEC from time-to-time. All information discussed on this call is as of today, February 21, 2023 and the company does not intend and undertakes no duty to update for future events or circumstances.
In addition, certain financial information presented on this call represents non-GAAP financial measures. The company’s earnings release and supplemental presentation, which was released this morning and is available on the company’s website, presents reconciliation to the appropriate GAAP measures and an explanation of why the company believes such non-GAAP financial measures are useful to investors.
Before I turn the call over to Mike, I will provide a brief recap of our results. The company reported fourth quarter 2022 GAAP net income attributable to common stockholders of $4.2 million or $0.03 per share, distributable earnings of $34.2 million or $0.27 per share and adjusted distributable earnings of $35 million or $0.27 per share. The company also reported GAAP net book value of $10.77 per share and undepreciated book value of $12.06 per share as of December 31, 2022.