Bridge Investment Group Holdings Inc. (NYSE:BRDG) Q3 2024 Earnings Conference Call November 7, 2024 9:30 AM ET

Company Participants

Bonni Rosen - Head, Shareholder Relations
Robert Morse - Executive Chairman
Jonathan Slager - Chief Executive Officer
Katie Elsnab - Chief Financial Officer
Dean Allara - Vice Chairman

Conference Call Participants

Mike Brown - Wells Fargo Securities
Ken Worthington - JPMorgan
Michael Cyprys - Morgan Stanley

Operator

Thank you for standing by. My name is Mark and I will be your conference operator today. At this time, I would like to welcome everyone to the Bridge Investments Group 3Q 2024 Earnings Call and Webcast. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the call over to Bonni Rosen, Head of Shareholder Relations. Bonni?

Bonni Rosen

Thank you. Good morning everyone. Welcome to the Bridge Investment Group conference call to review our third quarter 2024 financial results. Prepared remarks include comments from our Executive Chairman, Robert Morse; Chief Executive Officer, Jonathan Slager; and Chief Financial Officer, Katie Elsnab. We will hold a Q&A session following the prepared remarks.

I'd like to remind you that today's call may include forward-looking statements which are uncertain, outside the firm's control, and may differ materially from actual results. We do not undertake any duty to update these statements. For a discussion of some of the risks that could affect results, please see the Risk Factors section of our Form 10-K.

During the call, we will also discuss certain non-GAAP financial metrics. The reconciliation of the non-GAAP metrics are provided in the appendix of our supplemental slides. The supplemental materials are accessible on our IR website at ir.bridgeig.com. These slides can be found under the Presentations portion of the site along with the third quarter earnings call event link. They are also available live during the webcast.

We reported GAAP net income to the company of approximately $10.6 million for the third quarter of 2024. On a diluted basis, net income attributable to Bridge per share of Class A common stock was $0.04.

Distributable earnings of the operating company were $28.2 million or $0.15 per share after tax and our Board of Directors declared a dividend of $0.10 per share which will be paid on December 20th to shareholders of record as of December 6th.