Quarterly ResultMay 7, 2026, 07:07 AM
Chicago Atlantic Q1 Net Income $4.84M, EPS $0.23; Credit Loss Provision Up
AI Summary
Chicago Atlantic Real Estate Finance, Inc. reported a significant decrease in net income for Q1 2026, falling to $4.84 million from $10.04 million in Q1 2025, with basic EPS dropping to $0.23. This decline was primarily driven by a substantial increase in the provision for current expected credit losses. The company's total assets increased to $435.95 million, while total liabilities rose to $132.53 million, partly due to increased revolving loan borrowings. Non-accrual loans saw a reduction to $19.78 million.
Key Highlights
- Net income for Q1 2026 decreased by 51.8% to $4.84 million from $10.04 million in Q1 2025.
- Basic earnings per common share fell to $0.23 in Q1 2026 from $0.48 in Q1 2025.
- Provision for current expected credit losses increased to $3.84 million in Q1 2026 from a benefit of $1.07 million in Q1 2025.
- Loans held for investment, net, decreased slightly to $400.56 million as of March 31, 2026.
- Cash and cash equivalents increased by 86.3% to $27.86 million as of March 31, 2026.
- Total assets grew to $435.95 million, and total liabilities increased to $132.53 million.
- Non-accrual loans decreased to $19.78 million as of March 31, 2026, from $48.80 million.
- A dividend of $0.47 per common share was declared for the quarter.