Burford Capital Ltd

Burford Capital Ltd. reported a significant net loss attributable to shareholders of $1.63 billion for the six months ended June 30, 2026, resulting in a basic loss per share of $7.44. This contrasts sharply with a net income of $119.2 million and EPS of $0.54 in the prior year period. Total revenues for the six-month period were also negative at $1.61 billion, down from $310.1 million in H1 2025. For the second quarter of 2026, the company reported a net income of $2.2 million.

Burford Capital reported Q2 2026 financial results, with GAAP net income attributable to shareholders of $2 million, despite a YTD GAAP net loss of $(1,630) million primarily due to YPF-related asset write-downs. The company highlighted strong cash generation, with Q2 cash receipts reaching $157 million, the highest since Q1 2025. CEO Christopher Bogart noted strong momentum in July, including favorable rulings in a $600+ million mining arbitration and an $83 million US jury verdict. Burford also announced approximately $10 million in annualized compensation expense savings and will not declare an interim dividend this year.

Burford Capital reported a significant net loss of $(1.63) billion for Q1 2026, a sharp decline from a net income of $30.9 million in Q1 2025. This was primarily driven by a substantial capital provision loss of $(2.50) billion, leading to total negative revenues of $(1.72) billion. Basic EPS also fell to $(7.46) from $0.14 in the prior year period.

Burford Capital reported a significant net loss for the first quarter of 2026, with a net loss attributable to shareholders of $(1,632) million. This was primarily driven by a substantial non-cash charge related to the YPF loss on appeal, leading to a $(1,476) million impact on pre-tax net income on a Burford-only basis and a revised fair value of $93 million for YPF-related assets. Despite the loss, the company highlighted its robust business, ample liquidity with over $700 million cash on hand, and an expectation of around $280 million in cash from its portfolio year-to-date. Burford remains optimistic about a positive arbitration outcome for the YPF-related assets and maintains its ambition to double the portfolio base by 2030.