Starwood Property Trust Inc. (STWD) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, we apologize for the technical difficulties. Welcome to the Starwood Property Trust second quarter 2026 earnings conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to send the floor over to Starwood Property Trust to begin the event. Thank you, operator. Good morning and welcome to Starwood Property Trust Earnings Call. This morning we filed our 10Q and issued a press release with a presentation of our results, which are both available on our website and have been filed with the SEC. Before the call begins, I would like to remind everyone that certain statements made in the course of this call are forward-looking statements, which do not guarantee future events or performance. Please refer to our 10Q and press release for cautionary factors related to these statements. Additionally, certain non-GAAP financial measures will be discussed on this call. For reconciliation of these non-GAAP financial measures to the most comparable measures prepared in accordance with GAAP, please refer to our press release filed this morning. Joining me on the call today are Barry Sternlicht, the company's chairman and chief executive officer, Jeff DiModica, the company's president, and Rina Paniry, the company's chief financial officer. With that, I am now going to turn the call over to Rina. Thank you, Zach, and good morning, everyone. Our distributable earnings were $152 million, or $0.40 per share, in the second quarter. Our results continue to reflect the carry on our non-accrual and REO ass...