Manhattan Bridge Capital, Inc. reported second-quarter 2026 results with revenue of $2.045M and net income of $1.153M, while diluted earnings per share were $0.1, all down versus the year-ago quarter amid lower interest rates and origination fees.
Financial Highlights
- Revenue was $2.045M for 2Q 2026, down from $2.355M in the year-ago quarter ( (13.2%)).
- Net income was $1.153M for 2Q 2026, versus $1.413M in the year-ago quarter ( (18.4%)).
- Diluted EPS was $0.10 for 2Q 2026, down from $0.12 in the year-ago quarter ( (16.7%)).
Business Highlights
- Total revenue declined roughly 11–13% year over year, driven by lower rates and reduced origination fees amid increased competition.
- Originations and capital deployment increased year to date, with $29.0M lent YTD and $27.3M collected.
- One Florida borrower, with an outstanding balance of about $935K, became delinquent; foreclosure counsel has been retained and management believes collateral is sufficient.
- General and administrative expenses rose modestly, reflecting higher payroll, legal, appraisal and travel costs as operational activity increased.
- The company continues to focus on selectively growing its first-mortgage portfolio in the New York metro area and Florida to support dividend capacity.
Original SEC Filing:
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