KKR Real Estate Finance Trust Inc. (KREF) Q3 2024 Earnings Call Transcript

KKR Real Estate Finance Trust Inc. (NYSE:KREF) Q3 2024 Earnings Conference Call October 22, 2024 10:00 AM ET

Company Participants

Jack Switala – Investor Relations
Matt Salem – Chief Executive Officer
Patrick Mattson – President and Chief Operating Officer
Kendra Decious – Chief Financial Officer

Conference Call Participants

Rick Shane – JP Morgan
Stephen Laws – Raymond James
Jade Rahmani – KBW
Don Fandetti – Wells Fargo
Tom Catherwood – BTIG
Steve Delaney – Citizens JMP Securities

Operator

Good morning, and welcome to the KKR Real Estate Finance Trust Inc. Third Quarter 2024 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Jack Switala. Please go ahead.

Jack Switala

Great. Thanks, operator, and welcome to the KKR Real Estate Finance Trust earnings call for the third quarter of 2024. As the operator mentioned, this is Jack Switala. This morning, I’m joined on the call by our CEO, Matt Salem; our President and COO, Patrick Mattson; and our CFO, Kendra Decious.

I’d like to remind everyone that we will refer to certain non-GAAP financial measures on the call, which are reconciled to GAAP figures in our earnings release and in the supplementary presentation, both of which are available on the investor relations portion of our website. This call will also contain certain forward-looking statements, which do not guarantee future events or performance. Please refer to our most recently filed 10-Q for cautionary factors related to these statements.

Before I turn the call over to Matt, I’ll provide a brief recap of our results. For the third quarter of 2024, we reported GAAP net loss of negative $13 million or negative $0.19 per