Atrium Mortgage Investment (AI) Q3 2026 earnings summary

Executive summary

• Q3 net income was $10.5M and basic EPS was $0.22, down from $11.9M and $0.25 YoY; higher credit-loss provisions and lower interest income weighed on earnings.

• Mortgage portfolio reached $869.1M at Sept. 30; management expects active Q4 originations and targets a ~$900M portfolio by year-end.

Financial highlights

• Q3 revenue was $18.7M, down 11.0% YoY; 9M revenue was $57.2M, down 10.8%.

• Q3 basic and diluted EPS were $0.22 vs. $0.25 YoY; 9M EPS was $0.71 vs. $0.78 and exceeded regular dividends of $0.6975 per share.

• Q3 provision for credit losses was $1.455M vs. $1.297M in Q3 2025; 9M provision was $2.243M vs. $3.452M.

• Mortgage portfolio was $869.1M, up 1% QoQ from $860.1M but 5.2% below $917.1M at year-end 2025.

Outlook and guidance

• Management expects active Q4 mortgage business and reaffirmed a ~$900M year-end portfolio target.

• B.C. funded-loan production is forecast at up to $40M in Q4, with more than $80M anticipated in calendar 2026; Western Canada is targeted to reach up to 40% of the portfolio over time.

• Prospective originations are generally expected to support a mortgage rate of 8.64% or higher; a potential large, lower-rate Alberta apartment loan may be offset by fees.

• Construction loans were 6.7% of the portfolio; management expects gradual growth but not above 10%-15% until market conditions improve.