NYSE$RITM
New Residential Investment Corp · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Rithm Capital Corp. reported a net income of $193.9 million and earnings available for distribution of $280.8 million for the third quarter of 2023.
Rithm Capital Corp. announced its Q3 2023 results, reporting a GAAP net income of $193.9 million, or $0.40 per diluted common share, and earnings available for distribution of $280.8 million, or $0.58 per diluted common share. The company also declared a common dividend of $0.25 per common share. They are focusing on expanding their asset management and third-party servicing business.
- GAAP net income was $193.9 million, or $0.40 per diluted common share.
- Earnings available for distribution reached $280.8 million, or $0.58 per diluted common share.
- A common dividend of $0.25 per common share was declared.
- The company's MSR portfolio totaled $595 billion in unpaid principal balance.
Headline financials
Revenue & EPS history
NRZ · Revenue · Quarterly
$1.09B
Revenue by segment
NRZ · $64.2M total across 2 segments · Q3 2022
- Asset Management$42.3M—66.0%
- Corporate Category$21.8M-41.2%34.0%
Forward guidance
Rithm Capital anticipates closing the Sculptor transaction in the fourth quarter and expects Q4'23 funded origination volume of approximately $7 to $9 billion.
Tailwinds
- Expected closing of the Sculptor transaction in Q4 2023.
- Estimated Q4’23 funded origination volume of approximately $7 to $9 billion.
- Acquisition of Specialized Loan Servicing (SLS) expected to close in Q1'24.
- SLS acquisition includes approximately $136 billion in UPB of MSRs.
- SLS acquisition includes $85 billion in third-party servicing.
Headwinds
- Q4'23 funded origination volume is based on management's current views and estimates.
- Actual results may vary materially.
- SLS acquisition closing is subject to customary closing conditions and approvals.
- The company's investments are subject to interest rate risk.
- Realized and unrealized gains and losses on investments are subject to significant variability.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.9%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+2.2%
Avg return
30 days after
68%
38 / 56 earnings
Positive
+12.5%
Q1 2022
Best reaction
-11.5%
Q3 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.2% | -3.3% | -8.5% | |
| Q4 2025 | +6.0% | -0.6% | -9.4% | |
| Q3 2025 | +0.3% | +0.5% | +5.1% | |
| Q1 2025 | +1.3% | +7.5% | +7.0% | |
| Q4 2024 | +3.7% | +3.1% | +2.9% | |
| Q3 2024 | +3.0% | +0.1% | +6.8% | |
| Q2 2024 | -1.7% | -6.6% | +3.6% | |
| Q1 2024 | -0.6% | +0.9% | -1.2% | |
| Q4 2023 | -4.2% | -1.7% | +3.2% | |
| Q3 2023 | +2.8% | +4.2% | +13.7% | |
| Q2 2023 | -0.4% | +2.3% | +3.4% | |
| Q1 2023 | +1.9% | +2.9% | +11.5% | |
| Q4 2022 | +1.8% | +3.6% | -11.2% | |
| Q3 2022 | -1.4% | +0.8% | +5.9% | |
| Q2 2022 | -6.2% | -9.1% | -16.1% | |
| Q1 2022 | +12.5% | +6.6% | +9.4% | |
| Q4 2021 | +6.1% | +3.7% | +1.3% | |
| Q3 2021 | +0.7% | -0.3% | -5.6% | |
| Q2 2021 | +3.1% | +2.6% | +13.6% | |
| Q1 2021 | -2.2% | -2.4% | +1.7% | |
| Q4 2020 | -2.9% | -3.8% | +7.1% | |
| Q3 2020 | -11.5% | -14.1% | +11.2% | |
| Q2 2020 | -1.1% | -1.5% | -1.8% | |
| Q1 2020 | +0.8% | +8.9% | +36.3% | |
| Q4 2019 | +1.7% | +2.7% | -7.3% | |
| Q3 2019 | -0.6% | -0.3% | -2.7% | |
| Q2 2019 | +1.2% | -0.9% | -9.3% | |
| Q1 2019 | -0.9% | -0.8% | -9.3% | |
| Q4 2018 | +1.7% | +1.9% | +0.0% | |
| Q3 2018 | -1.1% | +0.5% | -5.0% | |
| Q2 2018 | -4.4% | -3.8% | -1.3% | |
| Q1 2018 | +3.2% | +4.3% | +6.8% | |
| Q4 2017 | +1.1% | +1.5% | +2.3% | |
| Q3 2017 | +2.2% | +3.8% | +4.5% | |
| Q2 2017 | +6.9% | +4.9% | +2.1% | |
| Q1 2017 | +1.7% | +0.4% | -3.5% | |
| Q4 2016 | +3.0% | +3.1% | +2.9% | |
| Q3 2016 | +0.4% | +3.0% | +11.2% | |
| Q2 2016 | +3.4% | +4.2% | +4.6% | |
| Q1 2016 | +5.2% | — | — | |
| Q4 2015 | +4.3% | — | — | |
| Q3 2015 | -2.4% | — | — | |
| Q2 2015 | +0.1% | — | — | |
| Q1 2015 | +1.7% | — | — | |
| Q4 2014 | +1.6% | — | — | |
| Q3 2014 | +0.5% | — | — | |
| Q2 2014 | +5.2% | — | — | |
| Q1 2014 | -2.5% | — | — | |
| Q4 2012 | +0.9% | — | — | |
| Q4 2013 | +1.9% | — | — | |
| Q3 2012 | +5.6% | — | — | |
| Q3 2013 | -7.1% | — | — | |
| Q2 2012 | -0.9% | — | — | |
| Q1 2012 | +1.9% | — | — | |
| Q2 2013 | +1.9% | — | — | |
| Q1 2013 | +1.9% | — | — |
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