Rithm Capital Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw robust performance across all divisions, with $338.9M EAD and $20.2M GAAP net income. Asset management AUM reached $61B, and Newrez, Genesis, and Elecor all posted strong growth. Focus remains on performance, risk management, and expanding third-party business.
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Strong Q1 results with robust earnings, record loan production at Genesis, and continued growth in asset management and mortgage segments. Elecor rebranding and operational efficiencies, plus technology-driven cost reductions at Newrez, position the firm for further growth.
Fiscal Year 2025
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Record 2025 results driven by strong asset management and mortgage performance, with EAD up 12% and major acquisitions expanding the platform. Paramount and Crestline deals boosted real estate and credit capabilities, while technology investments and disciplined growth position the firm for continued success.
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Earnings reached $300M with 18% ROE, driven by strong performance across all segments. Major acquisitions of Crestline and Paramount will expand offerings and asset management capabilities, funded without new equity. Cash and liquidity remain robust post-acquisition.
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The acquisition secures Class A office assets in prime U.S. markets at a deep discount, aiming to leverage market recovery and expand asset management capabilities. The deal is structured to minimize balance sheet risk, with strong co-investor interest and projected long-term value creation.
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Strong quarterly results with $283.9M net income, record origination at Genesis, and robust growth at NewRez and Sculptor. Asset management and servicing segments expanded, with technology and AI driving efficiency. Focus remains on scaling credit, insurance, and M&A.
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Earnings available for distribution rose 8% year-over-year to $0.52 per share, with strong performance across all business lines and continued growth in asset management and mortgage servicing. Management is focused on unlocking shareholder value through capital actions and expanding off-balance sheet businesses.
Fiscal Year 2024
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Delivered strong Q4 and full year 2024 results, with 27% earnings growth and robust performance in asset management, mortgage origination, and servicing. Strategic initiatives include expanding third-party capital, launching an energy infrastructure platform, and exploring capital structure changes.
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Q3 2024 saw strong results across lending, servicing, and asset management, with earnings available for distribution exceeding dividends for the 20th consecutive quarter. Book value rose to $12.5 per share in October, and the company remains focused on performance, prudent capital deployment, and growth in private capital and direct lending.
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Q2 saw strong earnings, robust segment performance, and key acquisitions, with a focus on direct lending, asset management, and capital efficiency. The company is well-positioned for expected Fed rate cuts and sees ongoing opportunity in private credit and commercial real estate.