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Rithm Capital Corp

Rithm Capital Corp. Announces First Quarter 2026 Results

NEW YORK--(BUSINESS WIRE)--Apr. 28, 2026-- Rithm Capital Corp. (NYSE: RITM; “Rithm Capital,” “Rithm” or the “Company”) today reported the following information for the first quarter ended March 31, 2026.

“Despite a challenging and volatile market environment, Rithm delivered strong Q1 results, with Newrez generating a 19% annualized operating ROE(3), Genesis posting 80% year-over-year origination growth, and our asset management platform growing to approximately $60 billion in AUM,” said Michael Nierenberg, CEO of Rithm Capital. “Our diversified owner-operator model is built to perform through disruption, and we are confident the current conditions create compelling opportunities to drive long-term value for our shareholders.”

Financial Highlights:

  • GAAP net income of $67.8 million, or $0.12 per diluted common share(1)
  • Earnings available for distribution of $289.6 million, or $0.51 per diluted common share(1)(2)
  • Common dividend of $139.6 million, or $0.25 per common share
  • Book value per common share of $12.51(1)

 

Q1 2026

 

Q4 2025

Summary Operating Results:

 

 

 

GAAP Net Income per Diluted Common Share(1)

$

0.12

 

$

0.09

GAAP Net Income (in millions)

$

67.8

 

$

53.1

 

 

 

 

Non-GAAP Results:

 

 

 

Earnings Available for Distribution per Diluted Common Share(1)(2)

$

0.51

 

$

0.74

Earnings Available for Distribution(2) (in millions)

$

289.6

 

$

418.9

 

 

 

 

Common Dividend:

 

 

 

Common Dividend per Share

$

0.25

 

$

0.25

Common Dividend (in millions)

$

139.6

 

$

139.0

Business Highlights:

  • Origination & Servicing:
    • Newrez LLC (“Newrez”), Rithm Capital’s multichannel mortgage origination and servicing platform, posted pre-tax operating income of $273.7 million in Q1’26, excluding mortgage servicing rights (“MSRs”) mark-to-market (“MTM”) loss, net of hedges, and other non-operating items of $(23.1) million, up from $249.1 million in Q4’25, excluding MSRs MTM loss, net of hedges, and other non-operating items of $(216.5) million.
    • Newrez generated a 19% annualized operating return on equity (“ROE”)(3) on $5.7 billion of segment equity in Q1’26.
    • Total servicing unpaid principal balance (“UPB”) reached $850 billion at the end of Q1’26, which includes $257 billion UPB of third-party servicing.
    • Origination funded production volume was $15.5 billion in Q1’26, a decrease of 18% quarter over quarter (“QoQ”) and an increase of 31% year over year (“YoY”).
  • Investment Portfolio:
    • Rithm Capital completed four non-qualified mortgage securitizations in Q1’26 totaling $2.0 billion in UPB.
    • Acquired $140 million in home improvement loans in Q1’26 under the previously announced forward flow agreement with Upgrade, Inc., bringing the total purchased to date through quarter-end to $667 million.
  • Residential Transitional Lending:
    • Rithm Capital’s residential transitional lending platform, Genesis Capital LLC (“Genesis Capital”), recorded Q1’26 origination volume of $1.6 billion, a YoY increase of 80%, continuing a series of record volume quarters.
    • Genesis Capital continued to expand its sponsor base, growing new sponsors funded by 118 in Q1’26, a 258% increase YoY. Total sponsors funded for the first quarter of 2026 also expanded to 266, achieving 40% YoY growth.
  • Asset Management:
    • Rithm Asset Management, Rithm Capital’s alternative asset management platform, which primarily includes Sculptor Capital Management Inc. (“Sculptor Capital”) and Crestline Management, L.P. (“Crestline”), had approximately $59 billion of assets under management (“AUM”)(4) as of March 31, 2026, up from $35 billion at quarter end Q1’25, driven by the acquisition of Crestline and additional fund raising activity throughout the year.
    • In Q1’26, Sculptor Capital committed over $1 billion to investments in its latest Real Estate Fund V, representing approximately 20% of capital raised since its inception, and it deployed over $2 billion in capital into corporate credit and asset-based finance investments.
    • Sculptor Capital also continued its active presence in the collateralized loan obligation (“CLO”) markets with a new U.S. CLO for approximately $400 million of AUM in the first quarter of 2026.
    • Crestline raised $100 million in net inflows in Q1’26 for its private perpetual business development company, Crestline Lending Solutions Fund, from institutional investors, bringing total commitments to over $500 million.
  • Commercial Real Estate:
    • Rebranded the Company’s commercial real estate platform Paramount Group to Elecor Properties (“Elecor”) to align the corporate brand with the vision to elevate the portfolio, properties and tenant experience.
    • Elecor, Rithm Capital’s recently acquired owner and operator of Class A office properties in New York and San Francisco, witnessed continued leasing momentum with New York City lease occupancy increasing by 4.7% YoY, and with over 350k square feet of new lease activity, 74% of which is in the San Francisco portfolio.
    • Refinanced 1325 Avenue of the Americas through a single-asset, single borrower commercial mortgage-backed securities financing.

(1)

Per diluted common share calculations for both GAAP Net Income and Earnings Available for Distribution are based on 565,927,074 and 564,691,202 weighted average diluted shares for the quarters ended March 31, 2026 and December 31, 2025, respectively. The per share calculation of Book Value is based on 557,902,002 common shares outstanding as of March 31, 2026.

 

(2)

Earnings Available for Distribution is a non-GAAP financial measure. For a reconciliation of Earnings Available for Distribution to GAAP Net Income, as well as an explanation of this measure, please refer to the section entitled Non-GAAP Financial Measures and Reconciliation to GAAP Net Income below.

 

(3)

Q1’26 annualized operating ROE is a non-GAAP measure. Q1’26 annualized operating ROE is calculated based on annualized pre-tax operating income of $273.7 million, excluding MSRs MTM loss, net of hedges, and other non-operating items of $(23.1) million, divided by the average Origination and Servicing segment ending equity of $5.7 billion.

 

(4)

AUM is estimated and refers to the value of assets for which Rithm Capital and its affiliates provide discretionary investment management or advisory services. AUM is generally calculated as the sum of: (i) the net asset value of managed accounts and open-ended funds or gross asset value of real estate and real estate funds, (ii) uncalled capital commitments and (iii) par value of structured credit vehicles (e.g., collateralized loan obligations). AUM includes amounts that are not subject to management fees, incentive income or other amounts earned on AUM. AUM also includes amounts that are invested in other affiliated funds/vehicles. Rithm Capital's calculation of AUM is intended to provide a consistent and comparable measure of managed assets across its businesses; however it is not based on any specific regulatory definition and may differ from similarly titled measures presented by other asset managers and, as a result, may not be comparable.

ADDITIONAL INFORMATION

For additional information that management believes to be useful for investors, please refer to the latest presentation posted on the Investors - News section of the Company’s website, www.rithmcap.com. Information on, or accessible through, our website is not a part of, and is not incorporated into, this press release.

EARNINGS CONFERENCE CALL

Rithm Capital’s management will host a conference call on Tuesday, April 28, 2026 at 8:00 A.M. Eastern Time. A copy of the earnings release will be posted to the Investors - Events & Presentations section of Rithm Capital’s website, www.rithmcap.com.

The conference call may be accessed by dialing 1-833-974-2382 (from within the U.S.) or 1-412-317-5787 (from outside of the U.S.) ten minutes prior to the scheduled start of the call; please reference “Rithm Capital First Quarter 2026 Earnings Call.” In addition, participants are encouraged to pre-register for the conference call at https://dpregister.com/sreg/10208453/103db8ca815.

A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.rithmcap.com. Please allow extra time prior to the call to visit the website and download any necessary software required to listen to the internet broadcast.

A telephonic replay of the conference call will also be available two hours following the call’s completion through 11:59 P.M. Eastern Time on Tuesday, May 5, 2026, by dialing 1-855-669-9658 (from within the U.S.) or 1-412-317-0088 (from outside of the U.S.); please reference access code “2668521”.

Rithm Capital Corp. and Subsidiaries

Consolidated Statements of Operations (Unaudited)

($ in thousands, except share and per share data)

 

 

Three Months Ended

 

March 31,

2026

 

December 31,

2025

Revenues

 

 

 

Servicing fee revenue, net and interest income from MSRs and MSR financing receivables

$

579,288

 

 

$

570,070

 

Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(211,456) and $(232,554), respectively)

 

(204,229

)

 

 

(421,815

)

Servicing revenue, net

 

375,059

 

 

 

148,255

 

Interest income

 

461,877

 

 

 

500,814

 

Gain on originated residential mortgage loans, held-for-sale, net

 

208,250

 

 

 

203,731

 

Asset management revenue

 

106,587

 

 

 

359,489

 

Rental revenue

 

191,691

 

 

 

46,202

 

Other revenue

 

36,772

 

 

 

32,258

 

 

 

1,380,236

 

 

 

1,290,749

 

Expenses

 

 

 

Interest expense and warehouse line fees

 

430,662

 

 

 

422,821

 

General, administrative and operating

 

336,002

 

 

 

261,366

 

Compensation and benefits

 

378,410

 

 

 

453,932

 

Depreciation and amortization

 

92,644

 

 

 

35,985

 

 

 

1,237,718

 

 

 

1,174,104

 

Other Income (Loss)

 

 

 

Realized and unrealized gains (losses), net

 

(15,154

)

 

 

50,876

 

Other income (loss), net

 

26,876

 

 

 

38,804

 

 

 

11,722

 

 

 

89,680

 

Income before Income Taxes

 

154,240

 

 

 

206,325

 

Income tax expense (benefit)

 

44,762

 

 

 

115,747

 

Net Income

 

109,478

 

 

 

90,578

 

Non-controlling interests in income of consolidated subsidiaries

 

(146

)

 

 

1,234

 

Redeemable non-controlling interests in income of consolidated subsidiaries

 

6,946

 

 

 

4,353

 

Net Income Attributable to Rithm Capital Corp.

 

102,678

 

 

 

84,991

 

Change in redemption value of redeemable non-controlling interests

 

—

 

 

 

—

 

Dividends on preferred stock

 

34,847

 

 

 

31,875

 

Net Income Attributable to Common Stockholders

$

67,831

 

 

$

53,116

 

 

 

 

 

Net Income per Share of Common Stock

 

 

 

Basic

$

0.12

 

 

$

0.10

 

Diluted

$

0.12

 

 

$

0.09

 

Weighted Average Number of Shares of Common Stock Outstanding

 

 

 

Basic

 

556,720,287

 

 

 

555,021,130

 

Diluted

 

565,927,074

 

 

 

564,691,202

 

 

 

 

 

Dividends Declared per Share of Common Stock

$

0.25

 

 

$

0.25

 

Rithm Capital Corp. and Subsidiaries

Consolidated Balance Sheets

($ in thousands, except share and per share data)

 

 

March 31, 2026

(Unaudited)

 

December 31, 2025

Assets

 

 

 

Mortgage servicing rights and mortgage servicing rights financing receivables, at fair value

$

10,859,933

 

 

$

10,359,141

 

Government and government-backed securities ($5,041,769 and $5,230,139 at fair value, respectively)

 

5,066,754

 

 

 

5,254,905

 

Residential mortgage loans ($5,083,003 and $5,752,169 at fair value, respectively)(A)

 

5,137,741

 

 

 

5,808,960

 

Consumer loans, held-for-investment, at fair value(A)

 

805,294

 

 

 

784,399

 

Residential transition loans, at fair value

 

3,197,813

 

 

 

2,699,864

 

Residential mortgage loans subject to repurchase

 

4,427,618

 

 

 

3,952,792

 

Real estate, net(A)

 

6,174,559

 

 

 

6,175,735

 

Insurance company investments, at fair value

 

1,021,920

 

 

 

906,454

 

Cash, cash equivalents and restricted cash(A)

 

2,368,374

 

 

 

2,656,938

 

Servicer advances receivable

 

2,865,556

 

 

 

3,090,613

 

Other assets ($3,018,569 and $2,707,456 at fair value, respectively)(A)

 

5,714,249

 

 

 

5,583,976

 

Assets of Consolidated Entities (A) :

 

 

 

Investments, at fair value and other assets

 

5,734,733

 

 

 

5,789,349

 

Total Assets

$

53,374,544

 

 

$

53,063,126

 

Liabilities and Equity

 

 

 

Liabilities

 

 

 

Secured financing agreements(A)

$

13,923,496

 

 

$

13,763,802

 

Secured notes and bonds payable ($134,319 and $143,442 at fair value, respectively)(A)

 

14,827,171

 

 

 

15,203,770

 

Residential mortgage loan repurchase liability

 

4,427,618

 

 

 

3,952,792

 

Unsecured notes, net of issuance costs

 

1,424,635

 

 

 

1,421,088

 

Interest sensitive insurance contract liabilities

 

1,069,355

 

 

 

960,209

 

Dividends payable

 

179,104

 

 

 

178,900

 

Accrued expenses and other liabilities ($610,185 and $638,090 at fair value, respectively)(A)

 

3,085,378

 

 

 

3,349,643

 

Liabilities of Consolidated Entities (A) :

 

 

 

Notes payable, at fair value and other liabilities

 

4,932,492

 

 

 

4,978,212

 

Total Liabilities

 

43,869,249

 

 

 

43,808,416

 

Commitments and Contingencies

 

 

 

Redeemable Noncontrolling Interests of Consolidated Subsidiaries

 

361,138

 

 

 

314,303

 

Stockholders’ Equity

 

 

 

Preferred stock, $0.01 par value, 100,000,000 shares authorized, 67,564,122 and 57,564,122 issued and outstanding, $1,689,104 and $1,439,104 aggregate liquidation preference, respectively

 

1,632,915

 

 

 

1,390,790

 

Common stock, $0.01 par value, 2,000,000,000 shares authorized, 557,902,002 and 555,880,947 issued and outstanding, respectively

 

5,579

 

 

 

5,559

 

Additional paid-in capital

 

6,998,267

 

 

 

6,982,991

 

Accumulated deficit

 

(99,976

)

 

 

(19,945

)

Accumulated other comprehensive income

 

73,292

 

 

 

71,092

 

Stockholders’ Equity in Rithm Capital Corp.

 

8,610,077

 

 

 

8,430,487

 

Non-controlling interests in equity of consolidated subsidiaries

 

534,080

 

 

 

509,920

 

Total Stockholders’ Equity

 

9,144,157

 

 

 

8,940,407

 

Total Liabilities and Equity

$

53,374,544

 

 

$

53,063,126

 

(A)

The Company's consolidated balance sheets include assets and liabilities of consolidated variable interest entities (“VIEs”) and certain other consolidated VIEs, including funds and collateralized financing entities that are presented separately within assets and liabilities of consolidated entities. VIE assets can only be used to settle obligations and liabilities of the VIEs. VIE creditors do not have recourse to Rithm Capital Corp.

NON-GAAP FINANCIAL MEASURES AND RECONCILIATION TO GAAP NET INCOME

The Company has four primary variables that impact its performance: (i) net interest margin on assets held within the investment portfolio; (ii) realized and unrealized gains or losses on assets held within the investment portfolio and operating companies, including any impairment or reserve for expected credit losses; (iii) income from the Company’s operating company investments; and (iv) the Company’s operating expenses and taxes.

“Earnings available for distribution” is a non-GAAP financial measure of the Company’s operating performance, which is used by management to evaluate the Company’s performance, excluding: (i) net realized and unrealized gains and losses on certain assets and liabilities; (ii) net other income and losses; (iii) non-capitalized transaction-related expenses; (iv) depreciation and amortization on real estate investment properties; (v) straight-line rental income on commercial real estate properties; and (vi) deferred taxes.

The Company’s definition of earnings available for distribution excludes certain realized and unrealized losses, which although they represent a part of the Company’s recurring operations, are subject to significant variability and are generally limited to a potential indicator of future economic performance. Within net other income and losses, management primarily excludes (i) equity-based compensation expenses, (ii) non-cash deferred interest expense, (iii) amortization expense related to intangible assets and debt acquired below or above market prices and (iv) straight-line rental income on commercial real estate properties, as management does not consider this non-cash activity to be a component of earnings available for distribution. With regard to non-capitalized transaction-related expenses, management does not view these costs as part of the Company’s core operations, as they are considered by management to be similar to realized losses incurred at acquisition. Non-capitalized transaction related expenses generally relate to legal and valuation service costs, as well as other professional service fees, incurred when the Company acquires certain investments, as well as costs associated with the acquisition and integration of acquired businesses. Management also excludes deferred taxes because the Company believes deferred taxes are not representative of current operations.

Management believes that the adjustments to compute “earnings available for distribution” specified above allow investors and analysts to readily identify and track the operating performance of the assets that form the core of the Company’s activity, assist in comparing the core operating results between periods and enable investors to evaluate the Company’s current core performance using the same financial measure that management uses to operate the business. Management also utilizes earnings available for distribution as a financial measure in its decision-making process relating to improvements to the underlying fundamental operations of the Company’s investments, as well as the allocation of resources between those investments, and management also relies on earnings available for distribution as an indicator of the results of such decisions. Earnings available for distribution excludes certain recurring items, such as gains and losses (including impairment and reserves as well as derivative activities) and non-capitalized transaction-related expenses, because they are not considered by management to be part of the Company’s core operations for the reasons described herein. As such, earnings available for distribution is not intended to reflect all of the Company’s activity and should be considered as only one of the factors used by management in assessing the Company’s performance, along with GAAP net income which is inclusive of all of the Company’s activities.

The Company views earnings available for distribution as a consistent financial measure of its portfolio’s ability to generate income for distribution to common stockholders. Earnings available for distribution does not represent and should not be considered as a substitute for, or superior to, net income or as a substitute for, or superior to, cash flows from operating activities, each as determined in accordance with GAAP, and the Company’s calculation of this financial measure may not be comparable to similarly entitled financial measures reported by other companies. Furthermore, to maintain qualification as a REIT, U.S. federal income tax law generally requires that the Company distribute at least 90% of its REIT taxable income annually, determined without regard to the deduction for dividends paid and excluding net capital gains. Because the Company views earnings available for distribution as a consistent financial measure of its ability to generate income for distribution to common stockholders, earnings available for distribution is one metric, but not the exclusive metric, that the Company’s board of directors uses to determine the amount, if any, and the payment date of dividends on common stock. However, earnings available for distribution should not be considered as an indication of the Company’s taxable income, a guaranty of its ability to pay dividends or as a proxy for the amount of dividends it may pay, as earnings available for distribution excludes certain items that impact its cash needs.

Reconciliation of Non-GAAP Measure to the Respective GAAP Measure

The table below provides a reconciliation of earnings available for distribution to the most directly comparable GAAP financial measure (dollars in thousands, except share and per share data):

 

Three Months Ended

 

March 31,

2 026

 

December 31,

2 025

Net income attributable to common stockholders - GAAP

$

67,831

 

$

53,116

Adjustments:

 

 

 

Realized and unrealized losses, net, including MSR change in valuation inputs and assumptions

 

71,844

 

 

166,648

Other loss, net

 

15,633

 

 

26,330

Depreciation and amortization

 

87,280

 

 

27,824

Non-capitalized transaction-related expenses

 

8,330

 

 

33,373

Deferred taxes

 

38,718

 

 

111,614

Earnings available for distribution - Non-GAAP

$

289,636

 

$

418,905

 

 

 

 

Net income per diluted share

$

0.12

 

$

0.09

Earnings available for distribution per diluted share

$

0.51

 

$

0.74

 

 

 

 

Weighted average number of shares of common stock outstanding, diluted

 

565,927,074

 

 

564,691,202

SEGMENT INFORMATION

($ in thousands)

 

First Quarter Ended March 31, 2026

 

Origination

and

Servicing

 

Residential

Transitional

Lending

 

Asset

Management

 

Investment

Portfolio

 

Commercial

Real Estate

 

Corporate

Category

 

Total

Servicing fee revenue, net and interest income from MSRs and MSR financing receivables

 

$

579,288

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

579,288

 

Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(211,456))

 

 

(204,229

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(204,229

)

Servicing revenue, net

 

 

375,059

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

375,059

 

Interest income

 

 

234,877

 

 

 

87,659

 

 

 

38,897

 

 

 

95,967

 

 

 

1,832

 

 

 

2,645

 

 

 

461,877

 

Gain on originated residential mortgage loans, held-for-sale, net

 

 

194,972

 

 

 

—

 

 

 

—

 

 

 

13,278

 

 

 

—

 

 

 

—

 

 

 

208,250

 

Asset management revenue

 

 

—

 

 

 

—

 

 

 

104,818

 

 

 

—

 

 

 

1,769

 

 

 

—

 

 

 

106,587

 

Rental revenue

 

 

—

 

 

 

—

 

 

 

—

 

 

 

20,487

 

 

 

171,204

 

 

 

—

 

 

 

191,691

 

Other revenue

 

 

23,333

 

 

 

—

 

 

 

—

 

 

 

6,385

 

 

 

7,054

 

 

 

—

 

 

 

36,772

 

Total Revenue

 

 

828,241

 

 

 

87,659

 

 

 

143,715

 

 

 

136,117

 

 

 

181,859

 

 

 

2,645

 

 

 

1,380,236

 

Interest expense and warehouse line fees

 

 

215,797

 

 

 

35,659

 

 

 

6,173

 

 

 

76,555

 

 

 

58,462

 

 

 

38,016

 

 

 

430,662

 

Other segment expenses

 

 

151,269

 

 

 

6,537

 

 

 

49,811

 

 

 

25,109

 

 

 

84,000

 

 

 

19,276

 

 

 

336,002

 

Compensation and benefits

 

 

207,074

 

 

 

20,822

 

 

 

113,016

 

 

 

5,115

 

 

 

11,282

 

 

 

21,101

 

 

 

378,410

 

Depreciation and amortization

 

 

6,088

 

 

 

1,943

 

 

 

11,526

 

 

 

8,482

 

 

 

64,605

 

 

 

—

 

 

 

92,644

 

Total Operating Expenses

 

 

580,228

 

 

 

64,961

 

 

 

180,526

 

 

 

115,261

 

 

 

218,349

 

 

 

78,393

 

 

 

1,237,718

 

Realized and unrealized gains (losses), net

 

 

—

 

 

 

(606

)

 

 

(1,394

)

 

 

(13,034

)

 

 

(120

)

 

 

—

 

 

 

(15,154

)

Other income (loss), net

 

 

2,614

 

 

 

1,055

 

 

 

9,476

 

 

 

11,694

 

 

 

2,035

 

 

 

2

 

 

 

26,876

 

Total Other Income (Loss)

 

 

2,614

 

 

 

449

 

 

 

8,082

 

 

 

(1,340

)

 

 

1,915

 

 

 

2

 

 

 

11,722

 

Income (Loss) before Income Taxes

 

$

250,627

 

 

$

23,147

 

 

$

(28,729

)

 

$

19,516

 

 

$

(34,575

)

 

$

(75,746

)

 

$

154,240

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets

 

$

28,311,493

 

 

$

4,505,746

 

 

$

4,504,047

 

 

$

9,905,297

 

 

$

5,902,572

 

 

$

245,389

 

 

$

53,374,544

 

Stockholders' Equity in Rithm Capital Corp.

 

$

5,797,840

 

 

$

934,217

 

 

$

1,282,840

 

 

$

1,564,567

 

 

$

1,249,074

 

 

$

(2,218,461

)

 

$

8,610,077

 

Fourth Quarter Ended December 31, 2025

 

Origination

and

Servicing

 

Residential Transitional

Lending

 

Asset

Management

 

Investment

Portfolio

 

Commercial

Real Estate

 

Corporate

Category

 

Total

Servicing fee revenue, net and interest income from MSRs and MSR financing receivables

 

$

570,070

 

 

$

—

 

$

—

 

$

—

 

$

—

 

 

$

—

 

 

$

570,070

 

Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(232,554))

 

 

(421,815

)

 

 

—

 

 

—

 

 

—

 

 

—

 

 

 

—

 

 

 

(421,815

)

Servicing revenue, net

 

 

148,255

 

 

 

—

 

 

—

 

 

—

 

 

—

 

 

 

—

 

 

 

148,255

 

Interest income

 

 

305,075

 

 

 

82,075

 

 

16,470

 

 

93,696

 

 

337

 

 

 

3,161

 

 

 

500,814

 

Gain on originated residential mortgage loans, held-for-sale, net

 

 

188,023

 

 

 

—

 

 

—

 

 

15,708

 

 

—

 

 

 

—

 

 

 

203,731

 

Asset management revenue

 

 

—

 

 

 

—

 

 

359,229

 

 

—

 

 

260

 

 

 

—

 

 

 

359,489

 

Rental revenue

 

 

—

 

 

 

—

 

 

—

 

 

20,369

 

 

25,833

 

 

 

—

 

 

 

46,202

 

Other revenue

 

 

24,556

 

 

 

—

 

 

—

 

 

6,602

 

 

1,100

 

 

 

—

 

 

 

32,258

 

Total Revenue

 

 

665,909

 

 

 

82,075

 

 

375,699

 

 

136,375

 

 

27,530

 

 

 

3,161

 

 

 

1,290,749

 

Interest expense and warehouse line fees

 

 

254,331

 

 

 

34,960

 

 

6,720

 

 

87,927

 

 

8,188

 

 

 

30,695

 

 

 

422,821

 

Other segment expenses

 

 

159,952

 

 

 

9,073

 

 

48,215

 

 

26,661

 

 

13,124

 

 

 

4,341

 

 

 

261,366

 

Compensation and benefits

 

 

213,425

 

 

 

17,583

 

 

187,273

 

 

795

 

 

14,285

 

 

 

20,571

 

 

 

453,932

 

Depreciation and amortization

 

 

6,171

 

 

 

1,939

 

 

8,594

 

 

8,927

 

 

10,354

 

 

 

—

 

 

 

35,985

 

Total Operating Expenses

 

 

633,879

 

 

 

63,555

 

 

250,802

 

 

124,310

 

 

45,951

 

 

 

55,607

 

 

 

1,174,104

 

Realized and unrealized gains (losses), net

 

 

—

 

 

 

6,829

 

 

3,565

 

 

40,464

 

 

18

 

 

 

—

 

 

 

50,876

 

Other income (loss), net

 

 

527

 

 

 

158

 

 

9,777

 

 

28,860

 

 

(520

)

 

 

2

 

 

 

38,804

 

Total Other Income (Loss)

 

 

527

 

 

 

6,987

 

 

13,342

 

 

69,324

 

 

(502

)

 

 

2

 

 

 

89,680

 

Income (Loss) before Income Taxes

 

$

32,557

 

 

$

25,507

 

$

138,239

 

$

81,389

 

$

(18,923

)

 

$

(52,444

)

 

$

206,325

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets

 

$

27,459,943

 

 

$

4,057,146

 

$

4,514,978

 

$

10,687,181

 

$

5,885,235

 

 

$

458,643

 

 

$

53,063,126

 

Stockholders' Equity in Rithm Capital Corp.

 

$

5,566,600

 

 

$

881,484

 

$

1,365,165

 

$

1,664,739

 

$

1,068,309

 

 

$

(2,115,810

)

 

$

8,430,487

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain information in this press release constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts. They represent management’s current expectations regarding future events and are subject to a number of trends and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those described in the forward-looking statements. Accordingly, you should not place undue reliance on any forward-looking statements contained herein. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Cautionary Statement Regarding Forward Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s most recent annual and quarterly reports and other filings filed with the U.S. Securities and Exchange Commission, which are available on the Company’s website (www.rithmcap.com). New risks and uncertainties emerge from time to time, and it is not possible for Rithm Capital to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Forward-looking statements contained herein speak only as of the date of this press release, and Rithm Capital expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Rithm Capital's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

ABOUT RITHM CAPITAL

Rithm Capital Corp. is a global alternative asset manager with significant experience managing credit and real estate assets. Rithm’s integrated platform spans asset-based finance, residential and commercial real estate lending, mortgage servicing rights, and structured credit. Through platforms including Elecor Properties, Newrez, Genesis Capital, Sculptor Capital Management, and Crestline Management, Rithm employs a unique owner-operator model to drive value for shareholders and investors. For more information, visit www.rithmcap.com.

Investor Relations
212-850-7770
ir@rithmcap.com

Source: Rithm Capital Corp.