RITM Rithm Capital Corp.

NYSE
$10.36

Rithm Capital Corp. Announces Second Quarter 2026 Results

Tuesday, July 28, 2026 · 6:45 AM ET Business Wire

NEW YORK--(BUSINESS WIRE)--Rithm Capital Corp. (NYSE: RITM; “Rithm Capital,” “Rithm” or the “Company”) today reported the following information for the second quarter ended June 30, 2026.

“Rithm’s strong second quarter performance reflects the significant momentum of our owner-operator platform, which continues to prove its depth and durability,” said Michael Nierenberg, CEO of Rithm Capital. “Despite an uncertain macro environment, our asset management business reached $61 billion in AUM on $1.9 billion of gross inflows, while Genesis delivered its strongest origination quarter ever and Newrez posted a 22% annualized operating return on equity(3). With Elecor building strong leasing momentum, every pillar of our platform is performing. As our clients deepen their engagement with Rithm, we are confident in our positioning and the compelling opportunities ahead to deliver for our clients and shareholders.”

Financial Highlights:

  • GAAP net income of $20.2 million, or $0.04 per diluted common share(1)
  • Earnings available for distribution of $338.9 million, or $0.60 per diluted common share(1)(2)
  • Common dividend of $139.6 million, or $0.25 per common share
  • Book value per common share of $12.33(1)

 

Q2 2026

 

Q1 2026

Summary Operating Results:

 

 

 

GAAP Net Income per Diluted Common Share(1)

$

0.04

 

$

0.12

GAAP Net Income (in millions)

$

20.2

 

$

67.8

 

 

 

 

Non-GAAP Results:

 

 

 

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

$

0.60

 

$

0.51

Earnings Available for Distribution(2) (in millions)

$

338.9

 

$

289.6

 

 

 

 

Common Dividend:

 

 

 

Common Dividend per Share

$

0.25

 

$

0.25

Common Dividend (in millions)

$

139.6

 

$

139.6

Business Highlights:

  • Asset Management:
    • Rithm Asset Management, Rithm Capital’s alternative asset management platform, which includes Sculptor Capital Management, Inc. (“Sculptor Capital”) and Crestline Management, L.P. (“Crestline”), had approximately $61 billion of assets under management (“AUM”)(4) as of June 30, 2026, up from $59 billion at quarter end Q1’26, driven by $1.9 billion of gross inflows and new fund commitments in Q2’26.
    • AUM has nearly doubled since Rithm accelerated the growth of its asset management business in 2023.
    • Rithm Asset Management posted asset management revenue of $141 million in Q2’26, up from approximately $105 million in Q1’26, or a 34% QoQ increase, driven by higher incentive fee income.
  • Commercial Real Estate:
    • Elecor, Rithm Capital’s owner and operator of Class A office properties in New York City and San Francisco, increased year-to-date leasing activity to 681 thousand square feet, achieving rents 32% higher in New York City and 1% higher in San Francisco compared to FY 2025.
    • Closed on the previously announced $283 million refinancing of 1325 Avenue of the Americas through a broadly syndicated single-asset single borrower commercial mortgage-backed securities financing.
  • Investment Portfolio:
    • Rithm Capital sponsored and completed three non-qualified mortgage securitizations in Q2’26 totaling $1.4 billion in UPB.
    • Acquired $303 million in home improvement loans in Q2’26 under the existing forward flow agreement with Upgrade, Inc. (“Upgrade”), bringing the total purchased through quarter-end to $970 million.
    • Completed an inaugural $316 million securitization of home improvement loans.
  • Origination & Servicing:
    • Newrez LLC (“Newrez”), Rithm Capital’s mortgage origination and servicing platform, posted pre-tax operating income of $307.6 million in Q2’26, excluding mortgage servicing rights (“MSRs”) mark-to-market (“MTM”) loss, net of hedges, and other non-operating items of $(194.5) million, up from $273.7 million in Q1’26, excluding MSRs MTM loss, net of hedges, and other non-operating items of $(23.1) million.
    • Newrez generated a 22% annualized operating return on equity (“ROE”)(3) in Q2’26 on $5.7 billion of average ending segment equity.
    • Total servicing unpaid principal balance (“UPB”) reached $865.2 billion at the end of Q2’26, which includes $268.4 billion UPB of third-party servicing.
    • Origination funded production volume was $15.9 billion in Q2’26, an increase of 3% quarter over quarter (“QoQ”) and a decrease of 2% year over year (“YoY”).
  • Residential Transitional Lending:
    • Rithm Capital’s residential transitional lending platform, Genesis Capital LLC (“Genesis Capital”), recorded Q2’26 origination volume of $1.9 billion, a YoY increase of 52%, continuing a series of record volume quarters.
    • Genesis Capital continued to expand its sponsor base, growing new sponsors funded by 125 in Q2’26, a 46% increase YoY.

(1)

Per diluted common share calculations for both GAAP Net Income and Earnings Available for Distribution are based on 568,262,330 and 565,927,074 weighted average diluted shares for the quarters ended June 30, 2026 and March 31, 2026, respectively. The per share calculation of Book Value is based on 558,407,031 common shares outstanding as of June 30, 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)

Q2’26 annualized operating ROE is a non-GAAP measure. Q2’26 annualized operating ROE is calculated based on annualized pre-tax operating income of $307.6 million, excluding MSRs MTM loss, net of hedges, and other non-operating items of $(194.5) 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 direct lending, 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 - Events & Presentations 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, July 28, 2026 at 8:00 A.M. Eastern Time.

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 Second Quarter 2026 Earnings Call.” In addition, participants are encouraged to pre-register for the conference call at https://dpregister.com/sreg/10210777/10484ac0dde.

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, August 4, 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 “6182214”.

Rithm Capital Corp. and Subsidiaries

Consolidated Statements of Operations (Unaudited)

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

 

 

Three Months Ended

 

June 30,

2026

 

March 31,

2026

Revenues

 

 

 

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

$

614,637

 

 

$

579,288

 

Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(213,874) and $(211,456), respectively)

 

(392,875

)

 

 

(204,229

)

Servicing revenue, net

 

221,762

 

 

 

375,059

 

Interest income

 

474,595

 

 

 

461,877

 

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

 

207,006

 

 

 

208,250

 

Asset management revenue

 

142,228

 

 

 

106,587

 

Commercial real estate revenue

 

182,130

 

 

 

178,257

 

Other residential-related revenue

 

54,560

 

 

 

54,680

 

 

 

1,282,281

 

 

 

1,384,710

 

Expenses

 

 

 

Interest expense and warehouse line fees

 

464,114

 

 

 

450,063

 

General, administrative and operating

 

307,349

 

 

 

316,601

 

Compensation and benefits

 

410,477

 

 

 

378,410

 

Depreciation and amortization

 

93,547

 

 

 

92,644

 

 

 

1,275,487

 

 

 

1,237,718

 

Other Income (Loss)

 

 

 

Realized and unrealized gains (losses), net

 

56,305

 

 

 

(15,154

)

Other income, net

 

23,787

 

 

 

22,402

 

 

 

80,092

 

 

 

7,248

 

Income before Income Taxes

 

86,886

 

 

 

154,240

 

Income tax expense

 

18,973

 

 

 

44,762

 

Net Income

 

67,913

 

 

 

109,478

 

Non-controlling interests in income (loss) of consolidated subsidiaries

 

8,032

 

 

 

(146

)

Redeemable non-controlling interests in income of consolidated subsidiaries

 

3,590

 

 

 

6,946

 

Net Income Attributable to Rithm Capital Corp.

 

56,291

 

 

 

102,678

 

Dividends on preferred stock

 

36,098

 

 

 

34,847

 

Net Income Attributable to Common Stockholders

$

20,193

 

 

$

67,831

 

 

 

 

 

Net Income per Share of Common Stock

 

 

 

Basic

$

0.04

 

 

$

0.12

 

Diluted

$

0.04

 

 

$

0.12

 

Weighted Average Number of Shares of Common Stock Outstanding

 

 

 

Basic

 

558,346,329

 

 

 

556,720,287

 

Diluted

 

568,262,330

 

 

 

565,927,074

 

 

 

 

 

Dividends Declared per Share of Common Stock

$

0.25

 

 

$

0.25

 

Rithm Capital Corp. and Subsidiaries

Consolidated Balance Sheets (Unaudited)

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

 

 

June 30, 2026

 

March 31, 2026

Assets

 

 

 

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

$

11,091,483

 

 

$

10,859,933

 

Government and government-backed securities ($4,887,937 and $5,041,769 at fair value, respectively)

 

4,912,869

 

 

 

5,066,754

 

Residential mortgage loans ($4,241,244 and $5,083,003 at fair value, respectively)(A)

 

4,293,492

 

 

 

5,137,741

 

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

 

707,111

 

 

 

805,294

 

Residential transition loans, at fair value

 

3,832,312

 

 

 

3,197,813

 

Residential mortgage loans subject to repurchase

 

4,308,886

 

 

 

4,427,618

 

Real estate, net(A)

 

6,139,789

 

 

 

6,174,559

 

Insurance company investments, at fair value

 

1,119,524

 

 

 

1,021,920

 

Cash, cash equivalents and restricted cash(A)

 

2,454,708

 

 

 

2,368,374

 

Servicer advances receivable

 

2,751,593

 

 

 

2,865,556

 

Other assets ($3,037,780 and $3,018,569 at fair value, respectively)(A)

 

5,584,432

 

 

 

5,714,249

 

Assets of Consolidated Entities(A):

 

 

 

Investments, at fair value and other assets

 

6,912,669

 

 

 

5,734,733

 

Total Assets

$

54,108,868

 

 

$

53,374,544

 

Liabilities and Equity

 

 

 

Liabilities

 

 

 

Secured financing agreements(A)

$

13,677,512

 

 

$

13,923,496

 

Secured notes and bonds payable ($126,140 and $134,319 at fair value, respectively)(A)

 

14,363,446

 

 

 

14,827,171

 

Residential mortgage loan repurchase liability

 

4,308,886

 

 

 

4,427,618

 

Unsecured notes, net of issuance costs

 

1,902,627

 

 

 

1,424,635

 

Interest sensitive insurance contract liabilities

 

1,143,797

 

 

 

1,069,355

 

Dividends payable

 

185,032

 

 

 

179,104

 

Accrued expenses and other liabilities ($631,854 and $610,185 at fair value, respectively)(A)

 

3,104,711

 

 

 

3,085,378

 

Liabilities of Consolidated Entities(A):

 

 

 

Notes payable, at fair value and other liabilities

 

5,974,137

 

 

 

4,932,492

 

Total Liabilities

 

44,660,148

 

 

 

43,869,249

 

Commitments and Contingencies

 

 

 

Redeemable Non-controlling Interests of Consolidated Subsidiaries

 

397,306

 

 

 

361,138

 

Stockholders’ Equity

 

 

 

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

 

1,632,915

 

 

 

1,632,915

 

Common stock, $0.01 par value, 2,000,000,000 shares authorized, 558,407,031 and 557,902,002 issued and outstanding, respectively

 

5,584

 

 

 

5,579

 

Additional paid-in capital

 

7,033,296

 

 

 

6,998,267

 

Accumulated deficit

 

(226,449

)

 

 

(99,976

)

Accumulated other comprehensive income

 

71,516

 

 

 

73,292

 

Stockholders’ Equity in Rithm Capital Corp.

 

8,516,862

 

 

 

8,610,077

 

Non-controlling interests in equity of consolidated subsidiaries

 

534,552

 

 

 

534,080

 

Total Stockholders’ Equity

 

9,051,414

 

 

 

9,144,157

 

Total Liabilities and Equity

$

54,108,868

 

 

$

53,374,544

 

(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:

  • Certain realized and unrealized gains and losses on (i) investments other than those that are acquired with the intent to sell or loans that are originated or acquired with the intent to sell, (ii) changes in valuation inputs and assumptions of MSRs, (iii) MSR economic hedges, other than any interest income associated with such instruments and (iv) extinguishment of debt;
  • Certain other income and losses, primarily consisting of equity-based or non-recurring compensation expense, straight-line rental revenue, amortization of debt acquired below or above market prices, and certain net income or losses attributable to non-controlling and redeemable non-controlling interests;
  • Depreciation and amortization on real estate investment properties and intangible assets;
  • Non-capitalized transaction-related expenses, primarily consisting of legal, valuation and other professional service fees incurred in connection with certain investment acquisitions, as well as costs associated with the acquisition and integration of acquired businesses; and
  • Deferred taxes.

In computing earnings available for distribution, the Company excludes the items listed above because management does not consider them representative of the Company's core operating performance or of cash available for distribution to stockholders. These adjustments generally fall into three categories: items that are non-cash in nature; items that, while a part of the Company's recurring operations, are subject to significant variability and are therefore generally limited to a potential indicator of future economic performance; and items that relate to the acquisition or integration of investments and businesses rather than to ongoing 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. 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

 

June 30,

2026

 

March 31,

2026

Net income attributable to common stockholders - GAAP

$

20,193

 

$

67,831

Adjustments:

 

 

 

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

 

181,110

 

 

71,844

Other loss, net

 

14,206

 

 

15,633

Depreciation and amortization

 

87,913

 

 

87,280

Non-capitalized transaction-related expenses

 

21,870

 

 

8,330

Deferred taxes

 

13,636

 

 

38,718

Earnings available for distribution - Non-GAAP

$

338,928

 

$

289,636

 

 

 

 

Net income per diluted share

$

0.04

 

$

0.12

Earnings available for distribution per diluted share

$

0.60

 

$

0.51

 

 

 

 

Weighted average number of shares of common stock outstanding, diluted

 

568,262,330

 

 

565,927,074

SEGMENT INFORMATION

($ in thousands)

 

Second Quarter Ended June 30, 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

 

$

614,637

 

 

$

—

 

$

—

 

$

—

 

$

—

 

 

$

—

 

 

$

614,637

 

Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(213,874))

 

 

(392,875

)

 

 

—

 

 

—

 

 

—

 

 

—

 

 

 

—

 

 

 

(392,875

)

Servicing revenue, net

 

 

221,762

 

 

 

—

 

 

—

 

 

—

 

 

—

 

 

 

—

 

 

 

221,762

 

Interest income

 

 

252,496

 

 

 

103,587

 

 

28,208

 

 

85,428

 

 

2,185

 

 

 

2,691

 

 

 

474,595

 

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

 

 

204,731

 

 

 

—

 

 

—

 

 

2,275

 

 

—

 

 

 

—

 

 

 

207,006

 

Management fees

 

 

—

 

 

 

—

 

 

88,789

 

 

—

 

 

1,696

 

 

 

—

 

 

 

90,485

 

Incentive fees

 

 

—

 

 

 

—

 

 

51,743

 

 

—

 

 

—

 

 

 

—

 

 

 

51,743

 

Asset management revenue

 

 

—

 

 

 

—

 

 

140,532

 

 

—

 

 

1,696

 

 

 

—

 

 

 

142,228

 

Commercial real estate revenue

 

 

—

 

 

 

—

 

 

—

 

 

—

 

 

182,130

 

 

 

—

 

 

 

182,130

 

Other residential-related revenue

 

 

25,222

 

 

 

—

 

 

—

 

 

29,338

 

 

—

 

 

 

—

 

 

 

54,560

 

Total Revenue

 

 

704,211

 

 

 

103,587

 

 

168,740

 

 

117,041

 

 

186,011

 

 

 

2,691

 

 

 

1,282,281

 

Interest expense and warehouse line fees

 

 

225,634

 

 

 

43,742

 

 

23,231

 

 

70,007

 

 

61,836

 

 

 

39,664

 

 

 

464,114

 

Other segment expenses

 

 

146,211

 

 

 

5,469

 

 

33,082

 

 

31,711

 

 

78,640

 

 

 

12,236

 

 

 

307,349

 

Compensation and benefits

 

 

214,708

 

 

 

22,740

 

 

130,211

 

 

6,688

 

 

11,474

 

 

 

24,656

 

 

 

410,477

 

Depreciation and amortization

 

 

5,474

 

 

 

1,966

 

 

12,040

 

 

7,184

 

 

66,803

 

 

 

80

 

 

 

93,547

 

Total Operating Expenses

 

 

592,027

 

 

 

73,917

 

 

198,564

 

 

115,590

 

 

218,753

 

 

 

76,636

 

 

 

1,275,487

 

Realized and unrealized gains, net

 

 

57

 

 

 

7,031

 

 

26,448

 

 

22,751

 

 

18

 

 

 

—

 

 

 

56,305

 

Other income (loss), net

 

 

879

 

 

 

314

 

 

17,404

 

 

7,295

 

 

(2,114

)

 

 

9

 

 

 

23,787

 

Total Other Income (Loss)

 

 

936

 

 

 

7,345

 

 

43,852

 

 

30,046

 

 

(2,096

)

 

 

9

 

 

 

80,092

 

Income (Loss) before Income Taxes

 

$

113,120

 

 

$

37,015

 

$

14,028

 

$

31,497

 

$

(34,838

)

 

$

(73,936

)

 

$

86,886

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets

 

$

26,890,344

 

 

$

5,060,530

 

$

4,371,258

 

$

11,531,136

 

$

5,883,187

 

 

$

372,413

 

 

$

54,108,868

 

Stockholders' Equity in Rithm Capital Corp.

 

$

5,492,541

 

 

$

1,017,409

 

$

1,319,373

 

$

1,582,256

 

$

1,218,777

 

 

$

(2,113,494

)

 

$

8,516,862

 

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

 

Management fees

 

 

—

 

 

 

—

 

 

 

89,160

 

 

 

—

 

 

 

1,769

 

 

 

—

 

 

 

90,929

 

Incentive fees

 

 

—

 

 

 

—

 

 

 

15,658

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

15,658

 

Asset management revenue

 

 

—

 

 

 

—

 

 

 

104,818

 

 

 

—

 

 

 

1,769

 

 

 

—

 

 

 

106,587

 

Commercial real estate revenue

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

178,257

 

 

 

—

 

 

 

178,257

 

Other residential-related revenue

 

 

23,333

 

 

 

—

 

 

 

—

 

 

 

31,347

 

 

 

—

 

 

 

—

 

 

 

54,680

 

Total Revenue

 

 

828,241

 

 

 

87,659

 

 

 

143,715

 

 

 

140,592

 

 

 

181,858

 

 

 

2,645

 

 

 

1,384,710

 

Interest expense and warehouse line fees

 

 

215,797

 

 

 

35,659

 

 

 

25,574

 

 

 

76,555

 

 

 

58,462

 

 

 

38,016

 

 

 

450,063

 

Other segment expenses

 

 

151,269

 

 

 

6,537

 

 

 

30,410

 

 

 

25,109

 

 

 

84,000

 

 

 

19,276

 

 

 

316,601

 

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 losses, net

 

 

—

 

 

 

(606

)

 

 

(1,394

)

 

 

(13,034

)

 

 

(120

)

 

 

—

 

 

 

(15,154

)

Other income, net

 

 

2,614

 

 

 

1,055

 

 

 

9,476

 

 

 

7,219

 

 

 

2,036

 

 

 

2

 

 

 

22,402

 

Total Other Income (Loss)

 

 

2,614

 

 

 

449

 

 

 

8,082

 

 

 

(5,815

)

 

 

1,916

 

 

 

2

 

 

 

7,248

 

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

 

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.

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