Rithm Capital (NYSE:RITM) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$767.7m (down 18% from 2Q 2023).

• Net income: US$213.2m (down 40% from 2Q 2023).

• Profit margin: 28% (down from 38% in 2Q 2023). The decrease in margin was driven by lower revenue.

• EPS: US$0.44 (down from US$0.74 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Rithm Capital Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 9.3%. Earnings per share (EPS) also surpassed analyst estimates by 14%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 43% growth forecast for the Mortgage REITs industry in the US.

Performance of the American Mortgage REITs industry.

The company's shares are up 2.1% from a week ago.

Risk Analysis

You should learn about the 2 warning signs we've spotted with Rithm Capital (including 1 which is a bit unpleasant).

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