Press Release: Rithm Capital Corp. Announces First Quarter 2026 Results

Dow Jones04-28 18:30
NEW YORK--(BUSINESS WIRE)--April 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,     December 31, 
                                             2026            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,    December 31, 
                                                  2026          2025 
                                              ------------  ------------ 
   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) 
 
                            Origination     Residential                              Commercial 
First Quarter Ended March       and        Transitional       Asset     Investment      Real       Corporate 
31, 2026                      Servicing       Lending       Management   Portfolio     Estate       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 
--------------------------   ----------       ----------    ---------    ---------    ---------    ----------    ---------- 
 
 
                            Origination    Residential                            Commercial 
Fourth Quarter Ended            and       Transitional     Asset     Investment      Real       Corporate 
December 31, 2025             Servicing      Lending     Management   Portfolio     Estate       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 
 $Rithm Capital Corp(RITM-E)$.        $ 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

$Rithm Capital Corp(RITM-F)$. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260428165155/en/

 
    CONTACT:    Investor Relations 

212-850-7770

ir@rithmcap.com

 
 

(END) Dow Jones Newswires

April 28, 2026 06:30 ET (10:30 GMT)

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